According to the official news by Kroger, the Zero Waste Foundation announces an open call for a second Innovation Box Group. In collaboration with Village Capital, the Foundation welcomes startups with creative ideas to end food waste in the United States to apply for a Business Finance and Development Program.
While, the inviting eligible innovators with ideas and solutions to prevent food waste to apply by April 1st forbusiness support and financing totaling $ 2.5 million. Grant. “The Kroger Co Zero Hunger | Zero Waste Foundation is committed to helping build a more efficient, resilient diet and philanthropic diet in the United States and beyond,” said Dennis Osterhoes, president of the Kroger Co Zero Waste. Zero Waste Foundation. “In the wake of the COVID-19 pandemic and its economic impacts, we are more determined than ever to direct as much food as possible to its supreme goal: to feed people. We can no longer afford to waste surplus food at any level in our region. That is why, we are pleased to present the Innovation Fund’s second open call for proposals that directly support promising new ways of manufacturing, processing or distributing recycled consumer food products.”
Recycled food is the next frontier in recovering and reusing food that would otherwise go to landfills, encouraging the reintroduction of food and reuse in the supply chain. Applicants are invited to submit proposals promoting a business model that requires surplus food or food by-products to be obtained and manufactured into new consumer-facing products.
Following this open call, the Foundation – in collaboration with Village Capital, the world’s largest supporter of impact-based and early-stage startups, and the fund’s advisory committee – will review the applications and select 10 startups. Each startup selected for the second group of the fund will receive $ 100,000 in seed money upfront, with a total initial investment of $ 1 million. Thereafter, beneficiaries will participate in a virtual workshop focusing on investment preparedness, technical skills development and networking with a community of investors and mentors in and around the food system. The second group will have exclusive access to the Foundation, leaders and partners of Village Capital, as well as the option to apply for subsequent funding. Each group member will be eligible for an additional grant of US $ 100,000 from the fund based on achievement of specific program milestones. At the end of the six-month development period, two startups will be selected by their peers for a chance to secure an additional $ 250,000 in funding.
While, the 35% of the food produced in the United States is eliminated, yet 50 million Americans go hungry every day. Including an estimated 17 million children,” said Sunny Railhorn Barr, CEO of Kroger Corporation, Zero Hunger | Zero Waste Foundation. “We welcomed the first innovation fund group in 2019, by awarding a total of $ 1 million to accelerate programs and solutions developed by startups Food Forest, Imperfect Foods, mobius, Replate, Ripe Revival, Seal the Seasons and Winnow. Now, we are keen to act With Village Capital to accelerate partnerships with creative thinkers and problem solvers who share our vision of a world in which food waste is no longer a reality.”
To learn more about the Foundation Call and Apply, please visit ZeroHungerZeroWasteFoundation.org