Ganeden Drives Industry-First Entrepreneur Program for Food and Beverage Startups

The program invites ideas for brand-new probiotic food or beverage product concepts from scientists and innovative companies to be submitted on the Ganeden website by May 6, 2016. Three finalists will be chosen to present their ideas in-person at the Institute of Food Technologists (IFT) to a panel of esteemed industry judges. The grand-prize winner will receive $25,000 in support to utilize GanedenBC30 (Bacillus coagulans GBI-30, 6086) probiotics in the product, as well as the guidance, assistance and expertise needed to help develop and launch the innovative probiotic product into retail in the food and beverage market.

The global market of probiotic ingredients, supplements, and foods is expected to climb over the next five years to reach $36.7 billion in 2018, according to BCC Research. There is a high demand from consumers and a recent consumer study found:
• 70% of respondents would prefer to consume probiotics in a food or beverage product rather than in a supplement
•Among those who are aware of probiotics, 98% of respondents would buy a food or beverage product that contained a health benefit if priced the same as a similar product without health benefits
•40-54% of respondents were willing to pay more for products with probiotics in them

 

“Ganeden’s growth and success has been accomplished by helping hundreds of forward-thinking companies around the world develop and market innovative, first-of-their-kind probiotic products,” said Andy Lefkowitz, Ganeden’s CEO.

 

“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,” Lefkowitz adds.
 
Judging will take place at the IFT show in Chicago on July 16, 2016. The presentations, to be done by two representatives from each company, will be judged by a panel of respected industry experts from both manufacturing and retail backgrounds.
The panel includes Mark Retzloff, a pioneer in the organic and natural foods industry, and Caroline Beckman, co-founder and CEO at Nomva. “This is a wonderful opportunity to help nurture our fantastic industry, and I am humbled to be a judge for Ganeden’s program,” said Mark Retzloff, senior partner for the Boulder Farm Team and chairman for multiple food and beverage boards. “I’ve personally watched products containing GanedenBC30 gain significant traction in the marketplace, and look forward to seeing the success that this program will bring.”