Mondelēz International to open innovation hub SnackFutures

US-based Mondelēz International is set to launch an innovation hub called SnackFutures, which will focus on consumer trends and growth opportunities in the snacking sector.

SnackFutures will combine internal talent, an ecosystem of external partnerships and dedicated funding across three integrated mandates.

The hub will also focus on venturing with start-up entrepreneurs in order to begin new businesses.

Mondelēz International executive vice-president and chief growth officer Tim Cofer said: “Discovering and unleashing innovative ideas in snacking that will delight consumers and drive growth is a key element of our new strategy.

“We are launching SnackFutures, a new forward-thinking innovation hub, to capitalise on new trends and mobilise entrepreneurial talent and technologies to build and grow small brands with large-scale potential.

“SnackFutures will unlock snacking growth opportunities around the world that respond to emerging trends and changing consumer preferences.”

SnackFutures officially launches next month and will seek creative, entrepreneurial individuals and partners with great snacking-related ideas or capabilities.

It will collaborate on opportunities in well-being and premium snacks, as well as digital platforms.

Mondelēz International anticipates that SnackFutures could contribute $100m to revenue growth by 2022.

Last year, Mondelēz reported net revenues of about $26bn. The company’s brands include Oreo, belVita, Cadbury Dairy Milk, Toblerone, Sour Patch Kids candy and Trident gum.