One-of-a-kind partnership supports Canadian consumer packaged goods brands while offering entrepreneurs access to networking, workshop, and intensive programs for brand expansion

TORONTO, March 19, 2024 /CNW/ - Venturepark Labs ("Venturepark"), a leading ecosystem in the Canadian consumer packaged goods (CPG) space, announced today the renewal of its partnership with Sobeys Inc. ("Sobeys"), a prominent leader in the Canadian grocery industry.

With various types of CPG support initiatives in Canada, the partnership will continue to propel local consumer-packaged goods entrepreneurs across Canada from the ideation phase to commercialization through a range of dynamic programs, including Venturepark's Concept to Market Sprint program, its 20,000 sq ft Food Incubator and commercial kitchen and the Accelerator program.

"Canada is a resource rich nation and a breeding ground for entrepreneurship and innovation. We are proud to renew our partnership with Sobeys, a testament of our shared commitment to championing Canadian entrepreneurs and the commercialization of their products," said Arlene Dickinson, CEO of Venturepark Labs. "Through this partnership, we help pave the way for a future where the success of our homegrown brands translates into the success of our country."

A recent report conducted by MNP LLP found that entrepreneurs supported by Arlene Dickinson's venture capital fund, District Ventures Capital, and Venturepark Labs have generated a total economic output to-date of $1.6 billion—creating a significant contribution to Canada's economy and providing more evidence of the importance of the potential of commercialization in the Canadian food and wellness CPG sectors.

Forged in 2020, this partnership is an extension of Empire Company's long-standing commitment to being the national grocer that Canadian families can count on for local food and well-being products that they have come to know and love. Over the past four years, entrepreneurs in Venturepark's programming have received valuable support including coaching from Local Development Specialists and opportunities to bring their products to the grocer's store shelves within a region or across Canada.

"Teaming up with a non-profit organization that has a strong commitment to support CPG startups like Venturepark Labs has been a really positive experience," said Rob Allsop, Vice President National Sourcing & Supplier Engagement at Sobeys. "With the invaluable support from Venturepark Labs, many of these brands gain crucial insights before hitting retail shelves. This partnership is poised to continually fuel entrepreneurial growth and success"

As a part of the renewed partnership, entrepreneurs in Venturepark's programming will receive enhanced access to an exclusive resource platform and curated events tailored to the CPG sector.

Venturepark is a Canadian organization that helps consumer goods brands grow. Its accelerator program has helped 130 brands grow and nonprofit initiatives that have supported many Canadian entrepreneurs. It offers free online resources, product development support, and a food manufacturing facility in Toronto. Venturepark partners with industry leaders and creates a vibrant ecosystem for CPG brands to thrive.

 Learn more at www.ventureparklabs.ca.

Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire's key businesses are food retailing, through wholly-owned subsidiary Sobeys Inc., and related real estate. With approximately $31.6 billion in annual sales and $16.4 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 131,000 people.

Additional financial information relating to Empire, including the Company's Annual Information Form, can be found on the Company's website at www.empireco.ca or on the SEDAR+ website for Canadian regulatory filings at www.sedarplus.ca.

SOURCE Venturepark Labs

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