Practical Innovation recipe for successfully bringing a product from concept and ideation to launch
Please introduce yourself and your startup Practical Innovation to our readers!
Practical Innovation is a company dedicated to developing companies just like a start ups, mainly serving traditional industries within the food , food-tech and food ingredient companies. Practical Innovation is a leading innovation company of product development experts, founded in 2008. The company has a long record of success in developing game-changing products and taking them from concept and ideation to launch. We all know that the big money is in the high-tech industries. The high profits enjoyed by high-tech business is less prevalent in the food industry. Our goal is to bring this kind of prosperity to this industry.
Practical innovation is now leading the Food – tech industry in Israel by working closely with traditional food companies.
So, how does it work? A food company will approach us with the question – how can we grow? What is our next generation product? What is our growth engine? We have a process that took us almost ten years to develop that helps these companies. Practical Innovation creates for the company the ideas and build the development program and then develop the product together with the company. One of our recent launches is the Wine Water – O.VINE , a mineral water enriched with wine grape waste, anon-alcoholic beverage with wine essence.
This company approached us and we worked together to build the company’s growth engine – namely utilizing the waste product of the wine production process and encompassed a 3 month of process that included – research, formulating new thinking methods and technology, analyzing and brain storming and we present the winery with the idea of O.Vine, which was successfully launched at Fancy Food show in New York last month
How did you get the idea to Practical Innovation?
After many years as VP marketing in the biggest food companies is Israel I came to the understanding that innovation in the food industry is just a word. A lot of companies are talking about innovation but actually are only making very small changes. I understood that real innovation implies a complete new product development. If someone did it before somewhere else in the world then it is coping and absolutely not innovation.
We specialize in developing new, patented products and/or technologies that can make a big change not just in one parameter but in multiple aspects.
How difficult was the start and what challenges you had to overcome?
The most challenging thing was to convince the client that a new flavor, a new packaging or adding extra ingredient is not really an innovation. The most difficult thing was to say – innovative product is only the one that is being created for the first time . So the challenge is to get clients to change their mindset to think like a startup.
Who is your target audience?
Our audients are traditional food companies that want to reinvent their product line , create a new growth engine, with higher profitability and open new categories.
What is the USP of your startup?
Our startups is the one we are creating with our clients – food companies (and traditional industries) that reinvent categories and launch innovative products internationally. We are the first company that brings, for each of our clients new and innovative ideas that in a short span time is develops into successful products within the global arena.
Can you describe a typical workday of you?
Our days are full with brain storming and a lot of creative thinking. Since we are working with a wide range of categories we can start or day with snack moving to beverage at noon and chocolate or bakery in the evening.
Our days are full with new technologies, innovative ingredients new process, we are studying new areas daily. Our days in general are very exciting.
Where do you see yourself and your startup Practical Innovation in five years?
We want to change the food industry creating with each of our clients next-gen products. And we plan to teach food and food ingredient companies how to reinvent their categories with healthy, indulgent products offering great taste and new functionality in every food category. We also would like to penetrate the European market
What 3 tips would you give other Start-up founders on the way?
Courage, determination, creativity.
More information you will find here
Thank you Tal Leizer for the Interview
Statements of the author and the interviewee do not necessarily represent the editors and the publisher opinion again.