Wisconsin’s food and beverage association is getting $125,000 from WEDC for the second round of its accelerator program.
FaB Wisconsin’s first accelerator cohort of 10 companies is graduating next month, and the second round of the FaBcap accelerator will have support from WEDC and JP Morgan Chase. The accelerator, which is partnered with UW-Extension’s Food Finance Institute, will also have more sponsors in the industry that the startups can get advice from.
FaB Wisconsin will begin taking applicants in November, with the second round of the program kicking off in February.
The association says the first class of companies raised 42 percent more funds while in the program, saw revenue increases of 290 percent and opened three new locations. Those participants include City Lights Brewing, MobCraft Beer Clock Shadow Creamery and Noble View Cheese.
WEDC Secretary and CEO Mark Hogan said after seeing the results of the first cohort, there was “no question we would continue our support for a program that will help strengthen this key sector.”
See a recent WisBusiness.com story on FaB Wisconsin and its accelerator: