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7 Market awareness
Branding and packaging that are clearly based in a knowledge and understanding of how the product or range is positioned within its category is fundamental in delivering something that stands out on the shelves
8 The experience
A product’s sensory characteristics are an important part of the consumer experience. In other words, how does the product feel to actually use? Judges will be looking for a product or service that offers a satisfying user experience.
‘You can only win or learn’
9 People and team
Judges will want to see how each startup team addresses the multi-disciplinary approach that is required to build a sustainable business. Synergistic combinations of skillsets and mindsets can make all the difference between innovation that is merely incremental, or truly disruptive .
Other judges encouraged startups to send their applications to the free competition.
“Not only do you get a great podium to showcase your startup to a broad audience but also, you’ll be scrutinised by some very experienced people,” said Nard Clabbers, chief science officer at personalised nutrition startup Happ, lead of the personalised nutrition and artificial intelligence community at the Dutch FoodValley, and Startup Innovation Challenge judge.
“I know all too well that it is never too early to get an outside view on your ideas and sharpen them,” he added. “As they say, ‘Just do it’. You can only win or learn.”
Meanwhile, Michael Stott, partner at legal firm Mathys & Squire and Challenge judge, said the competition was a great opportunity for startups to gain valuable industry insights and exposure, expand their network, and have their growth strategies pressure-tested by industry experts.
“The nutraceutical and nutrition industry is a challenging landscape to navigate, particularly from an [intellectual property] IP and regulatory standpoint, and the Startup Innovation Challenge is a chance for startups to learn from their peers and receive invaluable guidance from industry leaders,” he said.
To submit your application to the Vitafoods Europe Startup Innovation Challenge, click here
