A number of brands set to undergo a 14-week course led by mentors.
SKU, a consumer products accelerator, has selected seven participants for Track 5. These Consumer Product Goods (CPG) companies, ranging from soul-food inspired flavored popcorn to an Austin, Texas-inspired boot and flip flop brand, are participating in a 14-week course that is much like an “MBA” on their own businesses. SKU’s program is led by an elite group of mentors, from over 25 industries, who help to take these companies to the next level.
Companies selected to participate in the 12-week program receive dedicated mentorship from notable industry experts and entrepreneurs, including Clayton Christopher, founder of Deep Eddy Vodka and Sweet Leaf Tea, and Stubb’s BBQ co-founder, Doreen Lorenzo, former president of frog design and Rhythm Superfoods founder Scott Jensen. Mentors provide structured classes and breakout sessions on a comprehensive range of topics relevant to helping companies achieve success through rapid yet sustainable growth. Additionally, each founder that participates in the program receives a cash stipend to offset any expenses, aiding them to attend the program.
“What hopeful CPG companies quickly discover is that in order to grow a successful company and brand, you need more than just a viable product or money,” said Scott Jensen. “SKU educates and equips the next generation of innovative CPG companies to become household brands by surrounding stellar startups with a wraparound infrastructure of seasoned entrepreneurial mentors, customized educational content, advanced operations support, access to industry expertise and strategic funding.”
The list of Track 5 participants includes:
- Karma Nuts: Flavored Cashews Full of Nutrition, based in the San Francisco Bay Area
- Real Good Gum: 5 Ingredient Gunk-Free Gum, based in Austin, Texas
- Shade Tree Lemonade: Organic Lemonades to Energize and Refresh, based in Austin, Texas
- Rickshaw: Austin Inspired Boot and Flip Flop brand, based in Austin, Texas
- El Norteño: Authentic Mexican Meat Snacks, based in Madison, Wis.
- Cocina 54: Organic, Gluten-Free, Oven Baked Empanadas, based in Austin, Texas
- Soul Popped: Gourmet, Soul-Food Inspired Popcorn, based in Austin, Texas
Founded in 2011 by Shari Wynne Ressler, SKU’s mission is to accelerate innovation and entrepreneur success by coalescing CPG communities around the globe. In 2016, the annual revenue of SKU alumni companies will top more than $110 million and the average follow on raise per alumni company is over $2 million. Since launching the first track in January 2012, SKU has had four tracks with 23 companies participating, including Austin Eastciders, Epic Bar, Raven + Lily, Verb, Good Seed Burgers, Seaweed Bath Co., World Peas and more. In total, SKU has sold in 20,000 Store Doors and has had nine million units sold in 25 aisles.
“What truly sets SKU apart is the community we’ve built and continue to cultivate” said Shari Wynne Ressler. “SKU’s unique model is funded by deeply engaged mentors and our corporate partners. SKU has the proven ability to create an ecosystem that drives entrepreneur success, innovation, forge community and diversify economies. We’re proud to say that 96% of the companies who have participated in our past tracks are all still in business today.”
SKU recently announced a Track 5 sponsorship from Land O’Lakes Inc. This is the first national sponsorship of its kind for Austin-based SKU and supports both companies’ missions: Encouraging food innovation through the development and success of food entrepreneurs in the CPG space.
“Land O’Lakes, Inc. was founded on innovation by the original entrepreneurs—farmers. And for the last 96 years, we’ve continued to bring innovation to the marketplace,” said Raquel Melo, vice president of innovation and new business development at Land O’Lakes Inc. “The food landscape and consumers’ tastes continue to change, and our partnership with SKU gives us a unique opportunity to support food innovation and be energized by the work of today’s food entrepreneurs.” With this partnership, Land O’Lakes will be able to keep a pulse on what’s next in the CPG food arena with a tried-and-true accelerator program that’s unmatched in its success in the CPG market.
On June 20, 2017, SKU will host a special Showcase event to introduce their track companies to select investors, partners, and media. SKU Showcase is like a demo day, only more delightful and delicious.