From Cricket flour protein bars to enhanced mushroom beverages one thing is certain about the food industry: Innovation is thriving. Although a ripe environment for food entrepreneurs to pitch their products, the increasing number of ideas is making it difficult to stand out to investors.
Jordan Gaspar and Lauren Jupiter identified this need and started AccelFoods, the first incubator for food startups, to help foodpreneurs jumpstart their businesses.
As culinary experts, founders, and venture capitalists Gaspar and Jupiter share the key ingredients to pitching food products to investors.
- Include each component of your company (think production, delivery, packaging, distribution etc.) in a brief, well designed presentation.
- If you don’t already have a strong demand for your product VCs won’t either. High growth trajectories are the driving reason behind funding; Solve early stage problems before investor meetings, that way when they ask, you’ll already have an answer.
- Present your finances clearly. Ask yourself what the key revenue drivers will be for your brand – How will you attain an attractive long term gross margin number?
- Founders come in at a very close second to their product – Venture capitalists want to invest in a management team they trust.
- Timing is everything. Your reputation is formed the moment you reach out to VCs.