Large food companies are losing the growth race. Smaller, more agile companies are growing at a far faster rate. As a result, the largest 25 food companies are losing market share. In response, they are acquiring some of these smaller fast growth companies.
But is there another way to accelerate top line growth for large food companies? Could they make their internal innovation process more open and agile?
We think so. In partnership with the Whistler Center for Carbohydrate Research, the Lab is proposing pilot projects for large food companies to consider. These pilot projects would introduce new approaches to innovation, based on agile strategy. The Lab piloted these approaches in the defense sector with Lockheed. We believe that same approach could be adopted by food companies, if they work in close collaboration with Purdue.
You can download a copy of our presentation here.