Innovation is always at the forefront of the dairy industry and the California Milk Advisory Board (CMAB) is accelerating this pioneering energy. Launching the Real California Milk Snackcelerator, CMAB hopes to inspire new ideas that integrate the flavor and functionality of California dairy into snack formulations that meet the needs of today’s consumers.
“Dairy and snacking are natural partners. Not only do dairy foods make the perfect snack on their own, the flavor, nutritional profile, and functionality of milk and other dairy products as ingredients are hard to duplicate. As consumers look for snacking options with natural ingredients that deliver something extra—whether a specific flavor profile or a boost of quality protein or other essential nutrients—product developers appreciate what dairy brings to the table,” said John Talbot, CEO of the CMAB. “The goal of this competition is to tap into our global obsession with snacking to inspire new ideas and help clear the hurdles to bringing these products to market.”
Over $450,000 in awards await those who attempt to make a snacksterpiece, and as snacking has become one of the most enduring food movements in modern history, the chance to leave a mark is right at the fingertips of new businesses. After all, what does better with high-quality, sustainable dairy than the insatiable California entrepreneurial spirit?
The competition aims to inspire innovation and investment in dairy-based snack products by connecting the dots between processors, producers, investors, ideas, and entrepreneurs.
VentureFuel, an innovation consultancy, is again partnering with CMAB to run the program, a press release noted.
“Our first program with CMAB proved the value of marrying innovation and dairy as we were able to bring delicious and diverse products to market quickly, while providing founders unprecedented mentorship and access to accelerate their success,” said Fred Schonenberg, Founder of VentureFuel. “CMAB’s continued commitment to product innovation now will inspire great new snacks for consumers to enjoy and further increase the demand for California Dairy.”
Through the Real California Milk Snackcelerator, the CMAB is seeking high-growth potential snack product concepts, with cow’s milk dairy as their first ingredient and making up at least 50 percent of their formula. If the companies win the competition, they will continue to produce the product in California with milk from California dairy farms.
Up to eight companies will receive $10,000 worth of support to develop an edible prototype, while receiving a suite of resources. They also will receive a business development trip (or virtual equivalent) to tour dairy farms and production facilities and to meet with industry leaders to help drive success of their new venture.
The winner will receive up to $200,000 worth of additional support to get their new product to market. The value of the competition prize is $450,000.
Good luck to those dairy innovators out there!