The launched of the digital innovation accelerator program, Simplot Ignite, announced on Wednesday, is aimed at startups kin Australia’s food tech space.

Simplot Australia Managing Director Terry O’Brien says the program is now open to applicants who are looking to turn their innovative food tech idea into a profitable business.

As part of the three-month program, each of the selected startups will receive $30,000 investment in exchange for 10% equity and have the opportunity to work with Simplot Australia, which is home to many of the country’s food brands including John West, Bird's Eye, Leggo's, Edgell, Lean Cuisine and Chiko.

Participating startups will also receive a 12-week tailored mentoring program including business training and development, marketing, infrastructure support, legal and financial advice and have the opportunity to pitch their idea to investors, media, other companies in the food tech space and the startup ecosystem during the program’s Demo Day.

The participants will also have the opportunity for second-round investment of up to $100,000 from the Slingshot Venture Fund.

Applications for Simplot Ignite must focus on one of the key themes including nutri-genomics and personalised nutrition, customer acquisition and retention, food solutions for healthy ageing, agribusiness or convenience in food.

O’Brien says Simplot got a taste of the calibre of Australia’s digital innovation scene as a sponsor of HackFood, Australia’s first food tech hackathon, held earlier in November at Fishburners Sydney.

“We want to bring some fresh thinking to Australia’s food system and work with entrepreneurs who are passionate about improving it. HackFood marked the first time innovators came together to tackle the challenges faced by the food industry and with the food market valued in the trillions, we know there is so much more Australian startups can bring to the table if given the right opportunities.”

In addition to the startup accelerator program, Simplot Ignite also includes a Scaleup Program with the goal of providing established startups an opportunity to bring their products and services to the nationwide Simplot Australia market.

Under the program, startups will be able to work with existing customers and access services provided by Simplot’s strategic partners and sponsors.
 
Slingshot co-founder Craig Lambert says Simplot Ignite is an example of how major corporations can leverage the agility of disruptive startups to generate new ideas and grow their business.

“Simplot Ignite is an effective, low-risk platform to stimulate creativity, improve productivity and develop game-changing technology for the wider food industry. By pushing the limits of digital innovation, Simplot and the program’s startups can have a direct impact on a market that is ripe for disruption.”