Tyson brands is taking a more modern approach to product creation following the announcement that the 88-year old company will be launching a new Innovation Lab in Chicago.
A food scientist, a brand marketer, a product designer and a Michelin-trained chef are among the seven individuals heading the project. Together, this team will develop a new product over the course of six months." This new approach was inspired by the prevalence of startup mentalities and a heightened interest in crowd souring. According to Jen Bentz, the Senior Vice President of R&D, "As we think about innovation and what’s happening out in the market today, we’re seeing a lot of growth coming from smaller startup companies."
Re-Imagined Food Innovation Labs
Tyson Brand's Innovation Lab Hopes to End Food Waste
Trend Themes
1. Food Waste Reduction - Tyson Brand's Innovation Lab aims to end food waste by developing innovative solutions for food production and consumption.
2. Collaborative Product Development - Tyson Brand's new Innovation Lab embraces crowd sourcing and diverse expertise to create unique and marketable food products.
3. Integration of Start-up Mindset - Inspired by the success of smaller start-up companies, Tyson Brand's Innovation Lab adopts a more agile and entrepreneurial approach to product creation.
Industry Implications
1. Food and Beverage - The food and beverage industry can leverage Tyson Brand's Innovation Lab ideas and approach to reduce food waste and create new product offerings.
2. Research and Development - Companies in the research and development industry can learn from Tyson Brand's Innovation Lab on how to promote collaborative and innovative thinking in product development.
3. Hospitality and Culinary - The hospitality and culinary industry can explore the opportunity to integrate technology and new ideas from Tyson Brand's Innovation Lab to enhance food experiences and reduce waste.