Female scholarships make a splash this spring15 May 2020
Historically, females are underrepresented in the Consumer Packaged Goods and aquaculture industries - two areas where investment and growth is gaining steady momentum. To remedy that gap in representation, several companies are working to provide females with access to experiences and resources through grant and scholarship programs.
Kvarøy Arctic has paired up with the James Beard Foundation to offer a $10,000 “Women in Aquaculture” scholarship for those studying the subject at a college or university in any country. The scholarship also includes a paid one-month summer internship on the Kvarøy Arctic farm site in Norway. And Stacy’s Snacks has renewed its Stacy’s Rise Project for another year. The Rise Project is a grant and mentorship program that offers 15 female founders a $10,000 grant, branding design mentorship and access to Frito-Lay as well as PepsiCo leaders for guidance in sales, supply, marketing and R&D.
The lack of female leadership at large CPG companies has been a thorn in the side of the industry for years. Although there are notable examples of female leadership over the years - Indra Nooyi at PepsiCo and Michele Buck at The Hershey Company - the majority of the CPG giants are male-led. However, at smaller companies there is far more female leadership. Since 2007, the number of women-led businesses in the U.S. has increased by 58%, a 2018 American Express report found. But even while the numbers of entities that are female-led has grown, the dollars invested in these enterprises have not increased proportionally.
Data from Pitchbook showed that in 2017, only 2.2% of venture capital funding went to female-founded businesses. And the figures have not improved dramatically since then. “In 2019, female founders received only 2.8% of venture capitalist funding – which means that as small businesses struggle in the current environment, women-owned companies need more support than ever before,” said Ciara Dilley, Frito-Lay’s Vice President of Marketing in a release.
Data for aquaculture is not much better. The World Wildlife Foundation reported that while women make up 85% of the workforce in aquaculture, it is “rare” for them to be in top management positions. Instead, they occupy jobs such as gutting, filling cans or other processing tasks. By providing funds for an education and first-hand experience learning how to run a family farm, Kvarøy Arctic hopes to change that.
Until June 11 students can submit their applications for the aquaculture scholarship via the James Beard Foundation website. Scholarship winners will be notified in August 2020.
Female entrepreneurs looking for a leg up in their businesses can submit an application for the Stacy’s Rise Project until May 29 on the company’s website. The 15 finalists will be announced in July.
HN-Novatech launches seaweed heme ingredient in Singapore
28 Sep 2023
Korean food technology company HN-Novatech secures $4 million in funding and has unveiled a proprietary seaweed heme ingredient for healthy plant-based alternatives in Singapore.Read more
Proudly made in China: Tips to tap into the guochao trend with success
19 Sep 2023
Thanks to the guochao trend, Chinese consumers see ‘Made in China’ products as trendy and Western brands are capitalising on this with regional flavours or Chinese-style branding. But guochao has become more nuanced and consumers are increasingly wise ...Read more
Healthy and humane: Noochies launches pet food that is factory farming-free
15 Sep 2023
US pet food brand Noochies uses nutritional yeast to make its meat-free, healthy dog food and freeze-dried snacks for cats and dogs – a humane pet food range that is free from factory farming meat, it says.Read more
Industry first: Mosa Meat becomes first cultivated meat startup to gain B Corp certification
11 Sep 2023
A first for the industry, Dutch cultivated meat company Mosa Meat announced that it has received B Corp certification and will soon apply for regulatory approval across the globe.Read more
Premium dairy launches defy cost-of-living crisis
6 Sep 2023
From Häagen-Dazs’ Cultured Crème yoghurt to Boursin’s black truffle and sea salt cream cheese, some recent premium dairy product launches suggest there is still appetite for gourmet products despite the cost-of-living crisis.Read more
Breakthrough buckwheat brands promote brain health claims
25 Aug 2023
As buckwheat emerges as a superfood ingredient on the plant-based scene, attention is turning to its brain health claims and the research behind buckwheat’s ability to enhance cognitive function.Read more
European Court of Justice to weigh in on French plant-based name ban
23 Aug 2023
France’s Conseil d’Etat has asked the European Court of Justice’s (ECJ) to provide clarification on whether the upcoming French law to ban the use of 'meaty' terms for plant-based foods is valid. “This is a pivotal moment, not just for France, but for ...Read more
Unilever reduces plastic in Pot Noodle packaging
21 Aug 2023
Unilever is trialling new packaging for its Pot Noodle brand in the UK that is 90% paper and will reduce the use of virgin plastic, it says.Read more
Familiarity over foodtech: Is this the end of disruptive product development?
14 Aug 2023
Consumers are opting for traditional product purchases over disruptive, novel launches amid growing inflation, according to a Rabobank report.Read more
Well-known brands win over US consumers with unique and nostalgic flavours
7 Aug 2023
Consumers in the US are increasingly being drawn to unique and nostalgic flavours, introduced by leading national brands like Oreo and Jell-O, says Mintel.Read more