Mondelēz International spoken the launch of CoLab, its global start-up smatter program in India. India is the first Mondelēz market outside of US to pilot the CoLab Smatter program. CoLab aims at nurturing the growing entrepreneurial pool in the country and momentum growth, and innovation and lead the snacking industry.
CoLab, in partnership with Huddle, will create a platform to vamp relevant snacking start-ups and create engagement with the start-up ecosystem, including its leaders, founders, and other key stakeholders. This will moreover enable Mondelez India to identify high-growth snacking trends while towers category and consumer learnings. Mondelez India and Huddle will provide mentorship to participants and a grant for early-stage growth.
Commenting on the launch, Deepak Iyer, President – India, Mondelēz International, said, “As the visitor marks 75 years in India, the launch of CoLab reinforces our transferral to stuff a consumer-centric trademark in India. This gives us the perfect opportunity to nurture the growing entrepreneurial talent in the country while unlocking new ideas that momentum innovation and scalability in the Snacking space. We are in a position to provide our expertise and wits for start-ups, help capitalize on new trends, mobilize talent and technologies to build emerging and resurgent snacks, to positively grow the snacking industry in the country.”
The program will be executed in partnership with Huddle – an experienced Smatter & Fund for early-stage ventures, that is rightly positioned to co-anchor the CoLab program in India. Huddle shall offer participants tools, technologies, wangle to networks and industry expertise and the opportunity to raise early-stage probity wanted from Huddle and other potential ventures.
Sanil Sachar, Founding Partner, Huddle, commented on CoLab launch, “At Huddle, our aim has constantly been to interreact with leaders in our focused sub-sectors. Mondelēz stuff a key global snacking leader, with many loved and trusted brands in India, we couldn’t have asked for a largest collaborator to partner with.”
Following the undeniability for entries whence today, the program will shortlist up to 7 startups, who will be chosen by a team of internal and external experts and will receive a $20,000 grant. The startups will partake in a 12-week program wideness virtual sessions and in-person interactions that will provide expert mentoring, workshops, wangle to Mondelez India’s leadership and their networks as well as connections with Industry experts. Post the program, at the final showcase event, selected Startups will get a endangerment to pitch and raise wanted from Huddle and other potential funds.
Mondelez India has specified key criteria for the selection of startups. The lookout is for startups that are disruptive in the snacking category by stuff purposefully innovative in supplies production and packaging, challenging marketing and branding norms, running a differentiated business, driving growth through new avenues, etc. The disruptions should be workable to chocolates, cookies, crackers, in-store bakeries, or bars.
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