LOS ANGELES--(BUSINESS WIRE)--M13’s Launchpad is pleased to announce the launch of its Founder-in-Residence (FIR) program. The first cohort of 12 FIRs within the US will be selected to join M13’s in-house incubator, Launchpad, for a virtual 12-week program designed to guide them through concept ideation to market validation. M13’s unique program enables talented operators with entrepreneurial agility and DTC expertise to access ideas and a programmatic testing process; its supportive networks of partners, influencers and investors; and the complementary strengths of M13’s corporate partners.
M13’s first cohort of FIRs is sponsored by PepsiCo, Inc. PepsiCo executives and advisors will participate in Launchpad’s FIR program by sharing perspectives on scaling in market and strategic expertise.
Launchpad’s FIR program will include building high-functioning founding teams, concept ideation, concept validation, programmatic testing for product efficacy and demand, critical learnings and graduation. Launchpad FIRs will leverage M13’s networks and PepsiCo’s expertise to innovate scalable health and wellness solutions with the potential to make a significant impact on consumers’ lives.
M13 Partner and Head of Launchpad Anna Barber said, “M13 is excited to continue our innovative approach to incubating new companies with our first ever Founders-in-Residence program. PepsiCo brings an incredible track record of CPG success that will contribute to a vibrant learning environment for our entrepreneurs. We are also proud that the virtual format of our FIR program will open access to the entrepreneurial journey regardless of zip code, resulting in a diverse range of next generation household brands.”
“We are thrilled to partner with M13 on its efforts to ideate with and build scalable companies that have the potential to make a significant impact on consumers’ lives,” said Jen Saenz, President, PepsiCo Global Foods. “M13 shares our commitment to nurturing and learning from breakthrough innovations and entrepreneurs while supporting their growth.”
The 12 week virtual program starts in March, with each FIR receiving a $10,000 monthly stipend and each team receiving sufficient testing budgets to reach graduation. Upon successful graduation, each new company will receive seed funding to scale towards a series A round.
M13’s Launchpad began in 2019 in order to test new products and concepts and incubate companies independently and with corporate partners. To date, four companies have launched from Launchpad. Its first internally developed company is Rae, an inclusive line of affordable women’s wellness products available at Target, Anthropologie and Urban Outfitters. Companies developed in partnership with Procter & Gamble Ventures include the premium beauty tech OPTE, Kindra menopause products and Bodewell for sensitive skin care.
Learn more about Launchpad here.
M13 is a venture engine built by founders to serve founders. Founded in 2016 with offices in Los Angeles, New York and San Francisco, M13 invests in early stage consumer tech companies driving change in consumer behavior over the next decade. With more than 80 direct investments and 16 exits, M13’s portfolio totals over $137B in enterprise value and includes Lyft, Thrive Market, Ring, Daily Harvest, FabFitFun, Rothy’s and others. For more information about M13, please visit www.m13.co.