The Mexican corporation Bimbo has launched a call for startups to join its open innovation platform. This program, called Open Door, focuses on the biscuit and bar segment, offering entrepreneurs the opportunity to partake in an exploration, training, and collaboration experience with the prestigious bakery.
The startups selected to be part of Open Door will receive a series of key benefits. These include mentorship provided by leaders and managers of Grupo Bimbo, access to the company’s global infrastructure, and the possibility of implementing a pilot project to be presented to the company’s executives.
Open Door had its first edition in 2022, focused on startups in the bakery and snacks sector. In this edition, 11 startups from 7 countries successfully participated, including Mexico, Peru, Colombia, the United States, the United Kingdom, and Singapore.
The initiative focuses on specific verticals within the biscuits and bars sector, allowing startups to present innovative solutions that fit these categories. The categories that Bimbo seeks to address are:
- For kids: innovation is oriented toward cutting-edge ingredients, advanced production technologies, and interactive packaging. The goal is to combine fun and well-being in products aimed at children.
- Permissive Indulgence: Here, innovation focuses on unique ingredients and innovative production processes that preserve the authentic taste of cookies and bars while offering indulgent options.
- Artisanality: innovation focuses on culinary techniques and creative presentations that aim to maintain the products’ homemade essence and familiar taste.
The program culminates with a presentation of collaboration proposals before a forum comprised of the company’s senior executives. This allows startups to establish key industry relationships and explore concrete collaboration opportunities with Bimbo.
According to a study published by the Economic and Commercial Office of Spain in Mexico City, the agri-food sector in Mexico is mature and large, ranking eleventh in the world and accounting for 7% of the country’s GDP. Indeed, Mexico is likely the destination in Latin America that offers the most opportunities and advantages for generating investment and entrepreneurship projects in the foodtech sector, according to the same market study.
On the other hand, a 2022 report from Endeavor and Pepsico reveals that the sector has seen a dramatic increase in investment over the last decade, totaling USD $1.7 billion in 206 funding rounds. Notably, 2020 and 2021 represent 64% of all the capital invested in the sector since 2011.