Woolworths Group has invested an additional $7 million into small business accelerator, Seedlab Australia, to help start-ups become retail ready. Since 2021, Woolworths has previously provided the FMCG business incubator with over $5.2 million in funding.
Seedlab Australia’s hands-on approach provides business training, support, and unique opportunities, at no cost to the participants. Through its Bootcamp and Cultivate programs, Seedlab educates entrepreneurs through tailored curricula, masterclasses, and access to industry experts, on content spanning business, consumers, product, supply, brand, marketing and pitching to Woolworths category managers.
The 6-week Bootcamp incubator program is designed to equip business owners with information to benchmark their retail readiness, while the new five-month long Cultivate accelerator program builds on Bootcamp, equipping businesses with 1:1 mentoring, leadership and marketing modules, and guidance in becoming a more valuable supermarket supplier.
Since its inception in 2021, Seedlab Australia has supported over 400 businesses, and according to its 2024 Outcomes and Impact Report, the businesses that have completed Seedlab Australia’s programs are projected to have a cumulative perceived business value of over $61 million in the next 12 months.
This further three years of funding from Woolworths will extend the program's reach and impact, furthering the growth of around 500 businesses producing innovative, value-added food, non-alcoholic beverages, and more sustainable personal and home care products.
Seedlab Australia CEO and co-founder, Dr Hazel MacTavish-West, emphasised the impact of Woolworths’ extended funding and support for new, emerging and existing FMCG businesses.
"We are thrilled that Woolworths continues to see the immense value in our program. This three-year commitment is a game-changer for approximately 500 business founders across Australia and New Zealand,” said MacTavish-West.
“The support from Woolworths has been more than financial; their team has actively helped demystify the complex processes involved in pitching to, and supplying the major retailer.
“Together we have deconstructed the processes for pitching to, supplying into and working with national supermarkets and specialty retailers for our participants, which has already seen over 100 small suppliers cumulatively invest $26million into their businesses, expand their production by over 210 per cent, and create 140 new FTE jobs,” she said.
After completing the Bootcamp program, participants predicted an average additional value of $13.2 million over 3 years collectively. In addition to this financial success, Seedlab has also been a catalyst for job creation, with 110 Cultivate alumni creating 143 new full-time roles within their businesses over the last 3 years.
The 2024 Outcomes and Impact Report revealed that 66 per cent of Bootcamp participants and 74 per cent of Cultivate participants were women-led businesses. 30 per cent of the most recent Seedlab intake of over 50 new ‘Bootcampers’ are also based in New Zealand, encouraging further cooperation, trade, and knowledge-sharing throughout the ANZ region.
Additionally, the program has supported over 27 First Nations businesses, further strengthening its inclusive approach.
Woolworths chief commercial officer, Paul Harker, said that existing small suppliers to Woolworths will also have the opportunity to benefit from Seedlab programs, expertise and intel.
“We have seen great success in backing Seedlab Australia who have supported over 390 businesses to become pitch and retail ready,” said Harker.
“I’m pleased to announce we are expanding our partnership to include existing small suppliers to Woolworths. From July 2024, any new small business, as defined by the Small Business Identification tool and supplying value added products to us, will be offered a place in the Seedlab program.
“This means that not only do they receive support from our Woolworths team, but they will have full access to Seedlab resources to help set them up for success in their first year of supplying Woolworths,” he said.
More information about Seedlab Australia is available online at seedlabaustralia.com.au. Make sure to check out the article Dr Hazel MacTavish-West published with Food & Drink Business last year, as well as her appearance on the FDB podcast.
