Friday, May 29, 2020

Mondelēz unlocking snacking opportunities with Israeli foodtech incubator

Mondelēz International has teamed up with Israeli foodtech incubator, The Kitchen, to unlock growth opportunities in the snacking sector around the globe.

Through the collaboration, which will be led by Mondelēz International’s R&D and SnackFutures team, the company will have unparalleled access and visibility to one of the world’s leading FoodTech ecosystems.

At the same time, it will offer technological and commercial expertise to entrepreneurs from The Kitchen and provide an opportunity to work in the company’s global Technical Centres, including access to pilot plants and internal experts across a variety of areas such as R&D, food safety, marketing insights and operations.

“With over 6,600 active start-up companies and a steady growth year on year, the Israeli innovation ecosystem is one of the most dynamic in the world and we’re thrilled to be part of it,” said Tim Cofer, Executive Vice President and Chief Growth Officer of Mondelēz International.

“We’re looking to collaborate with the best and brightest talent in advancing the future of snacking.

“We know we don’t have all the answers within our four walls, so we’re on a mission to create an unconventional ecosystem of partners. The collaboration with The Kitchen is another great example of this ecosystem at play.”

Counting 12 portfolio companies so far, The Kitchen addresses global food challenges by nurturing and investing in cutting-edge technology start-ups.

The goal is to nourish promising FoodTech ventures that can disrupt the global food system – making it more productive, more affordable, more sustainable, and healthier.

“The Kitchen, as a ventures builder, constantly seeks to bring value to its portfolio companies,” said Jonathan Berger, CEO of The Kitchen.

“Partnering with an industry leader such as Mondelēz International will bring tremendous value to The Kitchen and our portfolio companies.”

As part of the collaboration, Rob Hargrove, Executive Vice President, Research, Development and Quality at Mondelēz International, joined The Kitchen Advisory Council.

“There’s no doubt that Israel is a world leader in food and agricultural innovation, and we’ve been truly inspired by the talented entrepreneurs that are part of The Kitchen,” he said.

“We’re looking forward to collaborate with those start-ups, be it to jointly develop new technologies or to provide help and expertise in specific fields.”

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