According to Chobhani, the three month scheme will help the start-ups “take on the big guys.”
“We're here to help small companies with big hearts and ideas challenge the food industry, improve broken systems, and make a difference,” said the yoghurt producer.
The final five were chosen from over 100 applications to the programme, and had to pass a rigorous selection process.
They are: 99th Monkey - A company that makes ethically sourced and minimally-processed nut butters.
Bake Mixes - A firm creating healthy and wholesome baking mixes that deliver a great deal of nutritional value.
Kooee Snacks - A company changing the way the world views jerky with its high-protein healthy offering.
Matcha Maiden - A beverage outfit offering a gentler source of caffeine with higher antioxidant and nutritional properties.
Mingle Seasoning - A company creating seasonings with innovative combinations of herbs and spices.
“We love what Australian entrepreneurs are doing and think they have something special to offer food lovers,” said Chobani Australia managing director, Peter Meek. “The Chobani Food Incubator is our way of paying forward the success we’ve had and the lessons we’ve learned along the way. We’re excited about giving these small companies an opportunity to break through and make a difference.”
The successful start-ups will now spend three months learning from key members and executives of the Chobani team, take part in educational programs at a variety of Chobani locations, and receive a $10,000 grant to grow their business, equity free.
They also undertake product developments and research work at Monash University’s recently launched $3m food incubation facility, located at the Food innovation Centre (FIC).
Chobani was established by in the US by Hamdi Ulukaya in 2007 and is now a $1.5 billion business. It first entered the Australia market in 2011.