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Sharda Launchpad Federation, the business incubator and accelerator arm of Sharda University, has announced a strategic partnership with FigFax, also known as SnackFax, to launch the Sharda Global Food and Beverages Accelerator.
By providing much-needed support to startups in India’s rapidly evolving food and beverage sector, the program intends to mentor and fast-track over 50 promising food brands.
The Sharda Global Food and Beverages Accelerator is the first of its kind in India, targeting a wide range of businesses, including those in food processing, dairy and mechanization, quick-service restaurants (QSR), dining establishments, poultry, logistics, warehousing, infrastructure and mechanization, packaging, and beverages, among others.
With a highly competitive selection process, only 20 startups will advance to the next round in the inaugural cohort, emphasizing the program’s commitment to quality and innovation.
“As part of the partnership between Sharda University and FigFax, Sharda Launchpad, the university’s food incubator, is dedicated to nurturing entrepreneurship and innovation in the food industry.”
In addition to financial support and mentorship, the collaboration will offer customized acceleration programs tailored to the specific needs of food businesses in North India.
The program will give startups the tools and knowledge they need for successful scaling, providing information on product development, marketing strategies, and financial management, among other subjects.
Speaking on the partnership, the Vice Chancellor of Sharda University, said, “Sharda Launchpad, in collaboration with FigFax, embodies Sharda University’s unwavering commitment to fostering entrepreneurship in North India’s food industry. We envision it as a beacon of hope for aspiring food entrepreneurs, offering them the tools, mentorship, and funding needed to thrive in this vibrant sector.”
“With a shared commitment to innovation and growth, we believe that Sharda Launchpad will be a perfect recipe for startup success as well as economic development in the region, creating a lasting impact on the food business landscape,” VC added.
Commenting on the partnership, Ashu Agrawal, Founder and CEO of FigFax said, “In the world of entrepreneurship, the challenge for budding foodpreneurs has always been accessing the right resources and mentorship to turn their dreams into reality.”
“Our tie-up with Sharda University aims to address this gap head-on. For entrepreneurs, this collaboration is fantastic news as it offers them a golden opportunity to spice up their businesses and lead a revolution in the food industry. We extend a warm invitation to all aspiring food business owners to join us on this exciting journey,” he further added.
The program will provide financial support, access to seasoned mentors, and personalized acceleration programs tailored to address the unique challenges faced by food businesses in North India.