2023 December Board Book

What would you like the dairy industry to know about the value of programs like this? TALBOT: Business isn’t always kind to passive bystanders, and infation/recession doesn’t help. Market leadership is not an entitlement. With dairy in 90% of households and account‐ ing for 11% of total food/beverage sales, we have a big target on our back. There will always be new competitors and new investors coming after our markets and our consumers. Innovation is not an option, it’s an imperative. How can people get involved in the Milk Excelerator contest and programs offered by the California Milk Advisory Board? TALBOT: Entrepreneurs can enter the contest starting in June every year at the program's website (https://info.venturefuel.net/rcmexcelerator) , where updates and announcements about the program and the fnalists will also be shared. This year’s theme is open innovation, and we’re seeking products made with at least 50% dairy including but not limited to: foods, beverages, personal care products, packaging, mate‐ rial sciences, textiles, pet products or anything else using dairy in an innovative way. After the application process closed in July, we selected our fnalists who were then entered into a three-month program that started in August, featuring access to industry-specifc con‐ tent resources, high-quality and tailored mentorship and a group stipend to cover costs asso‐ ciated with producing, developing and fne-tuning products and business plans. At the conclusion of the program, the cohort will sample and pitch their products to a panel of industry-expert judges at a fnal live pitch event Nov. 16 (which also will be available for virtual viewing). Four winners will receive a $30,000 marketing support prize and access to an exclusive retailer and investor event to generate business leads and investment opportu‐ nities. A $100,000 marketing support grand prize will be awarded to the winner with the high‐ est sales tracked over a year after the live pitch event. For ongoing information about innovation initiatives, funding for innovation projects, short courses and trainings, connect with the (https://www.cdic.net/) California Dairy Innovation Center (https://www.cdic.net/) .