Once upon a time, a business associate of mine told me that one must always keep your eye out on business opportunities which are recession proof. In this era of platforms, real-time delivery and logistics, it is incredibly easy to lose some regard for some of the basics of life which people will always need, even when they're broke or poor: toilet paper, shelter, soap, water, underwear or food.
However, for former McDonald's CEO Don Thompson, making food accessible and attractive to hungry buyers is what he knows best. After running the 67 year old, $27 billion multi-national fast food behemoth for three years as CEO and working as an corporate level employee there for over 25 years, Don Thompson looking to invest in new food concepts and businesses.
As an accelerator, Cleveland Avenue will likely be working with existing, revenue-generating businesses, helping these companies scale, increase their marketshare, prepare for a possible exit or to receive additional rounds of funding by outside firms.
This move seems to be part of a budding interest on the part of Don Thompson to run towards the frontier of the future food, exploring new business models and products. In 2015, Thompson joined the board of Beyond Meat, a vegan, plant-based meat company, with the expressed purpose of helping the company reach new customers and traditional meat eaters.
With certain reports and surveys showing that millennials on a whole are more health and nutrition conscious, funds and accelerators like Cleveland Avenue may help to create the next wave of progressive and innovative companies who are dedicated to producing quality and healthy food options.
Medvis Jackson is a curator at Kulchah, co-founder of #TheDigilogue and avid cricket fan. You can follow him @medvisjackson for his random thoughts. He primarily covers startup, tech and small business ecosystems and resources.