Specialty Food Magazine

When Sandwich, Massachusetts-native Caroline Cotto arrived at Georgetown University, she quickly learned that her chosen school was not known for its food curriculum. So she created her own study path—and has been following her personalized roadmap ever since. "I was dedicated to the problem of childhood obesity," she says. By combining nutrition studies, policy work, and volunteerism in D.C., she prepared to make a difference. Next came the United Nations Food Programme in Cambodia to work on rice fortification, followed by a brief stint at Tufts. Then, tech. "I pivoted to work at HubSpot and managed its Women Employee Resource Group," the 29-year-old Cotto says. She stayed for three years, then moved to Techstar, a tech incubator based in St. Paul, Minnesota. And that's where she met Claire Schlemme, on a canoe trip. The two shared a vision of food waste reduction. They founded Renewal Mill in 2016. The company utilizes byproducts of plant-based milk, primarily soy and oat, to create flour that is high in fiber and protein. Renewal Mill flours, baking, and cookie mixes have recently launched nationally at Whole Foods and are also sold as ingredients to manufacturers. Cotto is passionate about the upcycled food movement. She currently serves as president of the Upcycled Food Association, a 250-member organization of companies, funders, and others. "We need to educate consumers on what upcycled food is and how purchasing it can combat food waste, climate change, and other global problems," Cotto says. Her advice: "Don't pretend to be the smartest in the room. You need to learn from the people around you."—R.T. Juan Giraldo and Nico Estrella were childhood friends in Quito, Ecuador. Both came from families of entrepreneurs that fueled their desires to build a business. "We wanted to start a company in the U.S. because that would be the most beneficial to the people of Ecuador," says Giraldo, 33. He attended Babson to study in its acclaimed Entrepreneurship program. Meanwhile, the 30-year-old Estrella was pursuing his dream of being a professional soccer player. In 2018, the friends launched Waku, a prebiotic herbal tea with no added sugar. Giraldo is CEO; Estrella is CMO. Giraldo explains, "Ready-to-drink tea is a $7 billion category and most are loaded with sugar. We knew there was a market for a thirst- quenching, low-calorie beverage." It was also an opportunity to support the people of Ecuador. Thirty percent of Ecuadorians are farmers; most cultivating one to 25 acres. Poverty, especially childhood malnutrition, is rampant. The partners had three objectives: 1. Have a positive impact on Ecuador. 2. Find an industry where Ecuador has a competitive advantage. 3. Bring Ecuador to the world. Waku buys its herbs and spices from family farms in the Andes Mountains, paying fair trade prices. Most sales have been online during the pandemic. Waku is now ramping up retail sales, primarily in the Northeast. Giraldo's advice: "Dream big and don't hesitate to take that first step. You cannot see what comes next without moving forward."—R.T. PHOTO: RENEWAL MILL PHOTO: WAKU Caroline Cotto CO-FOUNDER, RENEWAL MILL AND PRESIDENT, UPCYCLED FOOD ASSOCIATION Juan Giraldo and Nico Estrella CO-FOUNDERS, CEO AND CMO, RESPECTIVELY, WAKU FALL 2022 17

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