Geneva, 29 November 2018
Givaudan launches MISTA – a new innovation platform for the food industry
Givaudan, the global leader in flavours and fragrances, has launched MISTA, a new innovation platform for the food industry. More encompassing than an incubator or accelerator, MISTA is an optimiser, enabling start-ups and established corporations to optimise ideas, products, people and investments.
Located in San Francisco, MISTA will open its physical premises in early 2019. With an extensive 7,000 square feet (650m2) of space, the MISTA Optimisation Center (MOC) will provide access to a product development facility, equipment for pasteurisation and fermentation, experts providing market and leadership development strategies, as well as input from world renowned culinary and food scientists.
“MISTA, which means ‘tasty morsel’ in Sanskrit, is all about the creation of a new business model focused on product innovation and development for the food industry,” explains Scott May, Vice President of Innovation at Givaudan and Head of MISTA, “with the intention and capabilities to create the future of food.”
From alternative protein, to health and well-being and biotechnology, MISTA helps companies develop new ways of thinking, leading to innovative solutions to the constant challenges in the ever-changing Food and Beverage industry. MISTA can also help companies, both large and small, with scale up, distribution, building a team and searching for partners.
“Today’s food systems are so complex, and the challenges so large that no single company can address them alone, and that’s where the concept of MISTA really comes to life,” adds Scott.
Joining Givaudan as Founding Members of MISTA are Danone, Mars Inc. and Ingredion Inc. as well as a number of strategic partners with world class capabilities from across the food industry, creating an integrated innovation platform.
The MISTA team plans to target twenty start-ups to bring into MISTA’s hyper-connected platform within the first year, with roughly ten of those start-ups located on premises at its headquarters in San Francisco, USA.
MISTA is one of a number of initiatives being launched by Givaudan aimed at building a more collaborative and inclusive approach to innovation with new types of partners – part of the Partnering for Shared Success pillar of Givaudan’s 2020 strategy of ‘Responsible growth. Shared success.’
Givaudan is the global leader in the creation of flavours and fragrances. In close collaboration with food, beverage, consumer product and fragrance partners, Givaudan develops tastes and scents that delight consumers the world over. With a passion to understand consumers’ preferences and a relentless drive to innovate, Givaudan is at the forefront of creating flavours and fragrances that ‘engage your senses’. The Company reported sales of CHF 5.1 billion in 2017. Headquartered in Switzerland with local presence in over 100 locations, the Company has more than 11,100 employees worldwide. Givaudan invites you to discover more at www.givaudan.com.
MISTA has developed an ecosystem of partners with world class capabilities to optimize your ideas, products, people and investments to solve your challenges. MISTA Founding Members include: Givaudan, Danone, Mars Inc. and Ingredion Inc. MISTA Start-up Members include: Wild Type, Geltor, Five Suns Foods, Analytical Flavor Systems, Thimus, Shameless Pets, Sevillana, Drop Water, Pop & Bottle, SunRhize Foods, and The Mochi Mill, LLC. MISTA Strategic Partners include: Pilot R&D, NewEdge, DRCNOW, Fülle, Better Food Ventures, Global RIFF, The March Fund, The Intertwine Group, NMI, and How Good.
Additional quotes from MISTA’s Members:
George Graham, Vice President of Mars Advanced Research Institute said: “Collaboration is at the heart of our innovation approach. As one of MISTA’s Founding Members, we are looking forward to partnering with the best and brightest to address some of the food system challenges of our time”.
Tony DeLio, senior vice president, corporate strategy and chief innovation officer, at Ingredion said: “The food industry is changing at an accelerated pace, which brings tremendous opportunities for companies with a technology mindset to drive innovation and growth. The future is about collaboration and we look forward to actively engaging with food companies wherever they are in their stage of growth to help meet changing consumer preferences and market trends. We’re excited to add our expertise in the ingredients space with the capabilities from other leading food companies to pioneer new levels of product innovation with MISTA.”
Takoua Debeche, EVP Research & Innovation at Danone North America said:
“Food companies continue to be disrupted at a fast pace with accelerated innovations and changes in the marketplace. To adapt and stay relevant for its current and future consumers, Danone has made growth a priority and is exploring new ways to innovate, alongside with building an agile and creative culture across functions. In such a model, connecting with our communities is a must. The Bay Area is without doubt one of the richest ecosystem for food and food tech start-ups and we see MISTA as an important outpost for us to connect with a broad community of entrepreneurs, and have the ability to test, learn and iterate around new consumer-centric opportunities. We share the same vision as MISTA and we are looking forward to collaborating with innovative partners and start-ups to contribute to create the food systems of the future: healthier for the people and better for the planet.”
Justin Kolbeck, CEO and Co-Founder of Wild Type said: "As a place for emerging food companies to exchange ideas about the future of food, MISTA promises to become San Francisco's newest food hub. The team at Wild Type is delighted to be part of MISTA's inaugural membership cohort and to learn from food companies, both large and small."
For further information, please contact:
Peter Wullschleger, Givaudan Media and Investor Relations
T +41 22 780 9093
Stephen Collins, Head of Communications, NOAM Flavours
T + 5139483433