Coop on helping startups get on the shelves
Coop is one of the biggest supermarket chains in Denmark. Here's how they are working with startups and local food projects to get into stores.
Coop is a supermarket chain in Denmark that's run as a cooperative. They have around 1.8 million members, and now they created a crowdfunding platform where any kind of food related project can market itself and get financial backing from Coop’s members.
Not only does this provide a new funding and marketing channel for early-stage startups, it's also become a scouting ground for restaurants, hotels, and other investors to find new products. I speak with the Head of Coop Crowdfunding on how their platform is becoming a funnel for new food products to enter the market.
🛒 How other Nordic grocery retailers are thinking about the future of food
🌱 ICA, the Swedish supermarket, is developing new products to shift the food system
🧑🌾 Delås Farm on what it means to be a regenerative farmer
🚀 Coop Crowdfunding on enabling their customers to invest in food startups
Analisa Winther, Nordic FoodTech Podcast Host 1:08
When did you first realize or was there a moment when you realized that you wanted to work within food?
Nicolai Jaepelt, Coop Crowdfunding 1:17
I’ve always been very fond of cooking. So for me, it started when I started my own company working with organic soups in 2008. I had the company for seven years where we were trying to make soup a sustainable, affordable alternative to other fast foods, which was healthy and ready to eat. So basically, yeah, working with food for seven years and then it continued from there.
Analisa Winther, Nordic FoodTech Podcast Host 1:52
So now you work for a place called Coop Crowdfunding. Can you tell us what that is and what the project is?
Nicolai Jaepelt, Coop Crowdfunding 1:58
Coop Crowdfunding is a part of Coop, which is one of the largest retailers in Denmark. Coop Crowdfunding was created for several purposes. The main purpose is that we want more food companies to succeed. We have a lot of companies who come to Coop and want to sell in our shops, but are not ready. Because when you when you sell to Coop, it's a large system. 1,150 shops. So, we wanted to do something for all those startups who were maybe not ready to be part of the big system, but could be within the next few years. So, that was one of the main objectives. The other one is that we wanted to engage our members. Coop is a cooperative owned by 1.8 million Danes. We wanted to engage all our members in these amazing food startups we have in Denmark and this is one way to do it. So, we have made a crowdfunding platform online where everybody who works with food and drink can present their project and hopefully get it financed as well.
Analisa Winther, Nordic FoodTech Podcast Host 3:09
When you say not ready, what does a company that's not ready look like versus one that is ready to launch in the 1,150 shops you have?