Austin consumer packaged goods accelerator SKU plans to expand into the Metroplex market this fall.
The announcement comes as SKU has been growing across the country. Last year, it partnered with CPG consulting firm BeyondBrands to launch natural brand accelerator BeyondSKU in New York. And this August, it’s kicking off “purpose-driven” startup program ImpactSKU in Minneapolis, in partnership with FINNOVATION Lab.
“One of the common themes that has come up from entrepreneurs is the need for guidance weathering these uncertain conditions,” said SKU Executive Director Kirstin Ross in a prepared statement. “SKU’s program provides emerging brands the mentorship, network and support they need to grow and thrive.”
SKU was created by lawyer Shari Wynne Ressler and entrepreneur Clayton Christopher, who founded Sweet Leaf Tea and Deep Eddy Vodka. Since its founding, the accelerator has seen more than 50 companies go through its program, including Austin Eastciders, EPIC Provisions and Pure Active CBD. In 2016, Forbes called it one of the country’s top accelerators.
“Going through SKU allowed us to objectively look at our company and make the necessary changes to fuel the next phase of growth. It was an invaluable experience,” said Adam Grossman, co-founder of Seaweed Bath Co., in a prepared statement.
For its SKU DFW accelerator, which kicks off on September 10 and runs through November 11, SKU is working with local mentoring organization DFW CPG. SKU is looking for five companies for its first North Texas cohort, with a focus on later-stage startup (more than $500,000 in annual revenue) program, of which the first class will be led by former Whole Foods co-CEO Walter Robb and a number of other CPG leaders. SKU hopes the Metroplex can become a hub of consumer goods by combining CPG startups with industry leaders.
The eight-week course will combine in-person and virtual programming, as the Covid-19 pandemic is likely to still have lingering effects in the months ahead. The pandemic has also created a need for a CPG program, SKU said, as retail stores and brands across the country have seen declining revenue as locations close their doors and consumers are affected by the economic downturn. The program will culminate in a showcase pitch event.
SKU is currently in the process of looking for startups and mentors as it gears up for its North Texas launch.
“…the addition of a nationally recognized CPG accelerator to the DFW CPG community and the utilization of the region’s strength… help build great companies,” said Richard Riccardi, co-founder of DFW CPG and mentor for SKU in Austin.
