Batch Ventures will combine equity funding with hands-on support from successful entrepreneurs and industry professionals for qualifying SMEs and start-ups.
The scheme is open to businesses that incorporate baking in their production process. This would include producers of traditional baked goods, such as breads, crackers and biscuits plus cookie dough, baking kit and baked snacks suppliers – with successful applicants judged on their future potential.
Commenting on the joint venture, Mission Ventures chief executive Paddy Willis said: “We are excited to be partnered with Warburtons, one of the top five food brands in the UK today. We see this as a smart way for the industry to build compelling challenger brands that deliver true innovation.
“This partnership leverages my team’s experience as exited food entrepreneurs and six years of running food and drink accelerator programmes, together with the depth of industry experience that comes from Warburtons.”
Brand owners interested in the scheme can visit the Batch Ventures website for more information, with the initial selection of businesses expected over the course of the summer.
Supporting the next generation
Warburtons head Jonathan Warburton added: “As a fifth-generation family business, we are proud to be backing British enterprise during these uncertain times and this programme allows us to support the next generation of innovative bakery-led brands.”
Mission Ventures’ partnership with Warburtons is the latest incubator launched by the group aimed at the food and drink industry. In March this year, it helped launch an accelerator for entrepreneurs targeting a reduction in childhood obesity, supported by a £1.8m funding pot.
Meanwhile, Start-up Pep & Lekker's Seed Snacks has joined the ranks of Sainsbury's Future Brands, with the supermarket chain announcing it would trial two flavours under the label in 70 stores from 9 June.