The Hershey Company has announced it intends to serve as a sponsor for the 2026 Land Grant Startup Launch Competition, an innovative interdisciplinary collaboration between Penn State's Smeal College of Business and the College of Agricultural Sciences.
Hershey's is the first corporate partner to commit to the competition, which will focus on fostering innovation in food and agriculture. Applications are being accepted until Feb. 1.
The competition will support early-stage startups focused on sustainable business practices. Early-stage companies with a clear vision and the potential to transform the food and agricultural landscape are encouraged to compete.
Rachel Grunberg, Hershey's head of environmental sustainability, said her company recognizes the critical need to encourage sustainability in the food and agriculture sectors.
"Championing sustainably grown food is essential as we face disruption from climatic changes. This opportunity shines a light on the future of sustainable food and the role of innovation in resilient farming systems, ensuring continued moments of goodness for generations to come," Grunberg said.
Winning startups will receive a $50,000 investment from the Garber Venture Capital Fund to accelerate their growth and impact. The investment is intended to support scaling the business, furthering research and development and contributing toward team expansion.
The Garber Fund is housed within Smeal's Farrell Center for Corporate Innovation and Entrepreneurship. Smeal's Center for the Business of Sustainability and its Office of Impact Entrepreneurship is also supporting the competition.
"Hershey's support of the inaugural competition demonstrates the company's commitment to strengthening the agricultural industry through innovative and sustainabile business practices," said Travis Lesser, director of the Center for the Business of Sustainability.
Teams must include at least one enrolled undergraduate or graduate student and be a formative-stage business entity (e.g., corporate or LLC) able to enter into an investment agreement. The business must also meet two of the following criteria:
- Formally organized within the last seven years
- Has a product or service in testing or pilot production
- Pre-revenue or under $1 million in trailing 12-month revenue
- Actively pursuing commercialization and profitability
