DoorDash Launches Accelerator Program for Early-stage Startups and Local Entrepreneurs
Although best known as a meal delivery app, DoorDash launched its online grocery and convenience store marketplace called DashMart in 2020 to give users increased access to packaged snacks, beverages, pantry items, and more. to other household essentials and provide local businesses with an additional channel in which to sell their products.
Describing the DashMart service, the company said: “On DashMart, you’ll find thousands of convenience, grocery and restaurant items, from ice cream and chips to cough medicine and dog food, to spices and packaged desserts. .”
Speaking on the success and consumer adoption of DashMart during the company’s fourth quarter 2021 earnings call, DoorDash co-founder, chairman and CEO Tony Xu said the company had experienced strong traction and recurring buyer behavior.
“On DashMart, we really like what we see. As far as merchants go, this is critical infrastructure for many of them, either to expand into new geographies or to scale at different opening hours. And so what we’re seeing is really DashMart over a fairly long investment time horizon… What we’re seeing is there’s a lot of demand for them,” Xu said.
DashMart currently supports more than 400 local and regional growers nationwide, according to the company.
Ariel Barbouth, founder and CEO of empanada brand Nuchas, which sells its products through DashMart, said: “[With DashMart] OWe are able to reach new customers and diversify our revenue streams effectively.”
Under the acceleration program, DoorDash said it will select 50 local food entrepreneurs in key markets including New York, Chicago and the greater Washington DC area. Selected candidates will then participate in a six-week, live, self-guided course covering key business areas including supply chain management, wholesale supplier relationship management, cash flow management and business development. Business.
Participants will also receive a $5,000 grant to support their business, be able to access marketing and sales support from DoorDash, and be guaranteed to sell their products through DashMart.
Eligible applicants for the program include companies actively operating a local packaged food business for at least two years in New York, Chicago, or Washington D.C. with twenty or fewer employees, and currently less than $1 million in revenue for the financial year 2021.
“Local businesses generate substantial economic returns for the communities in which they thrive, while creating notable employment opportunities for residents. By developing the DoorDash Accelerator for Local Products, we are equipping aspiring entrepreneurs with the educational capital and to become a wholesaler-loan and create an even stronger relationship between local businesses and consumers residing in the community”, said Tasia Hawkins, social impact program manager at DoorDash.
At the end of the six-week program, DoorDash will commit to buying and selling products from participating entrepreneurs through at least one DashMart location.
DoorDash Restaurant’s Chief Advisor, Chef Stephanie Izard, who helped develop the accelerator program and launched her line of consumer packaged goods, This Little Goat, on DashMart, said: “This is a full circle moment where I was able to help shape the program for this inaugural cohort, especially as I experienced the challenges of launching a packaged product first hand – including creating a distribution plan and coordinating with manufacturers”