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InvestBev names accelerator brands
Sprout Beverage, the startup accelerator arm of InvestBev, has announced its winter 2024 cohort.
The programme hosts two three-month programmes each year, during which brand founders will receive education, mentoring and resources to support them in four key areas: product strategy and development, marketing and growth, finance and compliance, and leadership development.
The programme culminates in a pitch competition, with brands competing to secure US$100,000 in investment and a place in the InvestBev brand portfolio.
“The adult beverage space is an extremely competitive one with a failure rate of nearly 95% for new brands,” said Gustavo Aguirre, vice president of brand incubation for Sprout Beverage.
“There was a big need in this industry to support innovators and early-stage makers, so we created the accelerator cohorts to give founders a better chance to be in the 5% that survives to drive our industry forward.”
This year’s cohort includes two Tequila brands, Estoico Indigo and Sueños Spirits, and two mezcal brands, Doce Mezcal and Santo de Piedra.
Avanas – a pineapple-infused premium vodka – Levenswater Gin, Suyo Pisco and rum brand Oksen will also take part.
Ready-to-drink (RTD) products are represented through Bootleggers Cocktails, while Absinthia creates both absinthes and craft mixers. Lixir is a honey-based alcohol that positions itself in the ‘better-for-you’ category.
The final brand in the cohort is Rococo Tokyo, a beer brand.
“The brands we’ve selected for this cohort reflect the opportunities and growing categories in the world of spirits – from RTDs to artisanal spirits, mezcals, Tequilas and pisco,” said Brian Rosen, Sprout Beverage founder.
“This is an amazing group of beverage founders from all over the world, and we’re excited to help them make their mark in the adult beverage industry.”
Last year, Sprout Beverage’s sister company Algoma Capital backed Off Hours Bourbon, while parent company InvestBev backed Ten To One Rum and RTD brand Thomas Ashbourne.