FaB (Food and Beverage) Wisconsin has opened the application process for its second FaBcap Accelerator class designed to build the capacity of fast growing companies. "After a successful first class, we’re excited to give another round of companies a full year of one-on-one coaching and support to improve their capacity for growth," said Shelley Jurewicz, executive director, FaB Wisconsin.
Interested companies can apply at FaBWisconsin.com no later than Aug. 16. Applicants must be a Wisconsin-based food, beverage, ingredients, packaging, equipment manufacturing, or industry technology company making or providing a product, service or technology that is industry-leading. They must be independent or privately-owned (not a subsidiary, franchise, or division) with two or more full-time employees and generating $50,000+ revenue. "We’re looking for companies that are on the front edge of the industry and that have serious ambitions to grow their business," said Jurewicz.
FaBcap’s first class of 10 companies included City Lights Brewing, East Shore Specialty Foods, Clock Shadow Creamery, Gorilly Goods, MobCraft Beer, Nikki’s Cookies, Noble View Cheese, Quigistics, Top Note Tonic and Valentine Coffee. Highlights of success from the first class include three new facilities (City Lights Brewing, MobCraft Beer and Valentine Coffee) and a formal partnership between Gorilly Goods and Nature’s Path, North America’s largest maker of organic breakfast cereal.
"We’ve made some improvements to our year-long accelerator program to better benefit the selected companies," said Brad Rostowfske, FaB’s Director of Industry Growth. "Class two will include company mentors and will see increased interaction with program sponsors offering technical and business expertise." The FaBcap Accelerator will continue to offer one-on-one business coaching with Rostowfske, finance coaching with Tera Johnson, Director of the Food Finance Institute, four facilitated cohort roundtable meetings, and an opportunity to pitch to investors, culminating in a $10,000 cash award upon completion.
Small food and beverage companies looking to learn more are encouraged to attend FaB’s Scaler event, Wednesday, July 19, 1-5 p.m., or to visit the FaB Wisconsin website for more information.
The ten selected companies, referred to as "Cappers," will be announced August 25 and featured at FaB’s Innovation Conference, Sept. 21 at Marquette University. The conference will also include a keynote presentation on industry trends by the Editor in Chief of Food Processing Magazine (and Marquette grad), Dave Fusaro. The accelerator will conclude in September 2018 with Pitch and FaBcapstone events.
Funding support for the FaBcap Accelerator program comes from The Wisconsin Economic Development Corporation (WEDC), J.P. Morgan Chase Foundation, and corporate sponsors Bader Rutter, Bank of America, Chortek LLP, Quigistic, Reinhardt Boerner Van Deuren s.c., Sargento, and Society Insurance.