Last month more than 300 representatives of the broad spectrum of the Irish food industry joined with investors and other stakeholders to hear from a range of experts at two Enterprise Ireland organised events in Cork’s Páirc Uí Chaoimh. Held simultaneously on May 31st, the two events addressed the importance of innovation for both established and start-up food enterprises.
The Food Innovation Summit showcased the innovation capability within the food industry and shone a light on the strength of Ireland’s food research ecosystem and the innovation capability within the sector.
The Scaling Through Innovation food and drink start-up event explored the entrepreneurial journey through a series of panel discussions on scaling, exporting, investment and retailing. Participants also heard from international keynote speakers who examined what the future of food will look like.
“The Food Innovation Summit was aimed at established food companies exporting into global markets,” says Enterprise Ireland manager of food division and sustainability Mark Christal. “We have a very, very strong group of Irish food companies across all segments who are delivering a very strong export performance and creating employment right across the country. The event emphasised the link between growth and investment in innovation and R&D. We looked at what food products are going to be in most demand in future. We also looked at the digital and sustainability agendas.”
Innovation is important for a number of reasons, he adds. “It’s about providing what consumers want in international markets. They are going to require high quality food products and ingredients that are highly nutritious, safe and healthy. The modern consumer wants innovative food solutions that meet the needs of populations from the very young to the elderly. Also, Irish food and drinks companies continue to face increased competition from other markets. They need to continue to innovate to hold and grow market share. They need to develop differentiated products underpinned by technology and innovation.”
The future-focused agenda looked at various trends in the market. “We heard people speaking about what they are doing in areas such as low sugar, low salt, higher protein, and higher value-added foods and ingredients,” says Christal. “We tried to include a very practical element to the event. We heard the stories of Irish food companies who have gone on the journey. We heard from Liz O’Leary, of Keohane Seafoods, Donal O’Sullivan of Nutribio, Grace O’Sullivan from Bfree Foods, and Anne Smyth of Drover Foods. These are all companies that are innovative and have developed products and ingredients that are succeeding on international markets.”
At the other end of the scale the event heard from Jim Bergin CEO of Tirlán. “This is a very successful Irish company with global market reach and a culture of innovation,” says Christa.
“A big theme discussed was how big data and AI will impact food innovation. We looked at manufacturing processes, how we are making food products, and how data can be used to support product development.”
Both events heard from food futurologist Dr Morgaine Gaye, who gave insights into what food markets may look like in the coming years.
“The start-up event was aimed at companies at the beginning of the journey,” says Christal. “Technology, innovation, and sustainability are going to drive future start-up companies with the potential to scale and grow on global markets.”
The event heard from a range of companies including the Kerry Group who offered insights into how it works with innovative companies. Four Enterprise Ireland high potential start-up companies – Whole Supp, Kwayga, Plant-It Foods and All Real Nutrition – discussed how Innovation can break down the barriers to achieving scale.
In addition, successful Irish exporters B-Free, The Naked Collective, West Cork Distillers, and Keeling’s described how they successfully launched products in international markets.
“It was very important to hear from Enterprise Ireland client companies who talked about their experience of scaling and going through the system. Some of them engaged with accelerators like FoodWorks, venture capital firms, or with State bodies like Enterprise Ireland, Bord Bia, Teagasc and the Local Enterprise Offices. That collective support effort across all the State organisations in the ecosystem is really important. That extends to Enterprise Ireland-supported technology centres and research centres as well as third-level institutions.”
The events also showcased the range of Enterprise Ireland supports available for companies engaging in R&D and innovation. “There is a direct correlation between level of research, development and innovation activity and growth and scaling potential on international markets, and we want to see as many companies as possible doing R&D. We have an extensive suite of supports available to assist them in those efforts.”