FIT Food Tech 

The Foundation for Innovation and Technology (FIT), in association with Nestlé, has launched a new programme for start-ups called FIT Food Tech. The aim is to foster collaboration and investment between food-industry and early-stage tech start-ups in the local innovation ecosystem.

As part of the programme, the FIT will allocate loans of CHF 100’000 to start-ups in Western Switzerland that have an innovative, sustainable and scalable business idea. Corporates participating to the FIT Food Tech have the option to invest in the start-ups. Nestlé is the founding partner of the programme, and more companies will likely join in the near future.

To apply for FIT support, register via Innovaud (the innovation and investment promotion agency for the canton of Vaud), which is responsible for the pre-selection of candidates:

THE SWISS FOOD & NUTRITION VALLEY

The FIT Food Tech sits at the heart of the Swiss Food and Nutrition Valley, a global innovation ecosystem aiming to attract talent, start-ups and investment to the Léman Lake region and Switzerland, with the objective of creating innovations linked to the future of food. It is a consortium comprising the Canton of Vaud, top-class universities (such as Swiss Federal Institute of Technology (EPFL) and the Swiss Hospitality Management School (EHL), both in Lausanne), multinationals such as Nestlé, Givaudan and Firmenich and over 80 foodtech start-ups.

Learn more about the Swiss Food & Nutrition Valley

INNOVATION AT NESTLÉ

Nestlé is committed to developing innovative products and services that provide nutrition and health for people and pets everywhere, across all their life stages. Whether the focus is on developing new delicious plant-based foods that support healthier, more sustainable diets, solutions to tackle packaging waste, affordable nutrition for all, or personalized nutrition, Nestlé is constantly improving products and services and creating new ones.

Nestlé has one of the most advanced science and innovation network in the food industry and invests CHF 1.7bn every year in R&D as an engine for growth. Several initiatives are ongoing at Nestlé that aim at further accelerating their innovation capabilities by working with researchers from top class universities and research institutes, start-ups and innovation partners whilst leveraging their strong internal innovation capabilities.

Learn more

FIT FOOD TECH for start-ups

 

A unique setup to meet, get introduced to and partner with global corporate leaders in the food industry

 

The opportunity to develop and test products in collaboration with global corporate leaders in the food industry

 

A strategic edge on understanding safety and regulatory issues

A CHF 100’000.- loan at 0% interest rate

The opportunity to discuss an early strategic investment into the start-up

Accelerated market entry growth and international coverage

PRE-REQUISITES

Specialisation: FoodTech or Nutrition and in particular
– Plant-based food & beverages
– Personalized nutrition
– Affordable nutrition
– Sustainable packaging

Innovation: ability to demonstrate that the project is innovative, sustainable and scalable

Team: at least 2 full-time employees (FTE)

Stage: seed start-ups with minimum viable product

Localisation: Western Switzerland

 

 

What is the process?

1. Application via the online form

a) The start-up is informed of the option model
b) The application is examined

2. Assignment of a FIT coach (+1 week)

The coach reviews the FIT Food Tech requirements with the start-up

3. Tech Seed coordination meeting to review applications (+1 month)

3 possibilities :
a) Invitation to pitch for the Food Tech
b) Redirection to the FIT Tech Seed
c) Application rejected or postponed

4. Invitation to pitch to the Selection Committee (+1 week)

5. Signature of the contracts 

a) Signature of the loan agreement with FIT and release of CHF 100,000
b) Negotiation and signing of the option contract with Nestlé

6. Release of funds

After getting the loan

During the joint project and for 6 months after its completion
Nestlé can
a) negotiate in good faith with the company an agreement for further development or for commercialization of the project
b) match within 90 days the terms of any other arrangement or proposal the company receives from a third party
During 10 years: duration of the warrant
Nestlé can acquire up to 10% of the startup’s share capital on a fully-diluted basis

To apply for FIT support, register via Innovaud (the innovation and investment promotion agency for the canton of Vaud), which is responsible for the pre-selection of candidates: