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The new program, called Mobile Futures, is designed to ignite the company's consumer connections by working with startup entrepreneurs in the mobile space. Mobile Futures will pair Mondelez' brands -- including Oreo, Trident and Ritz -- with select startups and will accelerate and scale existing mobile innovations and also incubate brand new mobile ventures in just 90 days.
"American consumers spend more than 23 percent of their daily media consumption on a mobile device," said Bonin Bough, vice president of global media and consumer engagement at Mondelez. "Yet, most marketers dedicate less than 1 percent of their media spend on mobile. This is a huge gap, and it's driving us at Mondelez International to think differently about consumer engagement and path to purchase. We are planning to invest 10 percent of our global marketing budget in mobile activations and channels across the entire consumer journey. Our goal is to become one of the top mobile marketers in the world. And Mobile Futures demonstrates how committed we are to get there."
The first phase of the Mobile Future program is for Mondelez to select startups and work one-on-one with the food company's brands. Subsequently, Mondelez brands will create and incubate new mobile ventures.
Finally, at the end of 90 days, Mondelez will pitch those new venture concepts to investors and venture capitalists with the hopes of securing seed funding.
"Mobile Futures is a first-of-its-kind program because it begins and ends with startups," said Bough. "Startups are the innovative lifeblood for the digital world and we are committed to supporting them. At the same time, the program will further drive innovation within our own organization and create a culture of 'intrapreneurship.' Out of that culture will emerge new, innovative ideas that will shape the future of mobile."
Mondelez announced the launch of Mobile Futures today at New York's Advertising Week.
The application process for startups will begin on Oct. 10 at 9 a.m. Eastern time and continue until 5 p.m. Eastern time on Nov. 9.