The California Milk Advisory Board (CMAB) announced today the return of its dairy product innovation competition with the launch of the Real California Milk Snackcelerator to inspire new ideas integrating the flavor and functionality of California dairy into snack formulations that meet the needs of today's consumers.
With more than $450,000 in awards, the Real California Milk Snackcelerator taps into the $605 billion global snack food market1 while combining two of California's great natural resources: High quality, sustainable dairy products and the insatiable California entrepreneurial spirit. The competition aims to inspire innovation and investment in dairy-based snack products, packaging and capacity within California by connecting the dots between processors, producers, investors, ideas and entrepreneurs.
"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."
The inaugural Real California Milk Accelerator event in 2019 brought nine innovative fluid milk startup finalists to a live pitch event and built the model for dairy product competitions. The 2019 winner, Bears Nutrition, will launch its ready-to-drink milk-based nutritional shakes for children at retail test markets this fall along with companion "Immunity Nourishment" and "Brain Booster" milk powder-based nutritional shake mixes online.
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% of their formula. The startups will need to commit to producing the product in California, with milk from California dairy farms, should they win the competition.
Up to eight startups will each receive $10,000 worth of support to develop an edible prototype, while receiving a suite of resources including graphic design, lab or kitchen time and elite mentorship from global marketing, packaging, and distribution experts. 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.
Competition rules and application documents are available at venturefuel.net/snackcelerator and the deadline for application is August 28, 2020.