Yummy Industries' Cheese-Bits Awarded $100,000 in Support as Runner Up in California Milk Advisory Board and VentureFuel's Partnership to Spur Dairy Product Innovation
Peekaboo Organics' ice cream featuring hidden vegetables was named the grand prize winner today of the Real California Milk Snackcelerator dairy snack innovation competition created by the California Milk Advisory Board (CMAB) and VentureFuel. The competition will provide Peekaboo with $200,000 in resources and funding to bring a snack-sized version of their innovative products to market and expand the overall market for their products. This is the second event of its kind by the California dairy industry designed to inspire ideas integrating the values of fluid milk and dairy ingredients into snacks to meet growing consumer demand and providing resources to help bring them to market.
As presented by Founder and CEO, Jessica Levison, Peekaboo's mission is to solve the parental dilemma of getting children to consume more vegetables by putting them into a format they can't get enough of – ice cream. As the owner of a popular ice cream scoop shop in Miami, she turned her frozen dairy knowhow into flavorful super-premium ice creams hiding a nutritious, vegetable secret. The products are currently available in pints at select retailers but Levison is looking forward to introducing the single serve snack line and expanding distribution with Real California Milk at the core.
"Like many of our fellow startups, we confronted what seemed like insurmountable challenges this year. This win validates our innovation, our mission and our team's hard work and resilience," said Levison. "We learned so much from this Snackcelerator experience and cannot wait to launch Peekaboo minis into the market – made with Real California Milk, of course! Much gratitude to everyone involved."
Peekaboo is one of four innovators selected from a field of 16 sweet and savory semi-finalist competitors to present to a field of judges from the CPG, retail, venture capital and food science world representing such companies as Clorox, Mondelez, Whole Foods, CircleUp and more in a live pitch (and sample) event tapping into future technologies and emerging startups like OS Studios, Perksy and more to transform what was an in-person sampling experience into a state-of-the-art virtual event. Alongside three other finalists, Peekaboo was judged on uniqueness or innovation, taste, the ability to scale and the founder team. Yummy Industries came in second place with their Cheese-Bits premium snacking cheese packs and will receive $100,000 in support for growth and distribution.
"Being selected as a semi-finalist really was significant for us because we were associated with a tremendous caliber of founders and snack concepts," said Yummy Co-Founder Stefen Choy. "Throughout this process, the feedback and mentorship sessions have really help move our business forward significantly. We have changed our strategic plan and even added a broker based on this competition. The bonus of continued support as a runner up is icing on the cake."
The Real California Milk Snackcelerator competition was designed to inspire innovation and investment in dairy based snack products, packaging and capacity within California by connecting manufacturers, producers, investors, ideas and entrepreneurs for high quality, sustainable products. The competition received 76 entries, which inspired expansion from the original eight finalists to 16 representing both sweet and savory snacking startups in the Sweet & Savory 16 virtual semi-finals the week of November 9th.
"This was a tough decision, all four of these finalists presented products that fit the needs of our current consumer and each with their own unique take on snacking. Peekaboo just had a slight edge because of its unique concept marrying two things that normally don't go together like ice cream and vegetables and then executing the product perfectly in terms of creative flavor combinations," said John Talbot, CEO of the CMAB. "Not only are we excited to grow the dairy snack portfolio offered with Real California Milk by helping to expand distribution for Peekaboo ice creams, we look forward to continuing our relationship with all of our finalists and semi-finalists to see what they are able to achieve."
"Innovation is the ultimate growth accelerator for any business or category and this competition continues to deliver a flywheel of new ideas, new products and new ways to think about dairy from a consumer perspective," said Fred Schonenberg, CEO and Founder of VentureFuel. "When my family begged me for more samples between the semi-finals and finals, I knew we had chosen four winners all, of which can make an impact on-shelf. Peekaboo's cotton-candy with beets flavor dominated the pre-judge chatter as one of the most delicious and unique desserts the judges had ever tasted, meanwhile Cheese-Bits was the product everyone was snacking on behind the scenes. They are making premium cheese easy to snack on and introducing new styles and flavors that will stand out."
All sixteen semi-finalists received $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 from companies including Diageo, Nestle, Mondelez, My/Mo Mochi Ice Cream, Bristol Farms, Rosa Brothers, Food Network/Hearst Magazines, Pod Foods, Latitude Ventures, The Marketing Greenhouse, The Creative Pack, Whole Brain Consulting and Power Brands. Semi-finalist rounds were judged by a prestigious group of snack experts from Conagra, SnackRiot, Hershey's, Bristol Farms, General Mills, Unilever, Mondelez, Rosa Brothers, RangeMe, Acreage Holdings, Better Food Ventures and Trail Mix Ventures. The total value of competition prizing is over $800,000.
California, known for innovation, has a reputation for quality dairy products. As the number one producer of fluid milk in the nation, California also leads the nation in sustainable dairy farming practices. More than 1,200 family dairy farms produce the California milk found in fluid milk, cheese, butter, yogurt, ice cream and other dairy products identified by the Real California Milk seal.
About the RCM Snackcelerator
The Real California Milk Snackcelerator taps into the $605 billion global snack food market1 while combining two of California's abundant 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.
About the Technology
- OS Studios: provides market leading creative, production and consultancy services to brands wanting to take the lead in content & live production, with a key focus on gaming and esports.
- Perksy: Market research for the mobile generation. Perksy powers real-time research with Millennial & Gen-Z audiences through mobile.
About VentureFuel, Inc.
VentureFuel helps established companies around the world unlock growth and discover efficiencies by partnering with emerging startups and breakthrough technologies. Our innovation programs solve specific challenges with tangible results, discover first-to-market opportunities and help large organizations develop a repeatable innovation mindset. We are 100% independent, sourcing from our global network of the best investors, scouts, founders and academics. Learn more at: www.venturefuel.net, Linked-In, Twitter and Instagram. You can hear The VentureFuel Podcast on Apple, Spotify or Messy.