Why Nestle is recruiting startups to boost its innovation culture

Global food and drinks giant Nestle is offering startups $US50,000 ($67,260) in funding to develop solutions to social, environmental and health issues, and to boost innovation.

Through the company’s HENRi@Nestle program, businesses within Nestle outline challenges or briefs, detailing problems they would like to address and inviting startups to submit innovative solutions. The program is open to startups around the world, but the submissions must be in English.

Startups must be at least at a proof-of-concept stage, and successful applicants will receive the funding, as well as mentoring from a senior sponsor at Nestle, who can add additional cash if needs be.

Speaking at the Disruptive Innovation Summit 2018 in Sydney on Thursday, Gerardo Mazzeo, global innovation director at Nestle, acknowledged that “speed and agility are not exactly adjectives that would come to mind if you were describing Nestle”.

Historically, the company has been slow to meet customer needs, being overtaken by smaller and more agile competitors, and it’s now using “experimentation and collaborative innovation to try to bring the outside world in”, said Mazzeo. Read more

Stephanie Palmer-Derrien - SmartCompany - 9 Aug 2018