The FaBcap agribusiness accelerator is now a national program

MobCraft is one of many food or beverage companies to have completed the FaBcap Accelerator program.

from Wisconsin FaBcap Accelerator Program expanded nationwide and now serves six times as many businesses in the United States

Instead of serving the usual group of 10 companies, FaBcap will now help 60 companies in the food and beverage industries. Four cohorts of 15 will be grouped by specialty: two for food/beverage businesses, one for value-added agriculture, and one for processing/support technology businesses. The FaBcap Accelerator is offered in collaboration with the Food Finance Institute (FFI) and funded by the Wisconsin Economic Development Corp. (WEDC).

“With our new model, in one year we will reach more businesses than in the past five years combined,” said Sarah Larson, Acting Director of FFI. “It means more companies are ready to excel, raise funds and contribute to their local economies and communities. This is testament to the expertise and training we have developed at FFI over the past eight years.

The FaBcap program is intended to help businesses in the food and beverage sector build their “capacity and capitalization” by providing one-on-one financial coaching, investor access, and group meetings and seminars. Past participants include MobCraft Beer, City Lights Brewing Co., Funky Fresh Spring Rolls, Milwaukee Pretzel Company, Forage Kombucha, Agricycle and more. FaBcap launched its first cohort in 2015.

The first of four cohorts of the newly expanded program began this month. Companies understand The pink bakery from Milwaukee; Pete’s Pops from Milwaukee; Confectionery Crumbles from Milwaukee; Aunt Ethel’s pies from Brooklyn, New York; Banzo of Madison; Bonnie’s Balls, LLC of Madison; DARI LLC, dba MOO’V of Clinton, Wis.; Doudlah Farms Organic of Evansville, Wis.; drinking buds of Sheboygan; Greek Treasures LLC dba Helios Kitchens of Williams Bay, Wisconsin; Garlic Keene of Madison; Kul Beverages, LLC dba KUL MOCKS of River Falls, Wis.; Mama Bev’s Bakery, LLC of Hales Corner, Wis.; Oaterra of Larkspur, California; and SAE Unlimited, LLC of Burlington, Wis.

Since June 2021, the FaBcap Accelerator program has graduated five promotions from 10 companies each year. These 50 Wisconsin-based food and beverage, ingredient and technology companies attracted $864,250 in grants; $7,579,781 in debt financing; and $9,935,024 in equity financing, with annual sales totaling $36,772,563.

“The food and beverage industry continues to be poised for growth – really, it’s the trend of trends. The impact I’ve seen on food businesses in Wisconsin has been staggering,” said program director Brad Rostowfske.

The Acceleration Program begins with a modified version of FFI’s Fundamental Money Management Boot Camp. Then it moves on to weekly programming, which includes coaching calls and cohort meetings.

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