Kroger to invest in upcycled food startups

Kroger plans to invest $ 2.5 million in group grants through the Zero Hunger / Zero Waste Foundation to support startups that produce, process, or distribute consumer food in new ways.

Kroger to invest in upcycled food startups

Retailers call recycled food the “next area” and invite applicants to submit proposals to promote a business model that requires buying surplus food or food by-products and turning them into new products for consumers. Successful applicants will receive $ 100,000 in seed funding. The selected companies will then participate in a hypothetical seminar that focuses on investment preparation, technology development and reaching and orienting investors in and out of the food system, Kruger said.

The innovator is also eligible for an additional grant of $ 100,000 based on the plan’s established milestones. At the end of the six-month development phase, two start-ups will be selected for an additional $ 250,000 in funding.

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“The Kruger Zero Hunger / Zero Waste Foundation is committed to helping create a more efficient, resilient and charitable diet in the United States and other regions,” said Dennis Ostruis, president of the Kruger Corporation. Don’t roar. ”After the COVID-19 pandemic and its economic impact, we are more determined than ever to allocate as much food as possible to achieve our ultimate goal of feeding people. food system. situation of excess waste. ”

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