A map of tomorrow's ingredient landscape with Naturex's Open Innovation Commitments
Avignon, 9 March 2016 - How are new technologies likely to change the ingredient supply chain? Will industry be able to keep up? In this climate of constant change, collaboration and open-mindedness are essential. NATUREX understands that solving the industry's challenges through disruptive technologies requires involving other parties, wherever they may be.
Open Innovation is key to success
Innovation has always been strongly rooted in NATUREX's DNA. The company's R&D department has developed long-standing relationships with academic and scientific authorities, leading to successful launches like the recent Eutectys™ cosmetic collection. Another important aspect is licensing. For instance, NATUREX recently signed a licensing agreement with Barry Callebaut for marketing cocoa extracts. This agreement with a worldwide player allows NATUREX to bring the benefits of cocoa flavanols to the dietary supplement market.
Looking to the future: INGENIUM, an Open Innovation Program
NATUREX is launching INGENIUM, an Open Innovation Initiative with the goal of advancing technological breakthroughs by sourcing and supporting innovative ideas from various sources. As part of this program, NATUREX will be partnering with new start-up companies whose promising business ideas and technologies may be valuable to the company's development. Partnerships will include extensive advice and mentoring on various levels, (regulatory, legal, logistics, marketing etc.) and NATUREX will also make the company's facilities - for example the analytical or application labs- available to the chosen candidates.
NATUREX is also planning to establish a Technology Advisory Group (TAG) which will include highly respected technology business actors and/or key academic opinion leaders. Privileged research areas shall include biotechnologies, new extraction and cultivation processes, identification of new botanicals or digital marketing technologies.
Doug Klaiber, CEO of NATUREX-DBS division, has been asked to set up this Open Innovation Initiative. Doug's background as an entrepreneur in innovative ingredients at Decas Botanical Synergies (DBS), a company acquired by NATUREX in 2012, make him the ideal candidate for this mission.
Olivier Rigaud, CEO of NATUREX, commented: “Open Innovation is key to our BRIGHT2020 strategic plan. Our aim is to generate 10% sales through new product developments by 2020, and we know that innovation cannot be provided solely by our own research. By crowdsourcing innovation, NATUREX can improve customer value, drive advancements across industries and, last but not least, foster local economic development. We are very proud to be shaping the future of the ingredients industry.”
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Naturex has been listed since October 1996 on Euronext in Paris, Segment B
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Naturex is a component of the CACT, Enternext CAC PEA-PME 150, CAC Small & Mid, CAC Small, Gaïa Index.
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Naturex established a Sponsored Level 1 American Depositary Receipt (ADR) program in the United States. Under this facility, Naturex's ADRs are traded over-the-counter in the United States under the symbol NTUXY.
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Naturex is the global leader in speciality plant-based natural ingredients. The Group is organised around three strategic markets (Food & Beverage, Nutrition & Health and Personal Care) and produces and markets speciality plant-based ingredients for the food, nutraceutical, pharmaceutical and cosmetic industries.
Naturex's head office is based in Avignon. The company employs more than 1,700 people with 8 sourcing offices located throughout the world and high-performance manufacturing operations across 15 sites in Europe, Morocco, the United States, Brazil, Australia and India. It also has a global commercial presence through a dedicated network of sales offices in more than 20 countries.
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