Meat processor and supplier Tyson Foods has forged partnerships with innovation platform Plug and Play and startup hub 1871 that will help it access startups in their local communities.
The agreement means Arkansas-headquartered Tyson will be able to form connections with early-stage companies operating near Silicon Valley-based Plug and Play and Chicago-situated 1871.
Tyson has been an active part of the corporate venturing community over the past year, investing in plant-based food developer Beyond Meat and smart oven producer Tovala while establishing a $150m fund called Tyson New Ventures.
Sally Grimes, Tyson’s president of prepared foods, said: “Our collaborations with Plug and Play and 1871 are examples of how we are adopting new growth models to innovate faster than consumers and markets are changing.
“By partnering with these organisations and combining Tyson Foods’ resources, capabilities and team members with the energy and innovation coming out of Silicon Valley and Chicago, we can have a positive impact on the industry and the food system.”