Startups Amazing Ice Cream, Arbo's Cheese Dip, Petit Pot and WonderCow claimed victory at the 5th Annual Real California Milk Excelerator Final Pitch Event. Created by the California Milk Advisory Board (CMAB) and innovation advisory VentureFuel, the competition is designed to find, fund and accelerate innovation in dairy-based products, from consumer food and beverages to textiles and beyond. The four cohort winners will each receive $30,000 in resources and funding to scale their products in California and will compete for an additional $100,000 in support based on continued performance over a period of one year.
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In its fifth year, the 2023 Real California Milk Excelerator advances innovation in its truest state: open innovation. As one of the largest dairy competitions in the world, the program sought early-stage applicants with high-growth potential that create a 50% cow's milk-based product or working prototype.
Eight finalists participated in the November 16th live pitch event where they presented to judges from companies representing retail, consumer packaged goods, food distribution and media before a live audience of key stakeholders. During the event, 2022 cohort members dosa by DOSA and Wheyward Spirit each unlocked $100,000 and $25,000 in additional funding after demonstrating their ability to grow their businesses in California over the past 12 months. The event also featured a first ever "Future of Dairy Expo" where attendees tasted and tested products from 15 of the industry's most innovative startups, and a panel highlighting insights on the impact of dairy innovations on retail sales and consumer behavior.
The Excelerator's eight finalists were selected from a field of dozens of qualified entries and over the course of 12 weeks had access to a group stipend and a robust network of resources to refine and scale their product and business. They also participated in the CMAB/VentureFuel Mentorship Program, consisting of elite counsel from successful founders, investors, leading corporate executives, and experts across design, marketing, sales, manufacturing, distribution, farming, and processing industries. Past mentors have included venture capitalists, successful entrepreneurs, and executives from organizations like Unilever, UNFI and Mondelez. The total value of competition awards is half a million dollars.
The 2023 Real California Milk Excelerator celebrates the state's role as the number one producer of dairy in the United States. California, known for innovation, has a reputation for quality dairy products and leads the nation in sustainable dairy farming practices. More than 1,100 family dairy farms produce the milk found in fluid milk, cheese, butter, yogurt, ice cream, and other dairy products identified by the Real California Milk seal.
Over the past four years, the Real California Milk Excelerator has worked with more than 45 startups across numerous categories including food, beverage, direct-to-consumer platforms, textiles, and personal care. Representing nearly 40 percent of states across the U.S., program alumni have gone from idea to distribution with organizations such as UNFI and KeHE; and many can now be found on the shelves of retailers like Walmart, Safeway, Kroger, Amazon, and Whole Foods.
