District Ventures Accelerator announced that it is providing $ 3 million for early investment in 20 food, beverage and health startups in its accelerator.
These startups will receive cash investments of $ 130,000 in exchange for a minority stake. The minority’s share is determined on an individual basis. The five-month program aims to increase the brand’s share, distribution, sales and, ultimately, appraisals for startups.
The program will operate two groups of 10 companies each, the first will start in January 2018, and the second - in July 2018.
"I am extremely pleased with the growth and expansion of the District Ventures Accelerator as an ecosystem for entrepreneurs," said the Venture Fund co-founder. "These investments are based on our position as one of the best accelerator programs for early CPG enterprises in North America."
At the end of the program, participants will have the opportunity to transfer their ideas to venture investors for further financing. Dickinson believes that this new model will increase interest and demand among enterprises for this program.
Recently, we told about why venture investors often say "no."