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Innovative Food Holdings Announces Launch of Food Focused Accelerator
Food Hatch(TM) Accelerator to meet the unique needs of food startups
By: PR Newswire
Nov. 27, 2012 10:00 AM
NAPLES, Fla., Nov. 27, 2012 /PRNewswire/ -- Innovative Food Holdings, Inc., (OTCQB: IVFH) a company operating in the gourmet food space through its ownership of a growing number of independent, wholly-owned subsidiaries and brands, announced today that it has formally launched Food Hatch(TM), the first food focused investment accelerator. Food Hatch is designed to leverage the combination of the unique food related expertise, distribution and relationships of Innovative Food Holdings with some of the most experienced and knowledgeable senior executives and entrepreneurs in the food industry. As the first investment accelerator program focused solely on food related companies, Food Hatch will help to address the unmet and distinctive needs of food related start-up companies.
Companies that are accepted into the Food Hatch Accelerator program will receive intensive guidance and assistance from a team of high level food industry mentors. The Food Hatch Mentor Team and Food Hatch partners will provide operational guidance and support in many food related areas including food marketing, legal, food sales and distribution, as well as any additional support related to growing a startup food business. Food Hatch will also invest a small amount of capital into each accepted company. In exchange, Food Hatch will receive a small equity position of each company.
"An important factor for our success at Innovative Food Holdings has been our ability to effectively work with hundreds of food entrepreneurs over the last 10 years on the launch and sales of some of the most unique and highest quality artisanal gourmet products and solutions available. As a result, we believe that we are well positioned to understand the distinctive challenges that food related startup companies face. This includes a lack of access to seed capital as well as a lack of expertise and relationships during the crucial initial stages of their business," commented Sam Klepfish, Chief Executive Officer of Innovative Food Holdings. Mr. Klepfish continued, "We are excited about the launch of Food Hatch and we look forward to becoming a valuable partner to aspiring food entrepreneurs nationwide as we work together and grow their gourmet food related businesses."
Justin Wiernasz, President of Innovative Food Holdings, noted, "As we began the process of building and launching Food Hatch, it became apparent from speaking with our current suppliers, entrepreneurs and new potential manufacturers that there is a real need for this type of solution in the gourmet food industry. The feedback and interest we've received from senior food executives since we commenced Food Hatch has been extremely positive and the level of excitement regarding the concept has been truly phenomenal. We will continue to add additional mentors to the Food Hatch Mentor Team as we continue to grow. In addition, we have already begun the process of taking applications for our Food Hatch Accelerator program, and we are eager to work with these innovators going forward."
About Food Hatch(TM)
Food Hatch(TM) is the first food focused investment accelerator. The Food Hatch(TM) program is available to food product companies, foodtech and any food related company that can benefit from Food Hatch's food related relationships and expertise. Food Hatch(TM) provides its portfolio companies with both investment capital and a board spectrum of food related expertise from some of the most experienced and knowledgeable senior executives and successful entrepreneurs in the food industry. In addition, Food Hatch(TM) is able to leverage its relationship with its parent company and other subsidiaries to further the growth of the portfolio companies it works with. For more information, please visit www.foodhatch.co.
About Innovative Food Holdings
Innovative Food Holdings, Inc., ("IVFH") is a unique holding company operating in the gourmet food space by owning a growing number of independent, wholly-owned subsidiaries and brands. The subsidiaries utilize IVFH's proprietary technology platform and existing relationships to distribute gourmet foods to restaurants, chefs and many others who utilize these niche products. IVFH's subsidiaries combine to offer over 5,800 unique products to over 30,000 various end users. The Company's current portfolio includes Food Innovations, For The Gourmet, Gourmet Food Service Group, Artisan Specialty Foods, and most recently, Food Hatch(TM). IVFH is also developing selected lines of private label products within the premium gourmet space, the first of which is the Artistre® brand line of Molecular Gastronomy products.
This release contains certain forward-looking statements and information relating to Innovative Food Holdings, Inc. (the "Company") that are based on the current beliefs of the Company's management, as well as assumptions made by, and information currently available to, the Company. Such statements reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as "should," "could," "anticipate," "believe," "intend," "plan," "might," "potentially" or "expect." The Company does not intend to update these forward-looking statements.
SOURCE Innovative Food Holdings, Inc.
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