Another Great Step By Kroger as giving $ 2.5 million to fund 10 startups

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According to recent statement given by Kroger, they have announced that they will collaborating and supporting by funding 10 startups. While, ten sustainability-focused startups were selected to receive a total of $ 2.5 million in funding from The Kroger Co Zero Hunger.

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Zero Waste Foundation innovation fund. Agua Bonita, Renewal Mill, and Take Two are among the brands receiving support in pioneering and accelerating solutions to reduce food waste while improving food security. Each startup will be awarded $ 100,000 in seed grants up front and will participate in a virtual workshop and network with investors and mentors via the food system.

Another Great Step By Kroger as giving $ 2.5 million to fund 10 startups

Participants will be eligible for an additional grant of USD 100,000 based on achievement of specific program milestones. At the end of the six-month development period, two startups will be selected for a chance to secure an additional $ 250,000 in financing.

Here is the official statement by the company. “Empowering innovation in the early stages is critical to our mission to create more resilient societies that are free from hunger and waste,” said Dennis president of the Kroger Zero Hunger. “The Innovation Fund is designed to support game-changing ideas to build a more efficient and sustainable future food system for people and our planet. The epidemic and its continuing impacts are a constant reminder that our country cannot afford to waste food surplus anymore.” The Zero Hunger / Zero Waste Foundation, in collaboration with Village Capital and the Fund’s Advisory Committee, reviewed more than 145 applicants. Eighty percent of the startups selected for this program are female, 60 percent have a black, Asian, or Latino founder, and 60 percent are located outside of California, Massachusetts and New York.

While, Agua Bonita, Hanford, California, manufactures drink-ready wall panels using recycled products. Renewal Mill, Oakland, California, is converting byproducts from producing soy milk or oatmeal into essential vegan foodstuffs for food storage. Take Two, Portland, Oregon, offers a milky alternative to leftover malt from brewing beer. The consuming brewer grains are also used in the high protein and fiber flour products supplied by Grain4Grain, San Antonio. Other participants included Husky Prefers, West Palm Beach, Florida. A sparkling tea maker that features an organic coffee fruit peel; Reblend, Denver, which produces frozen smoothies filled with surplus or incomplete fruits and vegetables. And Matriark Foods, Nyack, New York, which works to leverage farm surplus and fresh leftovers into affordable products for corporate food services. Technology startups focused on reducing food waste were also selected, including The Spare Food Co. New York; Nitzrow, Minneapolis; And Gurney Foods, Austin, Texas.

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In this regard, further he added that. “We are incredibly impressed with this new group of creative and innovative thinkers who grapple with the frontiers of recycled food,” said Sunny Railhorn Barr, CEO of the Kroger Zero Hunger. “The Foundation is excited to collaborate with Village Capital to support the second group of innovators who are elevating food to its highest use and disrupting the linear supply chain. On a large scale, each of these solutions has the potential to effect systems change, improve inefficiencies, and prevent food waste. “Recent data shows that an annual investment of $ 14 billion over the next 10 years can reduce food waste by 45 million tons per year,” said Kelly Brian, Director of Sustainability Practices at Village Capital. “We provide financing, comprehensive development, and mentorship opportunities to provide future entrepreneurs and food industry leaders with the best possible start for their business.”  What do you think about this collaboration? Let us know in the comment section below!

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