May 9, 2022 - Business

Chicago will host future-of-food summit

office chairs and room
A food innovation lab in Chicago. Courtesy of Hazel Technologies

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.
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