Maryland Innovation Lab Opens Startup Applications for Pioneering Food Sector Corporate Accelerator
Accelerator Themes Selected by Inaugural Company Sponsors – Pompeian Olive Oil, Sodexo US, and SIMPLi
BALTIMORE, Maryland, United States — December 6, 2023 – The Maryland Innovation Lab has officially announced the opening of startup applications for its new corporate innovation accelerator, the first-of-its-kind in the United States, designed to position Maryland companies as leaders in corporate innovation and attract global investment to the state.
This pioneering program will catalyze corporate innovation by matching Maryland-based businesses with a global array of startups, fostering solutions to tackle pressing industry challenges in the food sector.
Three leading Maryland-based food sector companies were announced as sponsors of the Lab at the World Trade Center Institute’s Global Innovation Summit in October — Pompeian Olive Oil, Sodexo US, and SIMPLi. The participating startups in this inaugural Maryland Innovation Lab will benefit from the mentorship of these three businesses, each noted for their commitment to innovation and sustainability.
The program structure is tailored for intensive collaboration and development, starting with a boot camp and competitive pitch day to be held in Baltimore, Maryland on April 3-4. At this event, between 15-20 startups from around the world will pitch their solutions to sponsoring companies for the chance to form a lasting partnership. Beginning in May, approximately five winning startups will proceed to a 10-week mentorship-driven accelerator, culminating in a demo day where startups and corporate partners celebrate their joint innovations.
Sponsor companies are seeking solutions in the following critical areas:
- People & Workforce: Innovations that leverage workforce insights, improve employee experience, and harness skilled labor.
- Sustainability: Technologies setting new standards for agriculture, tracking and commercializing carbon offsets, and educating on sustainable practices.
- Retail and Product Optimization: Cutting-edge solutions for understanding and tracking consumer behavior, optimizing retail and product experiences, and enhancing brand experiences.
- Optimizing Supply Chain & Distribution Processes: systems that optimize supply chains and distribution processes, promote transparency and traceability, and support sustainable shipping and transportation.
- Wildcard: An open call for transformative solutions in any area that can revolutionize the Maryland food sector, particularly those that support sustainable practices, address greenwashing and foster a resilient local food ecosystem.
The Maryland Innovation Lab is a result of a strategic public-private partnership under the State of Maryland’s Global Gateway Program, involving the Maryland Department of Commerce, the World Trade Center Institute, and L Marks, a renowned UK corporate innovation specialist. This collaboration addresses the need for agile, cross-collaborative innovation within sectors and corporations often hampered by traditional processes.
“When talented people come together to solve big problems, great things can happen. The Maryland Innovation Lab will help us address pressing challenges by connecting companies in our state with companies around the world willing to share their expertise” said Governor Wes Moore. “L Marks and the World Trade Center Institute know the power of partnership, and their contributions to this initiative will keep Maryland’s economy competitive and drive investment in our communities”
For more information about the Maryland Innovation Lab and to apply for the accelerator program via the L Marks application portal, The Bridge, please visit: www.MarylandInnovationLab.com
Applications close on February 12, 2024.