Mondelēz International’s global startup accelerator programme CoLab has launched in India, in collaboration with Huddle, to grow innovative early stage snacking brands. This also marks the 75th year of Mondelez’s presence in India
CoLab will bring in Mondelēz’s global, Indian leaders and industry experts to mentor upto seven selected early stage startups, across a 12-week curriculum, consisting of virtual sessions and personalised interactions
The selected startups will also receive a $20,000 grant, along with the opportunity to raise funding from Huddle and other prominent VCs in India
According to Deloitte’s 2022 survey on Indian consumer habits, consumer spending has slowed down by 18%, due to stubbornly high inflation and a sluggish economy. But snacking has risen steadily since the Covid days. People staying at home and working remotely have increasingly binged on comfort foods and even replaced large meals with functional snacks, delicious but full of added nutrients. In brief, the snacking trend has evolved. “As the company marks 75 years in India, the launch of CoLab reinforces our commitment to being a consumer-centric brand in India. This gives us the opportunity to nurture the growing entrepreneurial talent in the country while unlocking new ideas that drive innovation and scalability in the snacking space”, said the president of Mondelez India, Deepak Iyer about the initiative. “We are looking for brands that are unlocking new snacking trends and are unconventionally delicious. Brands that are pushing the boundaries with respect to flavours, experience, sustainable packaging, strategies to gain retailers’ attention and creatively retaining customers”, said Mitra.
The narrative is no longer built around bland health foods with fewer carbs but tasty specialty items filled with natural goodness and all sorts of plant-forward experimental foods. The traditional cookies, crackers and ice creams, wraps, pasta and noodles are now blended with fruits and veggies, while natural flavours (derived from botanicals) lower the usage of salt and sugar.