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Successful Closure Of The First Cycle Of Grupo Bimbo’s Eleva Food Technology Accelerator

We are closing this initial ELEVA cycle with deep satisfaction and enthusiasm upon witnessing the entrepreneurial spirit of so many people, and their deep desire to work with Grupo Bimbo in this ongoing pursuit of innovation

José Manuel Ramírez, Director for Bimbo Ventures

• Two pilot programs on responsible supply of wheat and corn were formalized in Mexico with Bunge and Cargill, respectively.

• Producers participating in these pilot projects will supply Bimbo with 50 thousand tons of wheat and 25 thousand tons of maize grown with sustainable agricultural technologies and practices.

Mexico City, December 21, 2017 - Bimbo Ventures, a department dedicated to promoting high-potential projects at Grupo Bimbo, in partnership with BlueBox Ventures – the largest network in Latin America of incubators, accelerators and corporate investment funds – successfully closed the first ELEVA Food Technology Accelerator by Bimbo cycle, an ecosystem that provides startups with the elements needed to develop their initiatives.

Of the more than 200 startups that heeded the call launched globally last June, nine finalists were chosen for the acceleration program. Over the course of 16 weeks, the entrepreneurs worked on developing their innovation projects, receiving internal and external mentoring. They tested their ideas and technology at Grupo Bimbo, working side by side with a team of more than one hundred of Grupo Bimbo’s collaborators.

During Demo Day − the close of this intensive acceleration program, held at Grupo Bimbo’s corporate headquarters – each startup taking part in ELEVA presented results obtained to a forum comprising the company’s directors and executives.

“We are closing this initial ELEVA cycle with deep satisfaction and enthusiasm upon witnessing the entrepreneurial spirit of so many people, and their deep desire to work with Grupo Bimbo in this ongoing pursuit of innovation”, said José Manuel Ramírez, Director for Bimbo Ventures. He added, “This is a starting point to launch several of the projects that show a high degree of potential. We will explore together four different capital investment options and four different supply/service options, working with them and supporting the strengthening of their entrepreneurial endeavors.”

Through the joint work of Bimbo Ventures and ELEVA, the company offers startups the possibility of developing their projects alongside Grupo Bimbo, employing a comprehensive model that encompasses three fundamental aspects: mentorship, funding and commercial partnerships.

In the coming months the call for the next cycle of the ELEVA Food Technology Accelerator by Bimbo will be launched. In this manner, Grupo Bimbo reiterates its commitment to the ongoing pursuit of innovation and the development of entrepreneurs and startups.

To learn more about the ELEVA Food Technology Accelerator by Bimbo, visit our website: www.bimboeleva.com