US-based food supplier and agricultural cooperative Land O’Lakes has launched an accelerator that will invest in dairy-themed startups, AgFunder News has reported.
Dairy Accelerator will operate as a three-month initiative, with participants each receiving a $25,000 stipend while they prepare to pitch their product to Land O’Lakes executives.
In order to be eligible, companies must make at least $200,000 in annual revenue and have dairy as its primary focus.
Land O’Lakes’ marketing director for innovation and business development, Patrick Aaberg, told AgFunder News: Part of why we launched this program is to influence the conversation around dairy and innovation in new thinking in this space.
“Our primary goal in this first year is supporting the growth of the dairy industry, primarily by targeting small entrepreneurs who need assistance getting to that next level of scale.”