Land O’Lakes Launches Dairy Accelerator Program
Land O’Lakes began accepting applications last week for a three-month accelerator program targeting dairy entrepreneurs.
The Arden Hills-based food cooperative plans to mentor selected participants on all things finance, brand building, manufacturing, sales, distribution and leadership management. Depending on the business, the company will also offer up experts in supply chain, marketing, business development and leadership development.
To take part, applicants must be from the U.S. and have at least $200,000 in annual sales of a dairy product or service involving yogurt, cheese, whey or other milk-based proteins or ingredients. However, butter is off the table, Land O’Lakes said.
The culmination of the September-to-December dairy industry boot camp will involve a pitch meeting to Land O’Lakes’ leadership team.
Unlike some accelerators, participants will not have to give equity to Land O’Lakes to take part in the program. Participants will receive a $25,000 stipend to cover travel costs.
The application process runs through July 8. Those who are accepted into the program will be notified in early August.
This isn’t Land O’Lakes’ first foray into business accelerators. Last year, it took part in the Thrive accelerator, an investment and mentoring program geared toward tech-enabled agricultural startups.