Food-X

Food-X is a New York based international business incubator company for food-based startup ventures. The company is a member of SOSV, an accelerator venture capital and investment management firm based in New Jersey, USA. The company’s focus is startups trying to solve global challenges relating to food as health, sustainability, safety, supply chain efficiency, and transparency. Companies selected for their cohort gain access to startup capital, mentors, and a network of experienced entrepreneurs. As of 2019, the company has run nine cohorts with 47 companies under its portfolio. Food-X was among the Fast Company’s top ten most innovative companies in food sector in 2015.

Program

The 14 weeks incubator program is for food startups in food tech, supply chain management, agriculture, packaged goods, or food as medicine. The application for the program is free and open to startup companies around the world. However, new companies require new ideas that do not compete with companies already under the Food-X portfolio. When selected, Food-X claims 8% of the company’s equity in exchange for funding, amenities and access to its growth network. Selected companies get up to $70,000 seed fund, co-working space in New York, mentorship with experienced food industry experts and entrepreneurs, and media exposure. Food-X will help members of the team re-locate to New York for the duration of the incubator.

Some of the prominent companies under Food-X portfolio include KOJO: a plant-based jerky, Bite: self-ordering kiosks for food-service, Voix AI: conversational commerce platform for restaurant ordering, and Moodbeli: easy-to-use and indulgent blends for wellness routines.

Other Programs

Food-X also ran podcasts centered on the food industry and innovation, which has not been updated since 2018.

History

Sean O'Sullivan and Shen Tong founded Food-X on June 1, 2014, as one of SOSV's start up accelerator programs. Food-X focuses on incubating food related start up companies. Their business accelerator program is located in New York City, New York, and runs 14-weeks from September to December.