Three Bite-Sized Facts on Food Startups
Looking to learn but in a rush? Check out our newest series on food startups — with easily digestible facts for you to learn while polishing off your morning coffee. Today, we begin with the general trends on food startups:
Bite-Sized Fact 1: Food startups can patent their ideas
The implication: While your grandmother’s cake recipe may not be patent-worthy (it wouldn’t meet the requirement of being a unique and novel creation), it is possible to patent a recipe. However, the food needs to have a “wow” factor — whether that’s high-tech food (such as 3-D printing) or food additives (such as a foaming agent) to be approved for a patent. You can also get the wow factor with new preparation processes, machines, and packaging.
Bite-Sized Fact 2: Four in five millennials are willing to experiment with new products
The implication: Whether your startup focuses on the food itself, complementary tech, or an additive, research shows that millennials are more than willing to try new products and flavors. Don’t be afraid to market new flavors or innovations to consumers — because that’s what millennials are looking to purchase in stores!
Bite-Sized Fact 3: Plant-based and non-dairy are the “hot” food terms of 2018
The implication: If you’re stuck on how to inject innovation into your food startup, look no further than the alternative dairy and plant-based food startups that are gaining popularity. Larger, legacy food companies are beginning to eye plant-based and non-dairy startups as potential targets for acquisitions, if you’re looking to start a venture that could be bought out.
Did we miss a trend? Are you looking for more information on how to protect your food startup’s idea? If so, check out our Facebook group, where we regularly post tips on how to monetize your startup idea. We’d love to hear your thoughts, so join the group and let us know your opinion!
At KISSPatent, we help entrepreneurs and innovators to monetize their ideas. We put the power of patent protection for your unique idea in your hands. We help startups increase their valuation, keep from getting blocked, and protect their ideas and their communities. Contact us to get started here.
Visit our Learning Hub to learn more about how intellectual properties can contribute to your startup’s success.
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