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By Kevin Verbruggen - Head of Innovation
I had the pleasure of presenting at the 14th Annual World Food Technology and Innovation Summit this week. The event took place in London, and attracted delegates from companies around the world – from Arla in Denmark, to Suntory in Japan.
My presentation focused upon Turning Future Trends into Reality and Success, and looked at the factors to consider before embarking upon ground-breaking innovation. It comes from the observation that many companies state that they want to launch Innovation based upon emerging trends, but often drastically under-estimate the costs and risks of doing so.
If you’re faced with that tough brief, it’s important to clarify your company’s Innovation Strategy before you embark. Where do you want to play, and how will you win? What is your company prepared to invest (both people & financial resource), and what are the investor’s attitudes to risk?
At Weetabix Food Company, we’re fortunate to have a clear and agreed Innovation strategy, and backing from our investors to invest in our innovation agenda. They’re two of the many factors which have helped us with our recent Innovation success: Weetabix On The Go breakfast drink, Weetabix Protein and Protein Crunch cereals – which recently won Product of the Year.
The Innovation Summit included an inspiring case study from the VP of Nestle Waters, and a fascinating insight into “Empathetic Innovation” at Arla Foods.
More information can be found on the Summit website: http://www.foodinnovateworld.com/event-agenda/programme-2016/