The California Milk Advisory Board, an agricultural marketing board and agency of the California Department of Food and Agriculture, has selected eight finalists for the Real California Milk Excelerator. The program operates in partnership with VentureFuel, an innovation advisory firm, and identifies, curates, and accelerates dairy-based products.
In its fourth year, the program seeks early-stage companies with growth potential that have a product made with over 50 percent cow’s milk. The competition will award a prize package worth up to $500,000 to startups that introduce innovative benefits and promote California milk and dairy.
"We launched the Excelerator to foster a culture of innovation in support of California dairy and this year's contestants certainly delivered on our high expectations. Our 'Open Innovation' finalists' focus on themes important to the next generation of consumers: sustainable sourcing and use of upcycled materials; clean labels and benefits from convenience to function; and global flavors and ingredients," said John Talbot, CEO of the California Milk Advisory Board, in a statement. "It's exciting to take the next step with each of these candidates in preparation for the final pitch event."
The members of this year’s cohort are as follows:
1. Dosa by Dosa, a maker of Indian Lassi yogurt-based drinks
2. Board at Home, a direct-to-consumer artisanal cheese e-commerce
3. Goon With a Spoon, a premium ice cream company from hip-hop artist and chef Earl “E-40” Stevens
4. Mi Terro, a synthetic biology and advanced material company that turns biomass waste into compostable materials
5. Neutral Foods, a carbon neutral organic half and half product
6. Pariva, a marinated yogurt bites maker
7. Tres Lecheria, a producer of traditional and flavored Tres Leches cake
8. Wheyward Spirit, an alcohol manufacturer whose product is upcycled and distilled from whey
"This VentureFuel innovation program for CMAB was designed to uncover the many uses of dairy," said Fred Schonenberg, founder and CEO of VentureFuel, in a statement. "Our curation of new startup solutions, especially the finalists, demonstrates the many ways dairy can innovate to connect with the next generation of consumers, showcasing sustainable options, creative packaging, new markets, and direct-to-consumer approaches."
The finalists will participate in a pitch competition in November. Up to four of the eight companies will receive $50,000 to grow their product in California, and one startup will receive an additional $100,000 grand prize.
Related: Whole Foods Announces Inaugural Accelerator Cohort; The Hatchery Chicago, Midwest Dairy Host Pitch Contest