Nicolai Jæpelt is the Project Leader for Coop Crowdfunding. Coop is one of the largest supermarket chains in Denmark and is run as a cooperative with approx. 1.8 million members. The supermarket has created a crowdfunding platform where members can invest in early stage food initiatives they believe in. We cover how to get on Coop’s shelves, why this new pathway is so interesting, and what consumers are investing in. We also chat about how to make a successful food crowdfunding campaign and why the platform has become a trend spotting platform for other purchasers.
Key Minutes & Show Notes
1:50 What is Coop Crowdfunding?
3:10 What does a company who is not ready to be rolled out centrally in your system look like?
Show us quality and deliverance.
4:30 What is the process for an early company starting on Coop Crowdfunding and then scaling centrally?
5:25 How do you market new products to Coop members to ensure they engage and invest?
The average product probably gets 2-3 mentions on Coop’s marketing channels.
6:18 What kind of projects are consumers tending to fund?
7:40 How is a funding a new food product different from Kickstarter campaign?
We have 1,150 shops and a coop owned by 1.8 million Danes. It’s a large system and many companies approach us, but aren’t yet ready to be scaled out. We wanted to do something where we could already start working with them early until they were ready for the big system.
11:00 What kind of incentives are startups offering?
13:45 Is this model only being deployed in Denmark or at other Coops around the world?
14:12 What is the business model for Coop?
16:20 What is Coop’s position compared to other supermarkets? Can you explain the business landscape?
18:45 How long has Coop Crowdfunding been around?
19:22 How long does it take to get a project up on the platform? What is the process of a campaign?
24:45 What is the alternative of how to contact and work with Coop if one doesn’t take the crowdfunding route?
By definition, you cannot be small.
26:45 Are there any common mistakes you see startups making that you would like to point out?
27:40 What is your vision for what the Nordic FoodTech ecosystem should look like in 10-15 years?
The shelf is where the hard work starts.
31:30 How can we help Coop Crowdfunding to succeed?
32:50 What’s the best way for listeners to get in touch?