Food Entrepreneurship

EPS9507 Food Entrepreneurship
3 Elective Credits

There is disruption everywhere in food! With challenges due to COVID, there are global food shortages, supply chain interruptions, and innovations in food science that affect how food entrepreneurs identify or create opportunities, launch and grow ventures. Once alternative foods are now mainstream, large food companies are struggling to reinvent themselves and consumers are driving significant change. There is a proliferation of start-ups, food science and technology innovations as well as rising awareness for food priorities, nutrition, education and health.

This experiential elective focuses on the food entrepreneur's journey from idea to launch. We begin with an exploration of your personal passions in the food industry, then examine global megatrends in food where needs, gaps and opportunities are identified. In teams, students will design a new initiative to meet this need/opportunity. Students will engage with food industry experts, consumers and other stakeholders to develop and explore their new initiative as a solution to a food related problem or opportunity. Students will obtain feedback on these initiatives, develop a prototype and experiment with the business model. Resource acquisition strategies and metrics for these new initiatives' food will be developed and investigated. New initiatives may be a program, non-profit, corporate venture or new venture, and can be in any sector related to food- including the following:

• growing (e.g. agriculture, production, nutrition)

• making (e.g. producing food in restaurants, beverages, consumer packaged goods)

• moving (e.g. food services, distribution, shipping, packaging, delivery)

• selling (e.g. wholesaling, marketing, retailing, ecommerce)

• serving (e.g. staffing, feeding, food health)

• disposing (e.g. food waste, packaging, composting)

In addition to working on your own initiatives, students will also co-create solutions to a real-world business problem facing food entrepreneurs who will visit the class. Further, using Babson's Entrepreneurial Thought & Action (ET&A) method, each student will consider the dynamics and interconnectedness of the food industry through a series of individual activities in each of the six food sectors, sharing their experiences and reflections. Be prepared to share family recipes, participate in a "chopped challenge" and measure your food waste. Bring your appetite for learning and food!