A popular program for Wisconsin food and beverage businesses has opened its 2020-21 application period with a shift in an ongoing collaboration.
The FaBcap Accelerator and Scaler Series will be hosted by the Food Finance Institute (FFI), which has provided programmatic support since the accelerator’s launch in 2015 by FaB Wisconsin, a statewide, cross-industry food and beverage organization. The Scaler Series was incorporated in 2017 to open the accelerator’s support programming to a larger audience of industry entrepreneurs.
The accelerator, made possible with financial support from the Wisconsin Economic Development Corporation (WEDC), has steadily grown its reputation and impact on the Wisconsin economy. The “cap” part of FaBcap reflects the goal of building companies’ capacity and capital.
As of June 25, 2020, the program has graduated four classes with 10 businesses. These 40 Wisconsin-based food and beverage product, ingredient and technology companies have attracted $682,176 in grant funding, $7,356,127 in debt funding and $8,712,112 in equity funding, with their annual sales totaling $29,684,566.
“In a time of heightened economic uncertainty, this collaboration and the resources it leverages will amplify the growth of our scaling food and beverage companies throughout Wisconsin,” said Tera Johnson, FFI Director and Founder.
FFI will continue to deliver the FaBcap Accelerator and Scaler Series in conjunction with FaB and with continued WEDC support while leveraging resources through the University of Wisconsin System’s Institute for Business & Entrepreneurship, FFI’s home.
“We are excited to continue our efforts supporting the growth of early-stage food and beverage manufacturers,” said Aaron Hagar, WEDC Vice President of Entrepreneurship & Innovation. “The FaB team has built a great program, and this partnership with the UW System’s Food Finance Institute is the next phase of moving this important industry forward.”Read the full article at: https://foodfinanceinstitute.org/news/food-finance-institute-at-university-of-wisconsin-system-to-host-popular-fabcap-accelerator-and-scaler-series/