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Mondelēz International to Collaborate With Israeli FoodTech Incubator, The Kitchen, to Lead the Future of Snacking
DEERFIELD, Ill., April 25, 2019 (GLOBE NEWSWIRE) -- Mondelēz International announced today it has reached a collaboration agreement with The Kitchen, Israel's only FoodTech-focused incubator and one of the first FoodTech incubators in the world. This collaboration is led by Mondelēz International’s R&D and SnackFutures teams, the company’s innovation and venture hub aimed at unlocking snacking growth opportunities around the world.
Through the collaboration, Mondelēz International will have unparalleled access and visibility to one of the world’s leading FoodTech ecosystems. At the same time, Mondelēz International will offer technological and commercial expertise to entrepreneurs from The Kitchen and provide an opportunity to work in the company’s global Technical Centers, including access to pilot plants and internal experts across a variety of areas such as R&D, Food Safety, Marketing Insights and Operations.
“With over 6,600 active start-up companies and a steady growth year on year, the Israeli innovation ecosystem is one of the most dynamic in the world and we’re thrilled to be part of it,” said Tim Cofer, Executive Vice President and Chief Growth Officer of Mondelēz International. “We’re looking to collaborate with the best and brightest talent in advancing the future of snacking. We know we don’t have all the answers within our four walls, so we’re on a mission to create an unconventional ecosystem of partners. The collaboration with The Kitchen is another great example of this ecosystem at play.”
Counting 12 portfolio companies so far, The Kitchen addresses global food challenges by nurturing and investing in cutting-edge technology startups. The goal is to nourish promising FoodTech ventures that can disrupt the global food system - making it more productive, more affordable, more sustainable, and healthier.
“The Kitchen, as a ventures builder, constantly seeks to bring value to its portfolio companies,” said Jonathan Berger, CEO of The Kitchen. “Partnering with an industry leader such as Mondelēz International will bring tremendous value to The Kitchen and our portfolio companies. We look forward to working with their dedicated team and to introducing Israeli FoodTech innovation from seed to shelf around the globe.”
As part of the collaboration, Rob Hargrove, Executive Vice President, Research, Development and Quality at Mondelēz International, joined The Kitchen Advisory Council. “There’s no doubt that Israel is a world leader in food and agricultural innovation, and we’ve been truly inspired by the talented entrepreneurs that are part of The Kitchen,” said Rob Hargrove. “We’re looking forward to collaborate with those start-ups, be it to jointly develop new technologies or to provide help and expertise in specific fields.”
A key pillar of the company’s consumer-centric growth strategy, SnackFutures is designed as an independent hub that brings three core tenets of growth under one umbrella to accelerate innovation: invention of new brands and businesses; reinvention of small-scale brands with large-scale potential, and venture investments with start-up entrepreneurs to bring emerging brands and strategic capabilities. SnackFutures seeks to collaborate in three key strategic areas: well-being snacks, premium snacks, digital platforms and capabilities. Check https://www.snackfutures.com/ for more information on how entrepreneurs and partners can submit innovative ideas.
About Mondelēz International
Mondelēz International, Inc. (NASDAQ: MDLZ) empowers people to snack right in approximately 150 countries around the world. With 2018 net revenues of approximately $26 billion, MDLZ is leading the future of snacking with iconic global and local brands such as Oreo, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.
About The Kitchen
Founded in 2015 as a part of the incubators program of Israel Innovation Authority, and owned by Strauss Group, The Kitchen is Israel's only FoodTech focused incubator. The Kitchen addresses global food challenges by harnessing Israel’s renowned innovation eco-system. Some examples of their areas of interest are: supply chain technologies, efficient food processing, sensors for food safety and quality, prolonged shelf-life and reduction of food spoilage, smart packaging, ingredients and products with new health benefits, improved nutritional profiles, reduction of environmental foot prints. Discover more at www.thekitchenhub.com.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/bd989917-0204-470e-98e1-5ea2284be833