ASIA – Israeli plant-based yoghurt maker, Yofix has won the Nutrition Greenhouse programme, PepsiCo’s health and wellness incubator in Europe and has been awarded US$115,435 (100,000 Euros) final grant.
The company which makes clean-label plant-based fermented dairy alternatives is was declared the winner after a six-months journey with PepsiCo’s selection committee.
Yofix was acknowledged for its strategic launch and significant retail growth during the programme.
It was granted the prize after an extensive review and assessment period by the assessment committee.
“It has been a privilege to partner with another stand-out group of exciting, innovative entrepreneurs in the second year of our Nutrition Greenhouse incubator programme in Europe.
Our vision remains steadfastly the same as when we launched in 2017; to support forward-thinking food and beverage start-ups deliver great-tasting, nutritious products to people around the world.
“Using our industry expertise, we’ve helped accelerate the growth of ten impressive new businesses, marking another successful year of learning and collaboration for both the start-up class and our PepsiCo mentors,” said David Schwartz, senior director of innovation at PepsiCo Europe and Sub-Saharan Africa, and leader of the programme.
During the initiative, Yofix opened a new manufacturing facility, carried out a nationwide product launch in Israel, and completed the strategic development of an international go-to-market plan.
It is said to have achieved more than 400% growth in the period.
The startup which appointed Steve Grun as CEO in 2018 intends to use the €100,000 prize to explore opportunities in European markets.
“The company’s achievements over the last six months wouldn’t have been possible without that guidance, along with the wider support network of my fellow 2018 Greenhouse finalists.
I look forward to seeing how the programme evolves in the future and wouldn’t hesitate in recommending it to other budding entrepreneurs and start-ups,” said Grun.
The incubator launched earlier this year, focuses on nutrition food and beverage products aimed at European consumers with sales of €5 million or less.
Yofix was among the ten finalists announced by PepsiCo including A1C Foods, Agrasys, Gryö, Le Petit Béret, Nibble Protein, Revolicious, Rokit Pods, The Sprouted Grain Company and Welldrinks.
In the first edition of the programme, UK start-up Erbology received the €100,000 grant.