What do top F500 companies like BP, Walmart, Toyota and Microsoft have in common? They’ve all built their own corporate accelerators to partner with cutting-edge startups and tap into their agility, creativity and disruptive ideas. By forging a pipeline of strategic ventures, these companies are merging the best of both worlds:
- The vast resources and reach of established enterprises
- The nimbleness, innovation and speed of startups
It’s a fundamental shift in the way companies innovate that’s present across almost every industry including retail, mobility, tech, banking, energy and food and beverages. Case in point: Boortmalt’s corporate accelerator: BoortmaltX.
With the demand for sustainable, high-quality ingredients on the rise, BoortmaltX is partnering with cutting-edge startups to find new and innovative applications for malt, barley and it’s co-products.
Ready for an inside look and BoortmaltX and how it’s helping its parent company (Boortmalt) unlock new revenue, value spaces and malt applications? Keep reading!
About Boortmalt
Founded back in 1927 and headquartered in Antwerp, Belgium, Boortmalt (aka, masters of malt) is one of the world’s largest and most renowned malting companies. With a production capacity of three million tonnes, 27 malting plants and a presence in five continents, its commitment to producing premium quality barley malts has earned Boortmalt widespread acclaim and trust among brewers, distillers, and industry players worldwide. As stated on the company website:
"Masters of Malt, is not about claiming first place, it's about offering the best malt to passionate and demanding customers.”
Sustainability and innovation are core pillars within Boortmalt, with various initiatives in areas like sustainable farming, water conservation and emissions reduction. Boortmalt also has innovation centres in Argentina and Belgium covering things like:
- Creating and experimenting with new offerings
- Getting proof of concept for new products, ideas and technologies
- Collaborating with customers, universities and external partners
BoortmaltX is one of its latest innovation initiatives.
Meet BoortmaltX
BoortmaltX is Boortmalt’s very own corporate accelerator, built with the goal of partnering with cutting-edge food tech startups to develop new and innovative processes for malting and fermentation. Since its launch in 2022, the team has already identified:
- 7 new value spaces, including beauty, fish feed, and sports supplements
- 27 potential startup partners within these value spaces
- A working partnership framework
The program is designed to help boost the development of cutting-edge food-tech startups by providing them with access to Boortmalt’s global assets and expertise. The goal? To build a future where fermentation, malting and related technologies replace chemicals and animal proteins - providing natural food and cosmetic solutions that benefit the environment and consumers worldwide.
How BoortmaltX works
BoortmaltX operates as an open innovation platform, welcoming startups and entrepreneurs to collaborate on projects and bring them to life as thriving ventures. Participating startups are given access to experienced mentors, a network of partners, funding, workshops, resources, and peer learning opportunities.
The program itself lasts 12 to 15 months and consists of three tracks:
Track 1: From concept to reality
During this track, startups work with BoortmaltX mentors to assess and determine the concept’s success potential as well as the strength of the IP within the food tech space.
Track 2: Ensuring product-market fit
During this track, startups work closely with the BoortmaltX team to validate product demand, test the desirability of the new offering and fine tune the value proposition.
Track 3: Path to sustainable growth
This track focuses on scaling ventures, fostering sustainable growth and helping founders optimise unit economics, so they can become profitable within their specific growth segment.
Part of what makes BoortmaltX so successful is its team of experienced, hands-on mentors who work closely with startup founders at every step of the venture development journey.
What makes BoortmaltX successful?
The success of BoortmaltX can be attributed to its unique blend of industry expertise, global corporate assets and open innovation model, which fosters the cross-pollination of ideas, boosting creativity and innovation.
Let’s take a closer look at some of these factors:
Industry expertise
With almost a century's worth of experience in malting and fermentation, Boortmalt has extensive knowledge and carefully refined processes. A valuable resource available to startups that join the BoortmaltX accelerator program.
Corporate assets
Aside from its industry expertise, Boortmalt has a wide array of corporate assets that provide a unique competitive advantage to startups that join BoortmaltX. Among the most notable are: global partnerships, infrastructure, funding, and coaches to help test and develop new offerings.
An open innovation model
Startups that join the BoortmaltX program bring a wide variety of new ideas, insights and perspectives. This collective intelligence can lead to more innovative and effective solutions.
The speed and flexibility of a startup
Corporate processes often impede the innovative process, novel and out-of-the-box concept from getting to the market with the speed needed to compete. BoortmaltX provides a protected space for idea development that is free of corporate setbacks.
What’s next for BoortmaltX?
BoortmaltX is currently gearing up for its next round of food tech startups, with this year’s application deadline falling on the 1st of October. The scope of interest this year is vast, extending beyond the traditional food and beverages and branching into segments like natural cosmetics, pet food, and supplements.
In addition to working with startups, BoortmaltX will continue its focus towards sustainability, driving forward its mission to create a more efficient, responsible, and innovative malt industry. There are a few interesting projects already underway, so be sure to check out the BoortmaltX website for updates.
___
Looking to expand beyond your core business, access game-changing startups, and boost your entrepreneurial capabilities? We can help you build your own corporate accelerator, leveraging your unique assets to hit your growth goals fast.
.svg){kind=icon}
