Mondelez International, the global confectionery giant, has launched CoLab, a new program designed to engage with early-stage startups in the snacking segment. The program aims to support these startups by providing them with funding, mentorship, and education.
Mondelez has chosen India as the first market outside the US for this initiative. The program is a collaboration with early-stage startups in the snacking segment, and the company hopes it will help these companies explore, identify, and participate in high-growth snacking trends.
In recent years, India has seen a surge in direct-to-consumer brands across several emerging snacking trends, driven by a fertile startup ecosystem supported by a millennial consumer base.
Deepak Iyer, President-India at Mondelez International, said, “A fertile startup ecosystem supported by a millennial consumer base has led to a plethora of direct-to-consumer brands across several emerging snacking trends.” He also added that “It is aimed at creating a platform to attract relevant startups in the snacking space while catering to the evolving snacking preferences of consumers.”
Through the CoLab program, Mondelez hopes to build and leverage the snacking category while supporting and mentoring the emerging startups in India. The program will provide funding, education, and mentorship to the participating startups, enabling them to explore and identify new snacking trends, while building on their existing strengths.
Through the initiative, Mondelez will be able to develop a strong partnership with these startups and help them grow in the snacking space, thereby benefiting the overall snacking market in India.
Overall, the CoLab program is a significant step by Mondelez in expanding its reach in India while simultaneously helping the emerging startups in the snacking space. It will be exciting to see how this program plays out and what kind of innovations and trends emerge from the startups that participate in it.
