Givaudan offers advice to smaller prospective partners
Do you want to work with scent and flavour giant Givaudan, the company behind many of the tastes and aromas we take for granted in everyday life? If so, then Alex Bastos, the company’s global director of innovation, has some advice for you. Speaking at the Israel Export Institute’s Rethinking Food conference earlier this year, Mr. Bastos laid out his top three tips for innovative start-ups to work towards partnerships with Givaudan.
Givaudan’s share price has appreciated by 8% year to date
Source: Yahoo Finance
The first point that Bastos made was that smaller companies have to position their introductions in such a way as to make it instantly clear why a bigger company would want to partner with them. He told listeners “we are still learning. We are just going through this process the same as when we started. Please, when you come to a multinational company, do your homework and make the connection. Make it easier for us. Right on the entry point… help us find this as a win-win situation where we can see the opportunity for the innovator and also for the multinational.”
He also added that transparency was a major selling point: “for a global company like Givaudan, we must have all the information. There is no issue of you saying ‘Alex, there is some research saying that we can go this way, this is our rationale, this is where we want to go, but we don’t know this, this, and that. This is super important. The worst thing that can happen is along the way when we are already advanced is all of your pitches aren’t making sense anymore because you don’t know any of that and you don’t have that.”
His last piece of advice was that smaller partners should be willing to work to multinationals’ timelines – which are more complicated than start-ups and, therefore, harder to amend: “we need the entrepreneurs, we need the start-ups to keep following up on where we are.”
Dominion holds Givaudan in its Global Trends Managed Fund.
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