World Business Chicago is hosting a new food innovation summit at the end of the month.
Called Chicago Venture Summit Future-of-Food, the event will bring together companies from all over the world to experience our food innovation ecosystem.
Why it matters: Not only are more than 2,600 food innovation tech startups headquartered here, but the field is critical to improving logistics and sustainability in the food supply chain.
Context: Chicago has seen an 802% increase in capital for logistic tech companies since 2019, mostly coming from a surge in investments after disruptions slowed the global supply chain, according to a new WBC report.
In Q1 2022, 11 local food innovation companies raised $111 million.
Background: Since 2014, WBC has hosted Chicago Venture Summit events to raise awareness and funds for tech and startup businesses.
In 2021, WBC helped raise $9 billion in total funding for local tech founders, according to WBC president Michael Fassnacht.
What’s next: The summit takes place May 25–26. Programming highlights include:
Keynote speech from Cleveland Avenue founder and former McDonald’s CEO Don Thompson.
Panel discussion on the local food and beverage ecosystem.
Pitch competition for new food and agriculture founders.