Think of it as a food industry Dragon’s Den: an entrepreneurial program aimed at supporting companies which are developing new probiotic food or beverage products. The Probiotic Innovation Jumpstart, the brainchild of probiotic research and product development company Ganeden, is inviting scientists, entrepreneurs and inventors to submit their ideas for new probiotic products by May 6. Canadian companies can apply, but the product must be launched in the U.S. market.
Three finalists will be chosen to present their concepts to a panel of judges during the Institute of Food Technologists show in Chicago on July 16. The grand-prize winner will receive $25,000 in support to use Ganeden probiotics in their product, as well as the guidance, assistance and expertise needed to develop and launch their innovation into the food and beverage industry.
“The future of the food and beverage market is functional foods, and we see this program as a huge opportunity to share our expertise and support the industry by helping others bring their ideas to life and onto shelves,” says CEO Andy Lefkowitz.
The global market of probiotic ingredients, supplements and foods is expected to climb over the next five years to reach US$36.7 billion in 2018.