Nestle USA is expanding its commitment to innovation in the food industry through a new partnership with Rabobank and RocketSpace to support startups for the Terra Food + Ag Tech Accelerator program.
Nestle will collaborate with Terra and other corporate collaborators to select and coach some of the most innovative and disruptive startups in the food and agricultural industry.
Rui Barbas, chief strategy officer, Nestle USA stated that the company is experiencing a seismic shift in the food industry, and their partnership with Terra by Rabobank and RocketSpace is just one way in which Nestle can play a leading role in meeting quickly evolving consumer expectations and explore new disruptive technologies and business models.
When resources of Nestle are combined with the creativity and new thinking born from the startup culture, the company can create real change in industry and best deliver on consumer needs.
From within the largest food and beverage company in the world, Nestle maintains a deep focus on innovation, leveraging the strength of its brands and power of research and development to lead the industry and meet consumer expectations.
Tackling innovation from multiple angles, Nestle also taps into new thinking from outside the organization to keep at the forefront of a rapidly changing market to deliver on its nutrition, health and wellness promises.
In 2013, Nestle launched the Silicon Valley Innovation Outpost (SVIO) in one of the most innovative hubs in the world, the San Francisco Bay Area. Here, an experienced and cross-functional marketing and technical team works with promising early-stage entrepreneurs to rapidly build, test and deploy new value-added services and solutions for their consumers around the world.
Mark Brodeur, vice president of digital innovation, Nestle stated that the goals at the SVIO include providing entrepreneurs with access to the expertise and nutritional know-how that Nestle has developed over its 150-year history.
In exchange, Nestle will have the ability to learn from and co-create with creative entrepreneurs. That is why partnerships like this with Terra make so much sense for both Nestle and those with whom the company collaborates.
Duncan Logan, RocketSpace CEO, mentioned that their partnership with Nestle builds on its 150-year history of continuously seeking ways to contribute to a healthier future, not only through its products, but in the way it conducts business globally.
Through its commitment to open innovation, Nestle is adopting and driving new progressive strategies to address the profound changes shaping the food and beverage industry today.
Terra enables innovation by connecting large global brands like Nestle with startups to work on real-life product testing and go-to-market solutions. Nestle was attracted to Terra because of the success and experience of Terra co-creators, RocketSpace and Rabobank.
Terra immerses participants in the innovation process, helps guide their products evolution and provides real-time feedback throughout pilot testing.