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Webinar Open Innovation

Last Thursday, June 18th, we added another edition to our series of international webinars as we delved into open innovation in the food industry, to discover and analyse the benefits of startups and corporates working together.

In our latest episode “Accelerating the growth of the Food Industry: The power of open innovation” we were lucky enough to host Sejal Ravji, Director of Open Innovation at Calidad Pascual ; Maria Paula Rios, Director of Innovation and Strategy at Team Foods and José Luis Cabañero, CEO and Founder of Eatable Adventures, who shared their visions and insights from their professional experiences with open innovation.

 

 

 

Here are the key takeaways from the webinar in case you missed it:

 

Constant changes in the agri-food sector

For Sejal Ravji, one of the changing aspects in the agri-food space is the introduction of technology, and with it comes the need to develop innovation quickly and efficiently. “Technology is accelerating all changes. The great challenge now is to predict where the changes are going and where value is generated in the ecosystem. It is in this space where innovation is born”, he stated.

José Luis Cabañero, who said that there has been a wave of disruptive new startups in the past few years, commented that “they are daring to develop new models with technology, such as artificial intelligence, which can be very beneficial for companies who want to present a unique and differentiating product.”

For María Paula Ríos, “Big companies have to start looking outside of their own teams to challenge themselves. We have begun to realize that those companies, which have a longer history, have to look beyond where there is greater knowledge and to work hand in hand with other agents,” said María Paula Ríos.

 

Corporations and Startups: a profitable collaboration

 

For both Sejal Ravji and María Paula Rios it is essential for a corporation to choose the right startup to work with carefully but the most important thing is to know what the objective of the collaboration is. According to the Director of Open Innovation at Calidad Pascual, the purposes of a company can be many: “What new technologies do you want to incorporate? What new markets and businesses do you want to reach? Do they need a venture capital fund to invest in other businesses?” He stated.

As for José Luis Cabañero, “it is essential that both parties understand the limitations of these relationships. Startups have to understand the rigidity of corporations, just as these companies must understand the fragility of startups. ”

 

Startup & corporation collaboration

Collaborations between startups and larger companies are not as simple as one may think, due in part to the structural differences and clashes in business culture between both parties. However, if a mutual commitment has been established the end result can be promising.

“I have spoken to many startups, and we know that collaborating with a corporation is not easy because there is a different speed involved. In a company, the processes are usually slower than in a startup,” Sejal Ravji acknowledged.

For María Paula Ríos there is no single collaboration model to choose from, it all depends on the characteristics of each company, but what is common to all models is the need for flexibility on both sides. She stated that there must be full cohesion between both teams and this is exactly where the success in her companies open innovation strategy lies “What we want is to be able to work with a startup since it has a differential knowledge that contributes value and enhances our products. Only by doing this will we get to the next level, together.”

 

KPI´s in open innovation

José Luis Cabañero highlighted two classes of KPIs to measure the effectiveness and the final result of open innovation between startups and larger teams: there are KPIs that are associated with business growth; while there are other KPIs that are more difficult to measure such as the number of products launched.

Sejal Ravji and María Paula Ríos agreed. The Director of Open Innovation at Calidad Pascual added that “when the corporation is clear on its objective, it is easier to identify and measure the KPI”. The Director of Innovation and Strategy at Team Foods also added that “if there is a project that does not generate value, it won’t survive”

 

 

 

 

Missed this webinar? Check out the video 

 

 

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Accelerating the growth of the Food Industry: The power of open innovation

Accelerating the growth of the Food Industry: The power of open innovation

Open innovation is a formula that is gaining increasingly more strength and traction as a model for attracting talent, technology and disruptive business models. By embracing open innovation companies can tap into new powers to transform their organizations, reaching objectives that would otherwise be unattainable without the use of these methodologies.

One of these methodologies is what we call Corporate Venturing, the streamlining of innovation processes within larger corporations, through the introduction of agile startups in the development of new products. It offers larger teams the opportunity to closely understand the needs and demands of consumers and provide untouched know-how for a more flexible and efficient adaptation to said needs, in both production and distribution capacities.

We held our own webinar on Open Innovation with our partners Eatable Adventures, who invited some of the leading companies in the industry such as Mondelēz International and Sainsbury’s. In the insightful webinar episode Gil Horsky, Innovation Director of SnackFutures from Mondelēz International, and Milena Lazarevska, Head of Future Brands at Sainsbury’s explained the advantages of working with startups from their direct experience. Horsky acknowledged that “working with startups is very important,”adding that within the last few years it has been growing as a “top priority”. Lazarevska agreed, stating that establishing agreements with startups allows corps to gain a quicker turn around on product tweaks and consumer needs.

At Eatable Adventures we understand the importance of open innovation and would like to delve further into this topic to gain even more insight into the impact of corps working with startups and vice-versa. We have the pleasure of working with two of the largest corporations in the food sector: Alianza Team® and Calidad Pascual

 

Alianza Team® and their experience in the lipids sector

Alianza Team® a leading Colombian company in the food sector, is committed to the well-being and future of food and works to develop lipid-based food-tech products and solutions with high nutritional components for a range of food spaces like bakeries and restaurants.

Alianza Team® aims to nurture a better future and has established three business units: Team Foods, Team Solutions and Breden Master. Located in Colombia, Alianza Team® also boasts a significant presence in Chile and Mexico while working on developing ambitious expansion to wider markets. They are currently launching their next mission in a call for projects; Hack the Food System, which focuses on seeking the most disruptive foodtech startups across the lipids ecosystem which are capable of providing innovative responses to the new challenges we face in the food system, including new processes and technologies for nutrition improvements, food functionality and production sustainability.

Alianza Team® invests in startups through albora ™; its corporate private equity fund.

 

Calidad Pascual: building the future of food

Calidad Pascual aims to “Give their all for the future of food”. A company with a strong family essence, led by solid values and a certain sense of transcendence, which provides consumers with food products and services that help improve the well-being of society.

Pascual Innoventures is a Calidad Pascual open innovation vehicle to immerse yourself in the entrepreneurial ecosystem and create alliances with startups that share their philosophy; all while anticipating global food needs. For them, this philosophy is fundamental; a culture that begins with the premise of creating value wherever they can. Its about giving the consumer a memorable experience and, at the same time, contributing to the survival of our planet.

 

In Eatable Adventures next webinar “Accelerating the growth of the Food Industry: The power of open innovation”, which takes place next Thursday June 18th at 17:00 (MAD), 10:00(BOG), 11:00(SCL), we will be joined by Sejal Ravji, Open Innovation Director at Calidad Pascual; María Paula Ríos, Innovation & Strategy Director at Team Foods and José Luis Cabañero, CEO & Founder of Eatable Adventures, to share their companies experiences in open innovation.

SIGN UP HERE!!

 

 

 

 

 

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Webinar Riding the Plant-Based Wave: Leading the Food Revolution

On Thursday June 4th, we launched the latest edition of our series of international webinars on innovation in the food sector, with an aim to discuss the most relevant initiatives facing our food system today.

In the webinar “Riding the Plant-Based Wave: Leading the Food Revolution” we were joined by industry experts Nir Goldstein, Managing Director-Israel of The Good Food Institute; Elizabeth Gutschenritter, Managing Director, Alternative Protein at Cargill and José Luis Cabañero, CEO of Eatable Adventures, who shared their visions and insights into the present and future of alternative protein.

 

 

Nir Goldstein explained that one of the main goals of The Good Food Institute is to work on increasing the production of plant-based meat substitutes, to ensure they offer sustainable products that mimic the taste and texture of their animal protein counterparts. 

Elizabeth Gutschenritter stated that for Cargill an important objective is to offer clients and their customers food in a more sustainable and safer way. “We work throughout the supply chain to meet this need, and we have seen that protein consumption has increased worldwide for years,”.

 

Here are the key takeaways from the webinar in case you missed it:

 

Increased demand for plant-based products in recent years

For Nir Goldstein, there are four main reasons for this increase: economic, health, environmental and animal welfare awareness. According to his forecast by 2030, these products may occupy 10% of global meat market consumption. “This sector has attracted more investment this year than in all of last year,”.


Elizabeth Gutschenritter agreed and added that this increase resides in the interest of consumers demanding more sustainable and healthy products on shelves, although 93% still continue to eat meat.

Startups as an innovation engine

Innovation continues to be vital for corporations which increases the need to collaborate with startups, which offer more agile mindsets and increased ability to adapt faster and more efficiently to consumer demands, essential if wanting to achieve competitive advantages in an often crowded market.

For José Luis Cabañero, mutual support between corporations and startups is imperative to satisfy new consumer demands, adding that innovation and speed are the most important tools today to survive in the market.

 


Success stories of collaboration between startups and industry in plant-based

One of the collaborative success stories that stands out for José Luis Cabañero concerns the University of Berkeley, which launched alternative protein training programs along with incubation programs for startups in the sector

“There have been a lot of investments in the sector, especially in marketing and in the R&D departments in cell-based and plant-based. Our partners are helping us to bring the product closer to the market ”, acknowledged Elizabeth Gutschenritter.

For Nir Goldstein, the best success stories come from experience and learning that one internalizes when discovering how to move forward in the future. “There are a significant number of products that are in the initial phase of flavor texture adaptation, but are not developed on a large scale. Startups must move from pilot tests to more industrial developments to find out if they like their products on the market or not. ”

 

Effects of the pandemic on the plant-based boom

Nir Goldstein stated that despite the effects of the pandemic we are still seeing startups securing significant investments which represents a positive trend in terms of funding and growth. “For example, Impossible Food got a half-trillion dollar investment during Covid-19. We see growth in the food sector of 200% that is partly driven by the consumption of alternative protein products,”. 

Elizabeth Gutschenritter predicts that plant-based consumption will increase in the coming months. Why? Consumers are seeking healthier and more sustainable-driven food and this will remain post-covid. To keep up with the squeeze of new consumer behaviour, companies are developing and launching fast solutions, like KFC in China.


 

 

Missed this webinar? Check out the video 

 

 

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Webinar Israeli Startups Showcase: Solving New Challenges in the Food Industry

We recently launched a series of international webinars with the aim of providing a scope of insights from the main pioneers of the food tech industry where we cover the most pressing challenges our food system now faces amid the current covid crisis. In our latest episode we travelled (virtually!) all the way to Israel where we hosted our webinar in collaboration with the Economic and Commercial Mission in the Israeli Embassy in Spain and the Israel Export Institute.

 

We were joined by four of the most disruptive startups across the Israeli startup ecosystem as we dug into the various solutions young companies can offer across a range of different disciplines during this time through the application of their innovative food technology:

 

 

Evigence sensors 
This innovative startup provides food freshness information through a small visual chip device which enables the user to see blind spots in the supply chain and can help reduce food waste and offer suppliers and consumers alike ease of mind regarding the safety of  food amid the current pandemic. The solution can be applied across the complete supply chain from the producer, to the supplier right to the end user. It’s easy to use and facilitates freshness indication of a range of food stuffs including meat, fruit and even frozen foods. The company have worked with a number of important brands like Mcdonalds, where they designed a number of sensors specially for their frozen buns so they knew when and how to store and serve them.
COVID: In times of covid its important that the full potential of food is activated. Consumers are becoming more cautious about the quality of food they eat – how do they know it’s fresh? How do they know it was stored correctly? This solution offers an easy to use and deployable solution that applies transparency across the food supply chain  including remaining shelf life. The added advantage is that it also helps promote more sustainable operations, as sustainability is more on the agenda than ever “waste is becoming even more of an issue”..”using our sensors you can reduce waste dramatically”.

 

Kitchen robotics
Traditional restaurants haven’t changed dramatically for the last 300 years, gathering ingredients, mixing, chopping, cooking, cleaning…but even before covid first buckled the food industry we started to see a shift in the way restaurants were running their operations. How? Many companies were turning to delivery options like Ubereats and Grubhub, which in turn borned a new trend: dark kitchens. These are off-premise, delivery only operations and Kitchen Robotics was developed in the midst of this shift, offering an automated robotic solution to create a variety of dishes.
The startup offers a four-way solution:
1.collecting 2.cooking 3.serving 4.cleaning with Its hardware capable of creating between 30 to 40 dishes an hour.
“If we solve the issue for dark kitchens the solution will be suitable for other industries as well”
COVID: “Almost every dining solution is trying to make a shift towards dark kitchens”. As restaurants close their doors many owners are looking for new business models to keep afloat amid covid, and this startups solution offers the answer to delivery-only, off-premise and take-away devoted business. Restaurant robotics offers a range of benefits including more efficient and automated operations, reduced labor necessity and increased consistency which is perfect for not only restaurants but other players in the food space like supermarkets, universities and hotels.

 

SRP analytics
In the business of grocery this startup is providing big data solutions to manufacturers. When you look at local neighbourhood stores you’ll notice they are lacking one thing: technology. They don’t have anything to manage consumer or manufacturer relationships. SRP analytics noticed this white space in the market and built a three-way platform that connects all the stakeholders in the supply chain. The platform collects information like recommendations on what goods the store owner needs to buy or what promotions manufacturers need to follow to sell more orders, and transforms them into insights. Utilizing this technology makes their day-to-day operations easier and helps create new revenue streams.
COVID: With more consumers in lockdown we are seeing an increasingly more digital world. Going online offers consumers a different approach to ordering food. “E-commerce is the king for consumers”. This solution offers the deployment of “different processes with minimal physical interactions.” With larger retailers suffering from extended delivery times, this app provides smaller local stores with more digital abilities and more options for consumers to avoid leaving the house.

 

Vertical Field
The vertical farming market is growing into a 10 million pound market with increasingly more investment interest and limited spaces for land to deal with overpopulation. This solution offers businesses the chance for a greener transition.
Vertical field has created a vertical farm in a 40 feet container which is controlled by an IT system to help optimize the plants environment. They shorten the supply chain and reduce intermediaries in order to bring the agriculture directly to the retailers and end user. Through this food supply chain short cut, they offer an easy to use platform which facilitates the complete management of the farms and allows establishments like supermarkets a long arm in price and quality, without the need to worry about weather conditions or logistics.
COVID: During the current climate the food supply chain has been frozen, with labor shortages and transportation halted, this solution offers a “grow your own” alternative. You know that the food you will consume has been produced safely and cleanly avoiding human touch and ensuring proper sterilisation. They avoid the use of pesticides and therefore provide fresher and cleaner produce which offer higher nutritional values. It also offers a more sustainable “touch”; these solutions help lower waste to roughly 5-10% for a more efficient supply chain as well as higher yields and constant supply.

 

Missed this webinar? Check out the video 

 

 

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Riding the Plant-Based Wave: Leading the Food Revolution

Identifying plant protein as a major source of future foods is what we like to call the protein revolution: perhaps because the way in which we produce our protein cries out for change, and during the current covid crisis this has become increasingly more important.

The underlying sustainability, efficiency and food security of our food supply chain has been somewhat of a tightrope throughout the current pandemic. Despite the EU declaring that there is a lacking of scientific evidence to prove the virus is transmitted through food, the UN has expressed concern over the link between extensive livestock farming and the virus, in part due to the increased demand for animal-based foodstuffs which is projected to double by 2050.

 

Protecting our planet and minimizing damage to its ecosystem has been an important part of our agenda for many years, but since the outbreak of the covid19 increasingly more consumers or seeking more sustainable-based solutions as well as “better for you” products that offer some advantage to their health and well-being. The European Commission has just pledged 10 billion euros to help further our green transition with the aim of solidifying and advancing the researching of alternative foods.

“This is a major step forward. Alternative proteins, such as plant-based and cultivated meat, play a critical role in Europe’s transition to a more sustainable, healthy and just food system ”, acknowledged Alexander Holst, GFI Europe Policy Manager of the European Commission.

Plant-based; a booming market:

In recent months, the need for new, innovative startups with disruptive solutions have spiked. For example, plant-based pioneers like Just and Grounded Foods have increased their demand from food producers. “The alternative proteins industry was already a hot market before covid-19 hit. My prediction is that these terrifying times will propel the sector’s growth even faster, ”says Veronica CEO of Grounded Foods.

In the sector of cultured meat, the barriers come in the forms of reproducing the taste and texture of  the “real” thing and then commercializing it at a reasonable price. Some cell-based meat producers estimate that the COVID crisis will boost this type of alternative production.

Future meat technologies, the first company to open an industrial farmed meat plant, has announced that it will sell its technologies to the protein industries in order to reach commercialisation. In addition, a recent article from the University of Maastricht reported that consumers are willing to pay more for this meat. 

Large companies are showing great interest in getting a foot in the plant-based door. Just look at industry pioneer Cargill, which is focusing on marketing alternative products in the US and China, two countries with huge consumer potential. The brand announced an investment of up to $100 million in food tech startup Puris back in 2018 and has since benefited from this partnership with the dwindling production of pea protein. Cargill has also invested in the “protein of the future” with fundings in cell-based meat-producing startups like Aleph Farms and Memphis Meats. 

 

As you can see, investments in alt protein startups has spiked in recent years with larger names aching to be a part of the new protein revolution. And the movement continues, Swiss fund, Blue Horizon, has just acquired 35% of Spanish startup Cubiq Foods. This just goes to show that the plant-based wave isnt only affecting larger countries like the US or Asia but even Europe, and seems like even consumers and investors want to be a part of it

 

 

In our next webinar “Riding the Plant Based Wave: Leading the Food Revolution“,which will take place on Thursday, June 4 at 5:00 p.m CET., we will be joined by Nir Goldstein, Managing Director Israel at The Good Food Institute and Elizabeth Gutschenritter, Managing Director Alternative Protein at Cargill who will offer their insights into the world of plant-based and the companies leading this new food revolution. Secure your place!

 

SIGN UP HERE!!

 

 

 

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Israeli Startups Showcase: Solving New Challenges in the Food Industry

One thing that the COVID19 crisis has undoubtedly highlighted is the need to build a more resilient food system. These learnings have been uncovered throughout the crisis due to new pressures at labor level, obstacles with goods transportation and logistics and stock breaks in supermarkets across the globe. This panorama of pressures and tensions are provoking some irreversible changes in our consumers needs and behaviours. Users are becoming increasingly concerned about the transparency of goods; where they come from, how they are made and the way in which they are delivered.

 

The question is; how can we improve our food system in order to adapt to these recent challenges posed to us by the post-COVID era?

The Israeli entrepreneurship and innovation ecosystem is the second most renowned in the world, coming closely behind Silicon Valley of course. During these times, its ecosystem has been offering us various solutions to adapt to this new reality by applying food technology across the board:

More sustainable production systems:

During the current climate its almost imperative that we require a more sustainable production system that ensures the right production and supply of food without harming the planet.

Established in 2006, Vertical Field aims to transform the way we consume food and make shifts in the food supply chain, which shorten the distance from the consumer to the edible plant while also largely removing transportation expenses. The young company brings all the benefits of plants into the urban ecosystem including air and noise filtering, waste reduction, as well as pesticide-free and naturally bug-free plant walls. They are now developing a smart farming technology that allows for the integration of nature into our urban lifestyle – in both indoor and outdoor environments – while also enhancing human health and environmental conditions in urban settings.

Facilitating food delivery:

Technology can greatly facilitate management when delivering products to consumers.

Kitchen Robotics specializes in the development of automated programmable cooking appliances for commercial kitchens. They focus on automating the cooking process for delivery only kitchens (AKA “dark kitchens”). These refer to food that is prepared at seperate takeaway locations rather than a restaurant, and is currently the preferred way for minimizing contact between clients and operating staff. This solution is ideal for multiple types of cuisines such as Italian, Asian and various other fast casual markets. The hardware is easily deployable between locations, and integrated with multiple delivery service providers that operate across international markets.

SRP Analytics is a mobile-first merchandising platform which revolutionizes relationships between FMCG brands, small retailers and consumers to increase sales, reduce costs and improve loyalty. The SRP platform helps brands and manufacturers regain market leadership, as well as providing the segment of small grocers with similar tech and digital capabilities as those of large retailers, all accessible from a mobile app. SRP is currently working with leading food manufacturers and distributors in Israel which are using SRP’s unique platform on a daily basis in more than 1,500 stores. And guess what? The use of SRP has proven to increase the revenues of both parties by 10%!

Avoiding food waste:

New food preservation and freshness control technologies can help us minimize food waste.

Evigence Sensors is a startup solving the challenges of the freshness lifecycle in the brand-through-consumer delivery chain. By moving away from the antiquated and arbitrary use-by-date system and developing the next generation of visual freshness sensors, they empower handlers and users to make far more informed decisions as to the freshness of their products, which helps reduce waste and save money.

 

In our next webinar “Israeli startups Showcase: Solving New Challenges in the Food Industry” in collaboration with the Economic and Commercial Mission in the Israeli Embassy in Spain and the Israel Export Institute, we will delve into these solutions and how they help to solve the next challenges that we face from the food system.

 

SIGN UP HERE!!

 

 

 

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Webinar Accelerating food growth: the power of open innovation

We recently launched our series of international webinars where we delve into the main challenges facing our food system during the crisis and welcome some of the most disruptive companies in the foodtech space to offer their insights and solutions

 

This week we were joined by two companies at each end of the value chain; Mondelez International  as a manufacturer and Sainsbury’s as a retailer, in our latest webinar episode  “Accelerating Food Industry Growth: The power of Open Innovation“. We hosted Gil Horsky – Director of Innovation Snacks Futures at Mondelēz International and Milena Lazarevska – Head of Future Brands at Sainsbury’s who offered insights into the keys to collaboration between corporates and startups, as well as the plethora of benefits for both sides. 

 

At Eatable Adventures we believe that startups are one of the main agents leading the new food revolution, as the food system is changing so is consumer demand, and during the current crisis it seems to be happening at unprecedented rates. To properly embrace these new challenges and offer viable solutions powering open innovation between corporates and startups is an efficient way to whether the shifts appropriately.

For Gil Horsky working with startups is “very important” and has been “growing as the priority in the last few years”.

 

Here are the key takeaways from the webinar

 

How companies engage with startups

 

There are a number of ways that startups can engage with corporates across the food chain, including through technology advancement, investments and licencing agreements.

Sainsbury’s works with startups “across the business” relishing the search of more distinctive brands to add to their product portfolio. Being the second biggest retailer they offer one of the first opportunities for commercialisation and market traction to new companies through their Future Brands initiative which scouts and incubates new brands.

 

Positive outcomes from startup/corp collaborations

 

Collaborations are win-win as corps attract more customers while offering incremental sales for young companies.

While corps add value in the form of investment and R&D support, and just generally tapping into corporate knowledge, startups help address a consumer pain points. Just like Sainsbury’s, it can help establish you as a destination for more exclusive brands as they offer out-of-the-box thinking and refreshing new perspectives. Milena Lazarevska stated that the real benefit is how efficiently they react to consumer feedback and then “how quickly they turn around a new idea”. 

“Exclusive agreements with startups lead to benefits for the corps such as consumer attraction and rapid answer to consumer demands” – stated Milena Lazarevska.

 

Working with startups in a crisis

 

The key to working with startups during this time, as Milena Lazarevska stated is to “be a good partner” – be flexible where possible and offer more preferential payment terms, or just be there to help with in issue if you can. It’s important you show you are committed to your partnership and that you are a trustworthy brand that doesn’t run away when the going gets tough.

Gil Horsky said when working together ensure you “set up the relationship in the way you have a big chance of success” – be clear on your objectives, KPIs and future plans. Transparency is the biggest gift – be honest with the startup, if their idea isn’t viable, don’t waste their time. 

Covid has accelerated a shift in trends and companies now need to respond and adapt faster than ever. Trends currently making waves amid covid19 include immune boosting, e-commerce, well-being, food safety and traceability and digitisation across the supply chain. Solution? Find the relevant startups that can help you accelerate these trends in your company. 

Gil Horsky said it’s okay to ask for help in a crisis – reach out to the ecosystem and scope the startups already working on potential solutions. Mondelez recently launched a challenge scouting startups working on antimicrobial surfaces for their packaging as consumers look for safer to eat products.

Startup contributions

 

How do startups valuably contribute to corporations? Sustainability remains an important issue to be addressed across the spectrum as larger companies become increasingly more responsible, but in order to create a more efficient supply chain corporations must rely on the efforts of the smaller brands they work with for more sustainable operations and incremental improvements to help the planet. Sainsbury’s aims to go net zero by 2040 and as Milena  Lazarevska stated they require “the help of startups in this effort.”

As larger brands currently struggle from staff shortages and logistic constraints smaller companies hold access to an alternative supply base which has offered them a new wave of visibility. Consumers are now interacting more with new brands thanks to increased online presence and bigger in-store baskets. As Gil Horsky said the “inspirational” and “cultural” shift that smaller teams can contribute to corporations is often overlooked. Working with startups allow companies to experience a dose of motivation when they work with more agile minded entrepreneurs and see a product being created and marketed to a supermarket shelf in less than a year.

 

 

Missed this webinar? Check out the video 

 

 

 

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Accelerating Food Industry Growth: The power of Open Innovation

It has been several weeks since the coronavirus disrupted the global economy, and almost all businesses on the face of the earth including all facets of the food industry. There is no doubt that the changes we are experiencing are here to stay. Let’s think of the virus as a catalyst for the transformations already taking place. As a catalyst for innovation. Not only in the economy, but in the food industry, too.

 

 

Is your business model going to remain the same even when the pandemic ends? Will the products you market be the same? And the way you market them?

Your action post-crisis have to start taking shape even today. Flexibility, creativity and collaboration should all be part of your strategy, starting yesterday, it might be the glue to keep your company together and help you come out even stronger than before.

What collaborations exist for us as large corporations?

 

Undoubtedly, there are collaboration with startups. Companies must explore what is called Open Innovation or more specifically Corporate Venturing, where the startup agent is seen as an opportunity rather than a threat. This includes the incorporation of new technologies and external ideas to support your own business and increase your competitiveness in the market. Open Innovation not only encourages creativity within corporations, but also helps reduce internal investment in the R&D process by obtaining new knowledge from external sources.

 

 

Some corporations, such as AB Inbev, which have already collaborated with startups from their investment arm ZX Ventures and which boasts a $1 billion investment, already recognizes the great contribution that working with startups can offer, which include greater agility and increased focus on the consumer.

When established corporations form alliances with startups, problems find solutions. Startups are essentially looking for the “pain” point to solve.

At Eatable Adventures we firmly believe in the strong synergy between startups and large corporations. Generating this type of alliance is the best way to drive corporate innovation and keep it alive. Its something fundamental in these times of crisis where only reinvention and innovation remains.

We understand that the key is to combine agility and flexibility and those are characteristics that mold the startup world, together with the experience and vast resources of corporations it’s a win-win for everyone involved. At Eatable Adventures we help organizations understand the complexity of new companies and select the best approach for successful partnerships.

Together with our clients we have managed to reduce their R&D costs, generate better knowledge management, reduce the launch times of new products, reduce manufacturing costs, incorporate new technologies that shorten production processes and open new distribution channels, all while increasing financial performance. We have carried out acceleration, incubation, scouting and Venture Building programs. All the tools that help us drive and sustain innovation over time. 

It is clear that the future we imagined is not the future to come, and it is now up to us to create it ourselves There is a phrase that summarizes this article which is: “When there is a storm, the little birds hide, but the eagles fly higher.” .

 

Don’t miss our webinar on “Accelerating Food Industry Growth: The power of Open Innovation” next May 21st, in which we will discover the power of Open Innovation and the different tools that food companies are promoting and contributing to their growth. Learn from top pioneers of the industry including Sainsburys and Mondelez who will offer us valuable insights into their learnings during this time, we will host Gil Horsky, Director of Innovation SnacksFuture at Mondèlez and Milena Lazarevska, Head of Future Brands at Sainsbury’s who reveal their secrets to the win-win of working with startups, including the tools to help companies boost growth to adapt both quickly and efficiently with ensured optimized visibility for your brand. Dont miss out, sign up

[button link=”https://zoom.us/webinar/register/WN_AkPk9ahVT5aziOFM4MukxA” type=”big” color=”silver” newwindow=”yes”] SIGN IN HERE[/button]

 

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Webinar The rise of D2C Food Startups

Last May 7th we celebrated the first of many in a series of international webinars with the aim of providing our community with opinions and insights from the main leaders in the food sector, covering the most relevant topics facing the industry at the moment. 

 

In our first webinar we had the pleasure of hosting two of the most relevant agents in the food industry, to discuss and share insights on a business model that is here to stay and the role that food startups play in its propagation: Direct-To-Consumer. 

 

 

 

In the “The rise of D2C Foodstartups” Emna Neifar, Chief Commercial Officer at Cortilia and Ivan Farneti, Founding Partner of Five Seasons Ventures, shared their visions and perspectives with José Luis Cabañero, CEO of Eatable Adventures, on the present and future of the D2C model.

For Emna Neifar, the model is “fascinating in terms of the amount of data these models provide and how they help us obtain fundamental insights for daily decision-making applied from a new product to new features of the service offered.”

“Direct to consumer food has managed to do well for businesses and well for society” these were the words of Ivan Farneti, who emphasized the lack of flexibility of large global corporations to adapt to this new reality and also stressed the opportunity that this now represents for startups.

José Luis Cabañero added that this growth in D2C models is a trend that has already been recognised and embraced by Eatable Adventures: the “food industry is becoming what the internet was 20 years ago and is a tremendous set of opportunities lane ahead for the companies that take the step and go forward “

 

Some relevant insights from the webinar

 

Defining D2C models and how startups are innovating

 

D2C models are the answer to a now more demanding consumer: It is delivered through storytelling on things like origin, process, environmental & social impact.

In these models the service part is just as important as the product part: this will make a resounding difference with competitors.

They have contributed a lot of techniques and mindsets from the digital world into the physical. 

We can highlight 5 types of D2C models; from the most engaged to the least: DNVB Digital Native Vertical Brands (e.g. Butternut Box), DVNR Digital Vertical Native Retailer (e.g. Cortilia), D2C as a secondary channel (e.g. Soylent), selling in big digital platforms (e.g. products in Amazon), social media awareness creation (e.g. Impossible Burger).

Benefits and barriers of D2C models

 

A great benefit is the ability to offer high traceability and freshness: Direct means a shorter supply chain. In the current situation it has offered consumers extra confidence on where their food is coming form.

They allow us access consumer information in an era where data is essential: “Optimization will become a religion” according to Ivan Farneti.

“The experience is 10 times better”, because the flexibility of startups has allowed them to develop services with a real focus on the consumer.

Startups overcome consumer mistrust barriers by developing a solid relationship with producers, creating consumer communities, and applying the correct communication.

 

How is COVID19 affecting the development of these models?

 

These models have gained market share in recent months.

The experience of convenience and quality will have an inelastic effect. People who have used these platforms for the first time will use them again in the future.

D2C Food Startups have applied three different phases: React, Adapt and Disrupt.

 

Missed this webinar? Check out the video 

 

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