Battle Creek Unlimited Inc

SWMI ACCELERATOR KITCHEN

THIS EDA INVESTMENT FUNDS THE FUTURE FOOD ACCELERATOR PROJECT, TO FUND A VIRTUAL ACCELERATOR THAT WOULD LINK LEADING EDGE R&D FACILITIES, UNIVERSITY TECHNOLOGY INNOVATION PROGRAMS, ENTREPRENEURSHIP SUPPORT PROGRAMS, INDUSTRY/MARKET EXPERTS, AND DOMAIN EXPERTS TO SUPPORT HIGH-GROWTH, HIGH-POTENTIAL FOOD AND BEVERAGE COMPANIES LOCATED IN OR RELOCATING TO SOUTHCENTRAL MICHIGAN. THE FUTURE FOOD ACCELERATOR IS DESIGNED TO SERVE AS AN EFFICIENT CONDUIT FOR THE DEVELOPMENT, ACCELERATION, TRANSFER, AND TRANSITION OF TECHNOLOGY IN THE FOOD INNOVATION ECOSYSTEM. A TEAM OF QUALIFIED TECHNICAL ASSISTANT PROVIDERS WILL PROVIDE ASSESSMENT TOOLS AND DELIVER WORKSHOPS AND WEBINARS. IN ADDITION, BATTLE CREEK UNLIMITED WILL UTILIZE STAGE-GATE MODELS OF NEW PRODUCT DEVELOPMENT AND PROVIDE INNOVATION MANAGEMENT TOOLS, THEREBY INFORMING INVESTMENT DECISIONS AS COMPANIES PROGRESS AND SEEK ADDITIONAL FUNDING. ONCE COMPLETED, THE BATTLE CREEK UNLIMITED INTENDS TO: GENERATE AT LEAST $3.5M IN AGGREGATE FUNDING FOR A MINIMUM OF 15 COMPANIES OVER THREE YEARS; ACHIEVE TEN COMMERCIAL DEVELOPMENT MILESTONES FOR PROGRAM PARTICIPANTS; ACHIEVE TEN PRODUCT DEVELOPMENT MILESTONES FOR PROGRAM PARTICIPANTS; ASSIST IN THE CREATION OF 5 NEW PRODUCTS AND SERVICES FOR PROGRAM PARTICIPANTS; ASSIST IN THE CREATION OF 150 KNOWLEDGE ECONOMY JOBS FOR THE REGION.

THIS EDA INVESTMENT FUNDS THE FOOD AND BEVERAGE INVESTORS NETWORK PROJECT, TO HELP INCREASE THE CAPACITY OF NEXT-GENERATION BATTLE CREEK FOOD REIMAGINED INVESTORS (NEXT-GEN BCFRI) TO VET, VALIDATE, AND MAKE CRITICAL SEED AND ANGEL INVESTMENTS IN COMPELLING WESTERN MICHIGAN INNOVATION-BASED, EARLY STAGE, HIGH-GROWTH FOOD MANUFACTURING COMPANIES. THE PROJECT WORK WILL: (1) RECRUIT AND TRAIN NEW ANGEL INVESTORS; (2) PROVIDE A PATH INTO PRE-SEED, AND SEED FUND INVESTMENT FOR TRAINED INDIVIDUALS FROM DIVERSE BACKGROUNDS; (3) INCREASE THE POOL OF TRAINED ANGEL INVESTORS FOR SEED FUNDS REGIONALLY; (4) INCREASE ACCESS TO CAPITAL FOR TECHNOLOGY-ENABLED FOOD PROCESSING ENTREPRENEURS IN THE MIDWEST REGION BY EXPOSING NEW FUNDS AND FUND MANAGERS TO REGIONAL INVESTMENT OPPORTUNITIES; AND (5) USE EXISTING TRAINING SOURCES AND THE STATEWIDE CAPITAL NETWORK FOR LEVERAGE. ONCE COMPLETED, THE PROJECT WILL: (1) DEVELOP A TRAINING PROGRAM AND INVESTMENT NETWORK OF INVESTORS TO ADDRESS THE CAPITAL GAPS THROUGH EDUCATION; (2) INCREASE THE DIVERSITY OF ANGEL INVESTORS AND (3) DIVERSIFY ACCESS TO CAPITAL THROUGH THE CREATION OF NEW FUNDS.