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Wadhwani Foundation and Snapbizz sign MoU to help attending ‘WF FMCG Venture ScaleUP’ Accelerator

WF FMCG Venture ScaleUP

Wadhwani Foundation’s hyper-growth accelerator program, “WF FMCG Venture ScaleUp” and SnapBizz announced the launch of a mentorship program for budding FMCG startups attending the Wadhwani Foundation’s accelerator program, “WF FMCG Venture ScaleUp”. The mentorship program will work as a launch pad for fellow startups to foray into traditional retail and enable them to learn the nuances of marketing from industry veterans.
A one-of-its-kind accelerator for FMCG startups in India, WF FMCG Venture Scaleup is a three months’ hyper-growth business accelerator for emerging FMCG startups in India to enable them to drive brand visibility and retail sales across channels, and scale revenue possibilities. It is a goal oriented, deep engagement, zero equity, no fees program, and has a strong focus on individual attention through one on one mentor and expert sessions, and experiential learning by WF growth coaches, domain experts, mentors, entrepreneurs, service providers and investors to help achieve tangible growth and the right ‘Traction Metrics’. The FMCG Startups gain access to FMCG brands, channel partners and retail chains in addition to marketing and advertising support.
Participating startups are able to pilot and scale their product placements, sales, distribution and brand visibility through corporate collaborations. In addition, the program also works with stakeholders across the FMCG value chain connecting the startups to service providers such as logistics, manufacturing, product design, packaging and many more. Throughout the program, startups have ongoing meetings with corporate collaborators and will be able to pilot partnership opportunities.
As part of the MoU, Snapbizz shall provide the FMCG Brands from WF FMCG Venture Scaleup access to insights on General Trade (GT) stores, sales information categories & surrogate brands information on sales performance and rollout strategy. This will help these FMCG Brands pick the right GT stores across India as relevant to their positioning, target segment and product category. The tie-up will also enable the FMCG brands to conduct promotions and in-store marketing, provide offers and discount campaigns to drive sales and display their advertising content to build brand awareness.
SnapBizz solution connects all stakeholders from the FMCG ecosystem and its partnership with Wadhwani Foundation stems from the objective to connect FMCG startups with traditional retailers. Most of these start-ups are product innovations in food and personal hygiene and will now be available to masses through SnapBizz retail outlets.
To begin with, Snapbizz will be supporting 12 brands out of which eight are food and four are personal care categories. The main focus would be to drive appropriate distribution and targeted consumer engagement across Snapbizz Stores. Additionally, Snapbizz would build awareness and visibility for these brands through contextual ads, digital display and push offer services. Snapbizz will add value to these brands to get an in-depth understanding of consumer behaviour, communication effectiveness and competition analysis to further drive efficiency and improve procurement cycle.
Speaking on the success of WF FMCG Venture ScaleUp, Dr Ajay Kela, President and CEO, Wadhwani Foundation said, “The real value of any accelerator program lies not in education but in connects and peer learning. WF Venture ScaleUp is focused on enabling hyper-growth to participating startups by enabling connects with mentors, and potential customers and investors. Over and above the three months of deep intervention, our USP is the nine months of continued business support and lifetime access on NEN’s platforms to mentors, experts, service providers and investors”.
Commenting on the strategic tie-up with Wadhwani Foundation, Prem Kumar, CEO, Snapbizz said “Being a startup, we know and empathize with the pain points of fellow start-ups. Our role is of an enabler, connecting these brands to the biggest retail basket in the country and make online-only products accessible in the mass market. We are happy that we now not only impact large marketers but also facilitate fledgling FMCG start-ups scale up. We have resources with rich experience in FMCG and these brands can leverage them copiously to scale-up their operations. We have more than 4000 stores across key markets including Mumbai, Delhi, and Pune. This is also yet another step in our social impact agenda of giving the traditional stores a competitive edge and leap frogging them from calculator to cloud and skilling the retail resources. Snapbizz has a proven track record of adding values to marketers and retailers. In this partnership, we feel happy to support FMCG start-ups with our technology solutions to scale up in the offline market.”

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