Three big names sign up to Givaudan’s Mista innovation platform
Givaudan, the scent and flavour company behind many of the everyday products we use, has created a new “innovation platform for the food industry.” This platform, called Mista, is described as being “more encompassing than an incubator or accelerator and aims to enable start-ups and established corporations to optimise ideas, products, people, and investments.” Now, the initiative has been given a major boost with the addition of three major new partners: Danone, Mars, and Ingredion.
Givaudan’s share price has edged up by 1% over the past week
Source: Yahoo Finance
Scott May, Givaudan’s vice president of innovation and the man behind Mista, said: “Mista, which means ‘tasty morsel’ in Sanskrit, is all about the creation of a new business model focused on product innovation and development for the food industry. Today’s food systems are so complex, and the challenges so large that no single company can address them alone, and that’s where the concept of Mista really comes to life.”
Mista’s near-term goal is to add 20 start-ups to the platform within the first year, ten of which will be located at its headquarters in San Francisco.
Mars Advanced Research Institute vice president George Graham said: “Collaboration is at the heart of our innovation approach. As one of Mista’s founding members, we are looking forward to partnering with the best and brightest to address some of the food system challenges of our time.”
Takoua Debeche, EVP of research and innovation at Danone North America, added: “Food companies continue to be disrupted at a fast pace with accelerated innovations and changes in the marketplace. To adapt and stay relevant for its current and future consumers, Danone has made growth a priority and is exploring new ways to innovate, alongside with building an agile and creative culture across functions. In such a model, connecting with our communities is a must.”
Dominion holds Givaudan in its Global Trends Managed Fund.
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