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General Mills Hopes Investing In Small Start-Ups Will Pay Off Big

October 22, 2015: 12:00 AM EST
General Mills has changed the strategy for its internal new venture development unit 301 Inc. The three-year-old unit will emphasize investment in small regional start-ups that have the potential to make big – and innovative – waves in the food industry. The idea is to provide capital to the start-ups to help smooth their way to significant market share. One example of the new strategy involves plant-based food maker Beyond Meat. General Mills took a minority stake in the company two years ago, and since then has helped it solve supply chain challenges. Beyond Meat is working on new products that General Mills hopes will reach grocery shelves early next year.
John Kell, "General Mills is starting a VC for food startups", Fortune, October 22, 2015, © Time Inc.
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