The seven winning brands were chosen from over 120 applications received from UK based healthier food and drink brands. Initially launched pre-lockdown in March, the UK based programme is designed to support healthier challenger brands who can target a reduction in childhood obesity with products that can appeal across all consumer demographics.
The prototype Good Food Fund, which consists of the accelerator and a £1.8m venture fund, will provide business support and allocate finances to brands bringing healthier options to the market.
The after-school snacking occasion was a key focus for the Mission Ventures team during their selection process. The long-term aim for working with these brands is to transform the options available to families by supporting healthier challenger brands to retail at an affordable price point.
Mission Ventures CEO Paddy Willis said, “From a very strong field we’ve selected seven young brands for our initial intake that represent a great cross-section of healthier snacking options for young children. We’re excited to start working with them to help direct their appeal to low income families as part of shaping an overall market proposition that accelerates scale-up.”
- Nombots - Quinoa crisp that brought to life with robots characters
- Insane Grain - A sorghum puff in salt and vinegar, cheese and salted caramel
- Naturelly - Jelly snack made from real fruit juice
- Jim Jams - Chocolate dipper. 83% less sugar than alternative products
- Lexi’s Treats - Healthy marshmallow crispy squares
- Rootles - Chocolate covered biscuits made using 40% carrot
- Snackzilla – Healthy oat cookies for on the go snacking
Mission Ventures is described by director Nigel Parrott as “an accelerator that’s run by entrepreneurs for entrepreneurs. Instead of teaching the programme in a cohort, we work with entrepreneurs on a unique 1:1 accelerator process we call the MissionMap. The MissionMap focuses on why the business will win in the category through establishing a deep understanding of the consumer need then delivering to that throughout the marketing mix. As entrepreneurs ourselves, we understand the need for guidance and input on a 1:1 basis that shapes a long-term strategy. ”
Reflecting on current conditions, Willis added that “Entrepreneurs never stand still for long. Despite the challenges of COVID-19 we’ve been able to press on with this selection via strong remote teamwork amongst all partners involved, including Big Society Capital, Guys & St Thomas’s Charity and fund managers Ascension Ventures.”