NCFIL Benefits Start-Ups + Mid- to Large-Sized Companies
December 2, 2020
Megatrends are redefining the Agricultural and Food Technology industries—trends like changing consumer habits, food safety and security, population crisis, proliferation of niche brands, volatile raw material pricing and an aging population with healthier diets all play a role.
Due to this shift, more money is being invested in these industries, and with that, more product launches are happening. While exciting, new product launches can present challenges for both start-ups and mid- to large-sized companies—and this was before the pandemic, which of course has added its own set of obstacles.
Idea to Launch: Challenges Faced by Start-Ups
Let’s look at the challenges faced by start-ups, who are striving to take their novel ideas to the next level.
- Identifying the customer and the problem to be solved
- Shifting from small, local business to national/international distribution
- Understanding the product’s market size potential and category dynamics
- Understanding unit economics and feasibility of scaling up their product
- Knowing requirements to enter the market – FTO, regulatory, management systems
NCFIL Can Help: Support for Start-Ups
Now, let’s consider how NCFIL can support this population.
- Demonstrate ability to scale up an idea
- Offer process/extraction optimization
- Generate quantities to conduct sensory panels, clinical trials, or shelf-life studies
- Produce samples to demonstrate ideas to potential investors
- Develop early estimation of costs to manufacture a product
- Help with identification of co-products – how to minimize or identify value
- Assist in green fielding a plant, identifying a co-packer, or optimizing scale up
Stalled Before Started? Challenges Faced by Large Companies
While it’s apparent that NCFIL is the perfect resource for helping start-ups ensure their success, the facility can also serve mid- to large-sized companies in many ways. Here are some of their challenges:
- New product ideas discarded due to lack of manufacturing capacity or processing capability is too large
- Co-products from manufacturing do not have a market (or the ambition to develop one)
- Leadership is risk averse: 98% and 99% failure rates on new ingredients and products, respectively
NCFIL Can Help: Support for Mid- to Large Companies
Fortunately, NCFIL can play a role in helping large companies overcome these challenges. The facility offers flexibility in manufacturing and processing new products in a low-risk format. Here’s how NCFIL benefits this population:
- Offer IP protection
- Deliver ability to produce small product batches under cGMP conditions for sampling to customers, trade shows, clinical trials, test markets
- Introduce alternative manufacturing methods or new unit operation
- Provide preliminary idea of how product will run; side stream products and potential valuation; quick supply for shelf-life studies, sensory panels, physical testing, nutritional confirmation
Work With NCFIL
Start-ups and companies seek to safely create new products and get them to market. NCFIL has the equipment, talent and partnerships to make that happen, and they offer support in all stages of product development, including product research and development, pilot plant production, training and workshops, and food industry consulting.
Are you a start-up or food company interested in working with us? We are interested in working with you and helping you successfully harvest your innovative new product ideas.