Rabobank Announces New, Dynamic Structure for FoodBytes! Innovation Platform in 2022
innovation platform to drive greater sustainable innovation, collaboration for speed-to-market, and market responsiveness.
NEW YORK, Jan. 27, 2022 /PRNewswire/ -- Today Rabobank, a leading global food and agribusiness bank, announced pivotal changes to its FoodBytes! innovation platform to drive greater sustainable innovation, collaboration for speed-to-market, and market responsiveness. Starting this year, FoodBytes!, Rabobank's discovery platform that champions cross-industry collaboration between the most promising startups, corporates and investors, will move beyond its annual pitch competition and expand to a continuous scouting model, with fifteen startups selected to participate in programming every quarter.
Within the new model, FoodBytes! will also be streamlining the platform's sectors - agtech and food tech will now become the primary focus, while CPG startups will be encouraged to apply and participate if they have a defensible underlying technology or a novel supply chain innovation. The platform will also be introducing a new Beta digital hub that aims to continuously connect vetted startups with investors and corporate members in an effort to drive solution-based collaboration to improve future food systems.
"FoodBytes! has become a formidable force within a rapidly evolving food system," said Anne Greven, Global Head of F&A Innovation and FoodBytes! at Rabobank. "As we continue to face new challenges from increased demand for food, changing consumer preference, and the need for sustainable food production, it only makes sense to refocus the way we operate in an effort to be even more effective in connecting food industry leaders and investors with deployable, impactful solutions for triple-bottom-line business growth."
For the first quarter of 2022, FoodBytes! will be scouting startups around the theme of Meeting New Consumer Demand, specifically within the following five categories: diversified ingredients, traceability and sustainability metrics, nutrition and immunity within functional foods, novel packaging and consumer wearables as nutritional guides.
While FoodBytes! has evolved through the years to meet industry demands, specifically shifting from an annual in-person pitch competition to an all-virtual offering in 2020, the brand's purpose has remained the same since its inception in 2015. As one of the industry's most valuable global networks, FoodBytes! helps startups validate and grow their businesses, and their impact, through global industry exposure, tailored mentorship sessions with major food and ag companies, and individualized strategic connections with investors. While beneficial for startups, FoodBytes! remains a trusted resource to both corporates and investors within the network - not only granting access to a vetted pipeline of innovation, but acting as the facilitator to curate peer-to-peer conversations to accelerate change. Like previous years, corporate members will be heavily involved in the scouting process - having the opportunity to review quarterly and participate in pitch review sessions to ultimately foster the right connections for their respective businesses.
FoodBytes! startups offer corporate and investor members readily deployable solutions to real-world business opportunities. For example, FoodBytes! member Hormel Foods recently announced a new collaborative relationship with FoodBytes! alum Pleese Foods, after the two were introduced through the platform. Pleese's meltable plant-based cheese has been an essential ingredient in Hormel's new plant-based line, Happy Little Plants.
Aligned with scouting efforts, FoodBytes! is also revealing the first in a quarterly series identifying the most pressing consumer food and agriculture sustainability demands - introducing FoodBytes! Industry First Look: Four Must-Act-On Sustainability Solutions for Companies in 2022. This report highlights timely issues facing the food and agriculture industry and provides actionable solutions for corporate and investor leadership. To read more, visit here.
Additionally, this year, FoodBytes! will continue to host its series of webinar panels to lead thought-provoking discussions around timely topics within food and ag with various industry experts. The first FoodBytes! Forum of 2022 will take place on February 16 and will focus on one of the themes in the newly released Industry First Look. Featuring recent FoodBytes! winner and alum Great Wrap, and other industry experts, attendees can expect a deep dive into why sustainable packaging is a high priority for corporates and what different players in the space are doing to address it. If you're interested in attending, sign up for the FoodBytes! newsletter to learn more.
Beginning today, if you're a startup looking to get involved in the FoodBytes! community, please visit www.foodbytesworld.com/apply to learn more and apply by February 28 for our Q1 program.
If you're a corporate or an investor interested in learning how innovation can boost your bottom line, please email [email protected] today to start a conversation.
About FoodBytes! by Rabobank
FoodBytes! by Rabobank, the F&A Innovation team and discovery platform within Rabobank, a leading global food and agriculture bank, champions cross-industry collaboration between the most promising startups, corporates and investors. It supports the bank's global mission of Growing a Better World Together - helping to turn today's promising ideas into impactful solutions for a sustainable food supply - and has developed one of the world's premier food and ag innovation networks through proprietary scouting methodology. To learn more, visit foodbytesworld.com or follow FoodBytes! on LinkedIn, Twitter, Facebook, Instagram and YouTube.
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