Food System 6 Accelerator Announces Applications Open and Partnership with 1st Course Capital
Industry: Non Profit
This Partnership will provide FS6 Cohort 5 entrepreneurs with a $25k investment from 1CC
San Francisco, CA (PRUnderground) July 17th, 2019
Food System 6 (FS6), a food system innovation accelerator in the San Francisco Bay Area, is announcing a partnership with investment fund, 1st Course Capital (1CC). Both FS6 and 1CC are committed to supporting entrepreneurs that are building a more sustainable and equitable food system. In stride with their open call for applicants, FS6 is pleased to offer, through their partnership with 1st Course Capital, the opportunity for a $25k investment for eligible for-profit companies in their upcoming 5th cohort of entrepreneurs.
“As a lean non-profit with a big mission, it is critical that we align with partners who offer complementary support and resources for the community of leaders that we champion,” says Caesaré Assad, Program Director of FS6. “Access to capital is one of the biggest barriers for early stage entrepreneurs and this represents a step in the right direction.”
The FS6 Accelerator Program supports 6-8 companies per cohort, each of which is selected through a rigorous process that takes into consideration the transformative impact potential for Healthy People, Sustainable Ecosystems, Vibrant Farms, and Justice & Fairness, along with the economic viability of the business, and diversity and coachability of applicants. By participating in this program, entrepreneurs are signing up to become part of a community of impact-driven leaders who are joining together to build a food system that serves all. The call for applicants to participate in Cohort 5 is now open.
FS6 will continue to support up to 2 non-profit organizations per cohort at no charge, and will select 4-6 for-profit companies – each of which will be eligible to receive the $25,000 convertible note from 1CC upon successful program completion and meeting certain additional eligibility requirements. In addition, the 1CC team will donate their time to mentoring and supporting Cohort 5 entrepreneurs.
“The FS6 accelerator is committed to long term, impactful change in the food system. 1CC is thrilled to have the ability to donate our time and offer investment to their talented, systems-minded entrepreneurs – it’s a great opportunity to support the larger ecosystem and companies that are mission aligned with our investment thesis,” says Peter Herz, General Partner at 1CC.
To learn more about the program, explore partnership opportunities, or to apply to the next cohort, visit foodsystem6.org.
About 1st Course Capital (1CC)
1st Course Capital is an early stage venture capital firm focused on investing in Seed and Series A stage food and agriculture companies. Further information about 1st Course Capital will be made available at: www.1cc.vc
About Food System 6
Food System 6 (FS6) is a non-profit business accelerator whose mission is to support impact-driven entrepreneurs as they transform how we grow, produce, and distribute food. The organization runs a comprehensive program that mentors entrepreneurs by coaching them through a wide range of business and organizational needs. FS6 also works to educate stakeholders on the unique capital needs as related to redefining the food system. The FS6 portfolio includes 52 companies, both for profit and nonprofit, of which 50% are female-led and 43% are BIPOC founded or BIPOC serving. Since Cohort 1 (2016), the FS6 portfolio has seen a 90% survival rate and the portfolio companies have raised more than $30mil in blended capital. Additional information on the FS6 portfolio can be found here: www.foodsystem6.org/portfolio.html.