What is an Accelerator?
An accelerator is an intensive business education program designed to help nascent companies to grow quickly and reach their full potential. Most accelerators feature a network of reputable and accomplished mentors to help companies on various focus areas. Some accelerators offer co-working office space, and access to angel and venture-capital investment. Often accelerators will ask for a small amount of equity in exchange for admission to the program, while others will ask for a cash fee.
What type of companies does Savour work with?
Savour works with early stage food-related companies in the “product-market fit” stage (ie. there is a good market with a product/service that can satisfy that market). We focus on companies that affect positive change and disruption in the food system. Companies from any part of the food supply chain are considered, including but not limited to farming, ag-tech, food distribution, retail, wellness, consumer packaged goods, food-related apps, and green/clean tech.
How much funding do Savour companies receive?
We provide the following funding in exchange for 15%-20% equity:
- $15,000 on commencement of the program in Kuwait
- Up to $35,000 in convertible note loan at the end of the program
- We cover the $50,000 cost of the program.