The California Milk Advisory Board announced 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 market 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.
Research shows that consumers are snacking more than ever
before. According to Mondelez International, 59% of adults worldwide prefer
snacking to meals with that number increasing to 70% for millennials. The Real
California Milk Snackcelerator aims to uncover healthy, natural options to
satisfy these cravings.
"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 receive $10,000 worth of support
each, 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.