• Skip to Content
  • Skip to Sidebar
IU

Indiana University Indiana University IU

IU Kelley School of Business at IUPUIGo from Moment to Momentum

Venture Club of Indiana will host ‘Food Entrepreneurship’ program on 10/1

Posted on September 21, 2015 by Teresa Mackin

Entrepreneurs, investors, and restaurateurs will discuss the local food scene, opportunities for innovation and economic impact

On October 1st, the Venture Club of Indiana will revisit Food Entrepreneurship with an expanded program featuring the local innovators who are shaping the culinary economy in Central Indiana – a topic that’s only gained attention since the group first put it “on the table” at its monthly luncheon meeting last October.

The upcoming half-day program will feature Chris Baggott, who has made the transition from tech to food with Husk Foods, Tyner Pond Farms, and now ClusterTruck; Gerry Hays, founder and CEO of DinnerCall; restaurateurs Scott Wise – the namesake of the growing ‘Scotty’s’ empire – and Neal Brown (Pizzology, The Libertine and more); David King of Indiana Grown, and others.

“Indianapolis was once known as the perfect Midwestern test market for chain restaurants – but times have changed, and over the last few years our food scene has been anything but bland,” said Venture Club president Todd Saxton, an associate professor of strategy and entrepreneurship at the IU Kelley School of Business Indianapolis, where he also serves as the Indiana Venture Faculty Fellow.

“We’ve seen a boom in unique new restaurants led by local entrepreneurs, and a number of new ventures taking advantage of the ‘farm to fork’ movement in innovative ways,” Saxton added.

New trends in what and how Americans eat are creating significant economic opportunities. For example, a recent study by Food Business News asserts that nearly a third of consumers are willing to change their shopping and dining habits to find locally-produced food, a survey backed up by an estimated $11 billion in local food sales in 2014.

The food supply chain is also evolving to meet the demands of today’s online, on-demand customer. From a modest $46 billion invested in food delivery companies in 2013, venture capitalists showered more than $600 million on the delivery space last year – and investment for 2015 is on pace to easily eclipse $1 billion, according to TechCrunch.

Baggott is working to capitalize on both of these trends: Through Tyner Pond Farms and Husk, he’s a direct-to-consumer producer while also creating a new distribution model for local food; ClusterTruck, his latest venture, connects customers with their favorite food truck-inspired dishes without having to track down their curbside locales.

“There are billion-dollar opportunities in the food sector,” noted Baggott, who combines software bona fides – most notably with ExactTarget and Compendium – with his more recent foray into food as founder of ClusterTruck. “I believe ClusterTruck is one of those opportunities, by using technology to satisfy our simultaneous demand for unlimited choice and instant gratification. And looking at the activity and investment happening across the region, I also believe Central Indiana can emerge as a food innovation hub.”

Indy’s burgeoning restaurant industry is also delivering significant economic upside. Nationally, restaurant sales and employment are outpacing the overall economy; with solid population growth and a $4 billion-a-year hospitality sector, the Indianapolis market is a welcoming one for new dining options.

“Just a few weeks ago, we held our sixth annual Dig IN festival celebrating the best of locally-grown and created Indiana cuisine,” said Neal Brown, who is a founder of the event, dating back to 2009. “Every year Dig IN has grown, as we see more creative chefs and willing investors teaming up to bring exciting new additions to our community.”

Nine of ten food service firms employ fewer than 50 people, and Saxton noted that the strong churn of people, business and ideas make the food sector a highly-entrepreneurial arena.

“Food-related businesses are a growing part of our start-up ecosystem,” he said. “We invite anyone interested in local food and beverage, funding early stage ideas, and different approaches to getting your products to market to join us on October 1st.”

The Food Entrepreneurship session will be held at the Columbia Club on Monument Circle, from 10:00am to 3:00pm on Thursday, 10/1/15; the preliminary agenda includes:

  • 10-11:15: Funding Food Entrepreneurship – panel discussion
  • 11:30-1:30: Luncheon Program – “Indiana and Local Foods”  Chris Baggott, Gerry Hays, David King
  • 1:45-3:00: Getting to the Fork: Distribution, Reaching the Market  Scott Wise, Neal Brown, et al


Filed under: Entrepreneurship, NewsTagged Archived

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Additional Content

About the Kelley School at IUPUI

The Kelley School of Business at IUPUI is home to a full-time undergraduate program and five graduate programs, including a graduate certificate for professionals in healthcare; master’s and graduate certificate programs in accounting, internal audit and taxation; the Physician MBA and the Evening MBA, which is ranked eleventh in the country by U.S. News & World Report.

Categories

Search Posts

Receive Updates

Get the latest news from the Kelley School's Indianapolis programs, faculty, students and alumni delivered directly to your Inbox

Please, insert a valid email.

Thank you, your email will be added to the mailing list once you click on the link in the confirmation email.

Spam protection has stopped this request. Please contact site owner for help.

This form is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent Posts

  • Physician MBA authors book about physician burnout and coaches other MDs on their careers March 9, 2023
  • International student from Spain finds home and future at Kelley Indianapolis March 7, 2023
  • Global HR leader credits his Kelley network for paving the way for his professional success February 23, 2023
  • Former public and tribal attorney uses Evening MBA in move into business law February 15, 2023
  • Kelley School of Business to lead global physician trip to London, Paris February 13, 2023

See Archived Posts

Kelley School Faculty at IUPUI

Full list of faculty based in Indianapolis.

Indiana University

Copyright © 2022 The Trustees of Indiana University | Privacy Notice | Accessibility Help

Subscribe

Subscribe By Email

Get every new post delivered right to your inbox.

This form is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.