The food industry is evolving, and artificial intelligence is leading the charge. To understand how AI impacts our food system, we spoke to expert Thomas Hayes. Read our interview to learn how AI is already addressing inefficiencies in our food system, helping us build more resilient companies, and catalyzing a more sustainable future for us all.
Read MoreIn this two-part series, we took a deep dive into the world of sustainable packaging innovation with the expert guidance of Tom Fitzgerald. In the second installment of this two-part series, we asked pressing questions on materials that balance carbon footprint with plastic pollution, how consumer behavior intersects with food waste, the first steps to finding the right packaging solution for your company, and much more.
Read MoreIn this two-part series, we took a deep dive into the world of sustainable packaging innovation with the expert guidance of Tom Fitzgerald. This first installment addresses key questions companies might ask when considering a shift to sustainable packaging, clarifies common terms, and explains steps that food companies can take to move their sustainability efforts forward.
Read MoreWhat revenue milestones do I need to meet to unlock new sources of funding?
What type of financing fits my company's current stage and needs?
How do I leverage value from existing assets like my inventory to invest in my company?
After almost a decade of supporting food-related businesses, especially those that are scaling up from a small venture, Branchfood hears questions like this often. We know that having enough capital to invest in company growth is critical to scaling a successful business.
To answer these and similar questions, we invited five speakers from across the business financing ecosystem to share their insights. The panel represented diverse and unique models, ranging from crowdfunding, to credit cards with favorable terms, to loans repaid with future revenue. Each speaker shared details about their program requirements and terms, food business insights, and tips for diving into a new financing relationship. We also heard a short presentation on how best to match funding options with each stage of food business growth, from Branch Venture Group’s partner Marcia Hooper.
Jay is the Head of Sales at Flex, a Fintech company offering an all-in-one platform solution for businesses across various industries. Flex's mission is to empower CEOs and CFOs to run the finance operations of their business on one platform, saving operators countless hours every single month. Additionally, Flex offers a credit card with long-term payback options for growing businesses.
Jacqueline Halber is the Philadelphia Manager at Honeycomb Credit, a community investment platform that empowers small businesses to grow by offering accessible and community-driven financing options. They have helped numerous food businesses scale through innovative funding that connects small businesses with local investors.
Susan Murray is the Executive Director of South Eastern Economic Development (SEED) Corporation, a mission-driven economic development organization serving Rhode Island and Southeastern Massachusetts. SEED’s mission is to promote economic growth and provide training, education, and equitable access to affordble capital to entrepreneurs seeking to start or grow a small business. SEED works independently or in conjunction with local financial institutions to provide below-market term loans and focuses on underserved individuals and markets.
Marcia Hooper currently serves as a Partner of Branch Venture Group, an angel investing network focused on food startups, food technology, business services for food-related companies, ag-tech, and sustainability. BVG’s multitude of portfolio companies is driving progress across the entire food system through strategic investments.
Tor Trivers, CIO and Co-Founder of Pershing Ventures, focuses on providing flexible financing to underserved, private companies, making his expertise in private debt a key part of the customer's success story. Pershing Ventures offers non-dilutive growth capital which is based on revenue history and forecasted revenue growth and is repaid over time based on the amount of revenue generated in each period.
If you are interested in learning more about any of these options for your business, don’t hesitate to reach out to us. We have a decade of experience helping entrepreneurs like you build their businesses. Get in touch with us at info@branchfood.com for more information.
Through the collaboration and support from Rhode Island Commerce Corporation, Branchfood has developed key resources for women and minority-founded food businesses scaling in Rhode Island including:
Spanish translation of the Finance Webinar presentation deck
Connections for Growth is our program to match entrepreneurs with trusted industry experts who can advise on their most pressing business needs and facilitate key partnerships to accelerate growth. Simply fill out the brief survey and we will connect you with the resources your business needs.
Get Ready to Grow, our food business growth toolkit has resources on expanding distribution, raising capital, and increasing production.
Assistance with the application to the Rhode Island DEDI certification program for women and minority-owned enterprises. Certified entities gain important visibility among national retailers and corporations seeking to meet their diversity procurement goals.
The new capital access grant program from Rhode Island Commerce Corporation, with grants up to $20,000 available to invest in growth for qualifying Rhode Island-based businesses. Reach out to karen@branchfood.com for more information.
One criterion for applying is completing 15 hours of technical assistance support from intermediary organizations such as Branchfood. This webinar and all technical assistance we provide will count towards those hours.
Keep up to date with Branchfood’s work and events by signing up for our newsletter, following us on LinkedIn, and attending our monthly Community Table. See more resources for Rhode Island entrepreneurs.
“I am 100% confident that consumers will be eating, and enjoying, cultivated meat, and other cultivated foods, in the future.”
Push and pull forces are undeniable in the cultivated meat space and are necissitating change in how protein is manufactured. Though recent challenges in funding cultivated meat advancements are very real for pioneering companies, it doesn’t mean this method of protein production isn’t viable, scalable, or better, for a whole host of reasons.
The growing appetite for food that ensures environmental sustainability and agricultural land conversion, supports animal welfare, and reduces antibiotic use, are key priorities for governments, industry titans, and consumers alike. Food, agriculture, and climate change are inextricably linked, and not only is the sector one of the largest contributors to greenhouse gas emissions, but conversely, climate change will have a detrimental impact on food production in many regions of the world. Today, we have the technology and tools to produce food differently, more sustainably, more efficiently, and in ways that consumers are open to. Research has shown that consumers are willing to try novel proteins, and decades of behavioral science show that there is promising potential if the introduction of such proteins is done with care and consideration.
I am 100% confident that consumers will be eating, and enjoying, cultivated meat, and other cultivated foods, in the future. It is going to take time though, and perhaps longer than environmentalists or investors would like, for this new industry to reach a meaningful scale, but how exciting is it to watch a whole new sector in the food industry develop in our lifetime?
The Branchfood community can use code BRFICMS10 for 10% off ticket prices.
The global food industry is complex. There are aspects of it that are outdated and others that are incredibly efficient. Some processes make sense, while others are ripe for disruption. The whole system is intricately connected to ensure that food grown around the world makes it to consumers, who in many cases, live thousands of miles away from where that food was harvested or produced. Changing any one part of a $10 trillion industry built to serve the 8.1 billion people living on our planet today takes more than an idea and a minimum viable product. This complexity, scale, lack of certainty, special interests, and the pressure of time have resulted in a more complex path to success than the traditional venture capital investment community is used to, or comfortable with. We’ve found that developing a strong conviction in making an investment in foodtech requires as much knowledge of industry trends, technical advancements, and consumer psychology, as it does confidence in the capabilities of the founding team. Successful companies don’t just happen, they are built, and we’ve found that to ensure meaningful progress on the path to success for entrepreneurs and investors alike, both must be laser-focused on developing a strong value proposition, maintaining consistent communication, and being forthcoming with expectations.
Longstanding behavioral science shows that people are skeptical, and even fearful, of new foods. Approaching the introduction of cultivated meat to the masses will take a multi-pronged strategy to ensure all stakeholders in the food supply chain are on board. From leveraging science and technology to ensure taste, texture, and mouthfeel are at parity with consumer expectations, to commuting the benefits of this method of protein production, and working with skilled marketers to address any consumer concerns will all be necessary.
A phased approach targeting high-end restaurants and specialty food markets initially can create a premium brand image and generate buzz. As production scales and costs decrease, brands might expand into retail and broader foodservice channels and partner with established food brands. The more companies that achieve market penetration, the greater the groundswell effect will be for the entire industry. At the end of the day, people need to just try it! Finding ways consumers can try it, even for free, will be critical to overcoming the barrier of purchasing for fear they won’t like it and their money will be wasted.
“Success of the cultivated meat and seafood industries will take a community, and I’m looking forward to meeting and collaborating with that community at the Summit.”
Investing in disruptive products, technologies, and services poised to transform the global food industry offers the potential for impact and significant returns to investors, particularly ones that invest at the company’s earliest phases of development. Early-stage startups often have the potential for rapid growth. If the company succeeds, early investors can see substantial returns on their investment, often much higher than more established companies. Investing in early-stage startups can also be a way to support innovation and new ideas.
This can be personally rewarding and align with the investor’s values or interests and we often see this among investors in our community. Despite the benefits, it's important to note the risks involved. Startups have a high failure rate, and it's possible to lose the entire investment. Therefore, it's crucial to conduct thorough due diligence and consider these investments as part of a diversified portfolio to ensure impact and a strong return on investment is reached.
Success of the cultivated meat and seafood industries will take a community, and I’m looking forward to meeting and collaborating with that community at the Summit. This sector is evolving quickly and the event offers a great opportunity to hear about the latest technological developments, regulatory updates, and commercialization strategies companies are thinking about for the future. Also, as a Boston-industry enthusiast, I’m looking forward to speaking about, and hearing from, my local collaborators on their great work leading the future of cultivated protein.
The eagerness to engage was palpable at the Sam Adams Downtown Boston Taproom where over 130 local and regional attendees from leading industry businesses attended our Spring Meet and Mingle. Supporting the advancement of businesses’ development goals through relationship building is at the core of our events.
Read MoreWith the globally recognized Future Food-Tech conference as our backdrop, Branchfood and Bay State Milling hosted food industry executives for an intimate gathering in San Francisco. The evening’s purpose was to discuss the importance of developing more nutritious food for people and our planet. Industry attendees from leading companies defining the future of food dined on a multi-course meal that featured Bay State Milling’s game changing ingredient, HealthSense®. This revolutionary baking flour improves public health by naturally increasing the nutrient density of consumers’ favorite foods.
Read MoreWho is successfully implementing sustainable practices in food? Challenges are inevitable, but how are companies overcoming them? These questions, and more, were answered in our recent webinar, Sustainably Nourishing Tomorrow: A Collaborative Approach for Global Impact. In collaboration with Greater Zurich Area, the Swiss business concierge for companies looking to grow internationally in the Greater Zurich region, Branchfood brought together industry experts for conversations about the future of packaging, sustainability metrics, and creating sustainable consumer products. Annette Herz, strategic advisor at Branchfood and moderator for the webinar, spoke with Stefanie Guyer about why Greater Zurich offers an ideal environment for innovation-focused companies that prioritize collaboration between research institutions and the private sector.
Syntegon’s paper-based barrier packaging and SIG’s carton bottle
Gavin Steiner, Chief Technology Officer at SIG Group, a leading packaging solutions provider, and Stephan Schuele, Head of Product Management at Syntegon, a pioneering processing and packaging technology company, discussed how using monomaterials, meaning only one type of material in packaging, can enhance sustainability. During disposal, packages made of a single material are much more likely to get recycled because of their higher value to recyclers. Consider the aluminum foil you probably have in your kitchen at home; it’s an important tool that can act as a barrier to light, oxygen and moisture. Fifteen years ago, most beverage cartons used aluminum foil as a lining. Though the amount of aluminum was small, in fact, the lining was 7x thinner than a piece of hair, says Gavin. SIG Group pioneered its removal to reduce cartons’ carbon footprints by 23%+. That’s not even accounting for the increased recycling rate of the cartons.
Yamo’s cartons and pouches
Gavin and Stephan also discussed the future of the packaging industry agreeing that there’s no silver bullet, and that change will take time. Stephan discussed the current trend of “paperizing” all packaging. In his experience, paper packaging wrinkles easily, disrupting the product seal and can compromise the safety of the contents. Gavin was quick to agree that while consumers focus on the end of life of packaging, companies think more about maintaining the resiliency of the product in the food supply chain. Reducing food waste is the biggest benefit that sustainable packaging can offer, and one that can reduce carbon footprints.
Two of Planted’s planted.chicken flavors
Tobias Gunzenhauser, founder and CEO of yamo noted that monomaterials were also used in their packaging. The company produces shelf stable baby food using high pressure pasteurization, so they needed a material that wasn’t breakable. Yamo uses monomaterial plastic, and though the higher recyclability rate is an advantage, a lighter product offers a reduced carbon footprint which is 70% lower than their competitors using glass jars. Planted, which makes plant-based meat from natural ingredients like soy protein, and bean and rice flour, sees sustainability as core to their product and brand. Planted Co-founder, Pascal Bieri, said that the best thing they can do is help flexitarians consume more plants.
Planted, like yamo and SIG Group, are headquartered in Switzerland, a country well known for its environmental leadership and natural resource conservation. In 2023, the country voted to become carbon neutral by 2050 and the largest city, Zurich, ranks #8 in the Global Destination Sustainability Movement Index. The Swiss business ecosystem offers a resource-rich environment for sustainability-oriented companies to put down roots and boasts the most sustainable startups per capita of any country in the world. Further, the region is home to global leaders in the food industry and leads as a global talent hub.
Interested in learning more about the region’s network of innovators and how to join the ecosystem yourself? Reach out to Greater Zurich Area. They offer free consultation and support for companies interested in expansion.
If you, or your company, are seeking deeper involvement in the dynamic and global Branchfood community, get involved! Signup for our newsletter, follow us on LinkedIn, and attend our monthly Community Table. For more information on our bespoke advisory services, or to speak directly with a member of our team, please reach out to info@branchfood.com.
With strong fundamentals and a forecasted fall in interest rates, fundraising in the food & beverage industry should improve in 2024 and accelerate into 2025. Independent brands continue to drive growth over large consumer brands in both natural and overall food product categories. Grocery sales have stabilized back to pre-pandemic levels, where natural products remain a promising growth area regardless of economic conditions. Consumers are embracing a more holistic view of wellness, as well as factoring in planetary health, sustainability and socially conscious values in the brands they choose.
Read MoreInnovation and quality are the cornerstones of Bay State Milling’s business. The company has always had an eye for doing something different-from pioneering destination milling, to diversifying into non-wheat, gluten-free, flours, ancient grains, and edible seeds and ultimately launching innovative varietal-specific nutrient-dense ingredients such as their HealthSense high-fiber wheat and SowNaked® high-protein oats. They have built a robust innovation capability that seeks out problems customers need to solve and builds businesses around the products or ingredients that solve them.
Read MoreThis is a selection of our achievements for 2023, showing the milestones we reached last year. Branchfood team members were expert panelists at over twelve events last year, hosted two large networking gatherings, and many other educational and private events. Read on to explore how Branchfood promoted food system innovation last year.
Read MoreOn November 30th, Branchfood, Invest Nova Scotia, and Taste of Nova Scotia hosted “Doing Business in Boston,” an executive workshop for ambitious, export-ready Nova Scotian consumer product entrepreneurs eyeing expansion into New England.
Read MoreIn the buzzing setting of Night Shift Brewing on Lovejoy Wharf, our Connect and Innovate event convened 110 stakeholders representing the frontiers of our industry. It was a pivotal step towards harnessing collective creativity and expertise to pioneer transformative solutions addressing the most urgent food system issues. Read on to hear about the event.
Read MoreThe rapidly evolving world of retail can be daunting, but there are steps Consumer Packaged Goods (CPG) businesses can take to ensure they’re always one step ahead. Branchfood interviewed Georgios Tzafis, VP of Sales at Trax Retail, to gain insights into key tactics that can drive growth for CPG companies.
Read MoreIn today’s rapidly changing business environment, CPG companies face unique challenges in sales strategies. At our recent webinar in collaboration with Trax Retail, our panel of thought leaders shared best practices and innovative strategies for CPG sales teams to thrive in the face of economic uncertainty and drive long-term growth. Read on for exclusive insights.
Read MoreOn July 12th, 2023, Branchfood hosted its annual Summer Meet and Mingle event, bringing together over 150 food innovators for an evening of food, drinks, and exciting conversation. The attendees included founders, investors, and food entrepreneurs, who discussed the latest innovations and news in the realm of food, beverage, and agri-foodtech. Continue reading for some of the evening's highlights, information on local food companies, and more.
Read MoreEarlier this summer, Branchfood had the pleasure of welcoming Lucas Gehlen, Managing Director of Massas Famigliare, as part of the Young Leaders of the Americas Initiative (YLAI) Fellowship Program. Made possible by the U.S. Department of State, the program is designed to empower entrepreneurs, increase trade, and encourage job promotion throughout Latin America, the Caribbean, and Canada. YLAI 2023 fellows are playing a crucial role in the region, building tools, networks, and resources to strengthen economic and social development.
Based in Brazil, Massas Famigliare is a fresh pasta CPG brand combining traditional pasta-making techniques with sustainable production practices to offer consumers a product that is both delicious and minimizes environmental impact. We sat down with Lucas to learn more about his experience as a YLAI 2023 fellow, explore Massas Famigliare’s commitment to sustainability and authenticity, and discover the latest pasta trends.
Read MoreBranchfood's Founder & CEO, Lauren Abda, and COO, Carole Sioufi, recently attended and spoke at the 2-day Future Food Tech Alternative Proteins summit in New York City, a gathering of 500+ founders, funders, and operators from around the world who are investing in infrastructure and emerging companies including enabling technologies and consumer brands with novel proteins as a key ingredient. Read on for our team’s insights into scaling alternative proteins, increasing consumer adoption, and the need for greater ecosystem collaboration to achieve industry sustainability long-term.
Read MoreLast month, our very own, Lauren Abda, Founder & CEO at Branchfood, attended the HackSummit, a leading climate and food conference hosted annually in Switzerland. The conference convened 950 founders, funders, and operators from across Europe and Israel who are creating enabling technologies and consumer brands with the primary objectives of mitigating climate change and improving human health. Read on for insights into the ecosystem in Europe, the latest developments, and how the macroeconomic environment is influencing innovation and funding available for startups.
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