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General Mills
General Mills
General Mills (GIS) takes a two-pronged approach to diversifying its supply chain: It has a formal program that steers spending to women- and minority-led businesses, but it also directly fosters startups around its Minneapolis, Minn. headquarters.

"Working locally here in Twin Cities with other Fortune 500 companies, we've all noticed a service gap," says Diego Osuna, General Mills' senior manager of supplier diversity & development. "So lately, we've collaborated in generating startups in certain categories, because it's no longer enough to go looking for them."

While General Mills mostly limits help to providing pro bono consultations to startups, it has directly invested and become a partial owner in several fledgling local businesses.

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Last updated March 14 2008: 2:57 PM ET
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