Australian incubator Seedlab has secured an additional $7 million in funding from Woolworths Group, allowing it to continue its aim of aiding FMCG startups in Australia and New Zealand.
The three-year funding will enable the incubator to assist the expansion of 500 companies that produce innovative, value-added food, non-alcoholic drinks, and more sustainable personal and home care products.
Seedlab Australia, launched in 2021, has supported more than 400 businesses. According to its 2024 Outcomes and Impact Report, companies completing Seedlab Australia’s programs are expected to have a total business value of over $61 million within the next year.
Hazel MacTavish-West, CEO and co-founder of Seedlab Australia, says Woolworths’ “significant” impact has changed the lives of some 500 business owners in Australia and New Zealand.
“The support from Woolworths has been more than financial; its team has actively helped demystify the complex processes involved in pitching to and supplying the major retailer,” MacTavish-West said.
Seedlab Australia’s Bootcamp and Cultivate programs offer curricula, seminars, and access to industry experts to help entrepreneurs transform their FMCG business ideas into reality.
These programs cover topics including business, consumers, product, supply, brand, marketing, and how to pitch to Woolworths category managers.
Last month, Seedlab Australia announced the SME list for its upcoming Bootcamp 10, which will host 55 new and developing FMCG entrepreneurs from Australia and New Zealand.
