FaB Wisconsin, the state’s food and beverage industry cluster, is now accepting applications for its second FaBcap Accelerator class, which helps companies in the food and beverage industry increase their capacity.
FaB is accepting applications through Aug. 16. The accelerator is open to independent or privately-owned, Wisconsin-based food, beverage, ingredients, packaging, equipment manufacturing and industry technology companies who make or provide an industry-leading product, service or technology. The companies must have two or more full-time employees and more than $50,000 in revenue.
“After a successful first class, we’re excited to give another round of companies a full year of one-on-one coaching and support to improve their capacity for growth,” said Shelley Jurewicz, executive director of FaB Wisconsin.
The first Fabcap class included City Lights Brewing, East Shore Specialty Foods, Clock Shadow Creamery, Gorilly Goods, MobCraft Beer, Nikki’s Cookies, Noble View Cheese, Quigistics, Top Note Tonic and Valentine Coffee. Gorilly Goods was able to use what it learned to be partially acquired by Nature’s Path, the largest organic cereal maker in North America. And City Lights, MobCraft and Valentine all have opened new facilities.
FaB will announce the 10 participants in the second FaBcap class on Aug. 25. The accelerator provides one-on-one business coaching with Brad Rostowfske, director of industry growth at FaB, finance coaching with Tera Johnson, director of the Food Finance Institute, four facilitate cohort roundtable meetings, an opportunity to pitch to investors and a $10,000 cash award upon completion.
“We’ve made some improvements to our year-long accelerator program to better benefit the selected companies,” said Brad Rostowfske, FaB’s Director of Industry Growth. “Class two will include company mentors and will see increased interaction with program sponsors offering technical and business expertise.”
FaBcap is funded by the Wisconsin Economic Development Corp., J.P. Morgan Chase Foundation and corporate sponsors.
