Accelerator, incubator and venture capital programs are proving to be a win-win for baking companies of all sizes. While there are a variety of programs to choose from, finding value is about matching a brand and its business goals to the strengths of the right partnership.

“Wonder Monday is profitable, but the community and connection benefits that Mondelez’ CoLab offered made sense for our business,” said Candace Wu, co-founder of Wonder Monda. “At the same time, we bring to the table expertise as a fast-growing digitally native CPG brand. This aspect of our business differs from the retail-first origin of most brands in the Mondelez portfolio.”

Product formulation, financing, industry connections and community are all benefits that new or existing brands can receive from these programs.

“We get insights, ideas and capabilities that we can integrate into our businesses to accelerate innovation,” said Jackie Haney, innovation and CoLab program manager at Mondelez International. “At the same time, we provide resources, expertise and an ecosystem that can help brands poised for growth reduce barriers and find solutions to grow faster.” 

Innovation is the name of the game in every industry. Commercial baking manufacturers need that extra help as a sounding board and to gain experience and additional insights to reach that target consumer.

“Consumers are always looking for that shiny new penny,” said Kimberle Lau, founder of Bake Me Healthy. “As founders, we cannot do it by ourselves and need the support and expertise upfront, so we are not starting from scratch.”