Food Fight

Lauren Abda : Rhode Island Poised to Emerge as a Top Food Innovator as Branchfood Sets Foot in Providence

In a strategic move that highlights Rhode Island’s potential as a food innovation hub, Boston based food launchpad Branchfood is expanding its operations into the state. Founded in 2015 by Lauren Abda, a Tufts University alumna who was drawn to nutrition and food innovation after her grandmother’s leukemia diagnosis, Branchfood has steadily grown as a nexus for “stage two” food brands, providing them with crucial industry specific support.

Speaking about her brainchild, Abda described, “Branchfood is not just a launchpad. It’s where food industry innovation thrives. Our multifaceted approach includes connecting innovators across the supply chain, enabling investments, conducting curated events, and offering advisory support.” Their key initiatives include the Branch Venture Group, an angel investment network committed to sustainable high-growth ventures, and their flagship annual conference, Food Edge.

Branchfood‘s focus, as Abda clarified, is not on fledgling startups. “While Rhode Island has terrific entities like Hope & Main or Social Enterprise Greenhouse to support early-phase entrepreneurs, Branchfood is tailored for ‘stage two’ food businesses,” she explained. These are companies that have moved beyond initial challenges and now grapple with issues like specialized manufacturing needs, navigating complex partnerships, and securing capital.

So why Rhode Island? Abda‘s rationale is clear. “Over the years, we’ve built significant rapport with the Rhode Island food community. The state boasts a rich food ecosystem that ranges from higher education initiatives to entrepreneurial hubs and distribution networks,” she observed, adding that Rhode Island is perfectly poised to lead in the New England goal of achieving 50% local food production by 2060.

The company’s ambitions don’t stop there. While they’re focused on making their second state expansion successful, Abda hinted at further growth: “We constantly evaluate iconic food centric locations and identify where we can amplify the existing community’s needs to align with our mission of fostering a sustainable food system.”

Touching upon global agricultural exports, Abda drew a comparison, “While the US stands as the world’s top agricultural exporter, the Netherlands, despite its smaller size, follows closely due to its technological prowess in indoor growing. This clearly indicates the immense growth potential.”

Discussing investment challenges, Abda noted, “The food industry is tricky, with traditionally thin margins now even more constrained by the pandemic.” The Branch Venture Group, she explained, seeks a diverse range of investment opportunities, from consumer brands to food and agri-tech companies. Their portfolio includes notable names such as Upside Foods, Bluetrace, and Willie’s Superbrew, among others.

Reflecting on Branchfood‘s journey since its inception, Abda proudly shared, “Our impact is tangible. We’ve backed over 800 founders, orchestrated 200+ community events, and cultivated a 16,000-strong community that’s revolutionizing food. Moreover, at Branch Venture Group, we’ve channeled nearly $3.5 million into 15 early stage food and agri-food tech startups.”

Branchfood‘s expansion into Rhode Island underscores its commitment to fostering innovation in the food industry, promising an exciting future for “stage two” food businesses in the state and beyond.

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