The Food and Beverage Accelerator (FaBA) is calling for applications to share in its second funding round of $20 million to develop product and ingredient ideas.
FaBA is part of the federal government’s Trailblazer Universities Program and hosted by the University of Queensland. It is designed to coordinate research teams and industry from around Australia to develop premium products and ingredients as well as train the next generation of industry leaders. Participants have access to leading food and beverage researchers at FaBA’s university partners UQ, QUT and the University of Southern Queensland.
FaBA director Dr Chris Downs said the investment would enable collaboration on product development, sensory and consumer sciences, business insights, and marketing.
“We’re encouraging food and beverage manufacturers around the country to partner with us and share in dollar matched investment to turn their business ideas into reality.
“FaBA aims to deliver ‘science at start-up speed’ to provide smart, sustainable solutions to industry challenges and grow Australia’s food manufacturing sector, creating jobs.
“The second investment round represents an incredible opportunity for new participants and projects to access all that FaBA has to offer,” Dr Downs said.
First round participants included All G Foods, Gelita, Nourish Ingredients, Eden Brew, and v2food.
FaBA Commercialisation and Business Development manager, Lloyd Thomson, said FaBA has skills and expertise across business, engineering, systems biology, food science, and commercialisation to support innovation and enduring partnerships.
“Through FaBA, Australian businesses can access the expertise essential to work to deliver products that meet consumer demand, resolve manufacturing challenges, boost profitability and, importantly, help deliver a commercially sustainable product far quicker than traditional R&D approaches,” Thomson said.
Expressions of interest for this investment round is open and closes on 22 September 2023.
Find out more here.
