Announcing the NEW PRODUCT COMPETITION

Transcription

1 Announcing the NEW PRODUCT COMPETITION

2 DuPont Nutrition & Health Our Value Propositions Nutrition Solutions Improved Health Food Protection Taste, Texture and Appearance Minimize Fats, Salt and Sugar Add Fiber, Protein Weight Management, Digestive, Immune, Bone, Heart and Oral Health Rapid Safety Diagnostics Food Safety Shelf Life Extension/Food Waste Reduction Sustainability & Affordability

3 Vision for the Knowledge Award To support innovation within the food science programs at leading academic institutions. To develop stronger links between universities and DuPont. To encourage innovative approaches to meeting today s food science challenges.

4 Program objective The aim of the Knowledge Award program is to encourage the development of innovative new food and beverage products using two or more DuPont ingredients. Antimicrobials Antioxidants Betaine Natural Colors Cultures Emulsifiers Enzymes Functional Fibers & Extracts Hydrocolloids Probiotics Specialty Proteins Sweeteners Tailored Blends

5 What s in it for me? Both universities and students benefit from participating in the Knowledge Award. Academic Institutions Students Develop closer relationships within the food industry. Free publicity for the University. Gain the opportunity to test their ideas in a realistic commercial environment. Obtain the chance to have their product concepts commercialized. Improve their job opportunities through exposure to food industry companies.

6 Rules for participation Participant profile Entrants must be a junior, senior or graduate student during the academic year at a U.S., four-year accredited college with a declared major in food science or related major. Individual or team entries are accepted. A faculty sponsor/advisor must verify the eligibility of the entrants and the originality of the concept.

7 Participating universities 37 entries in 2013, representing 22 schools Clemson University* Iowa State University North Carolina State University Ohio State University Oklahoma State University Rutgers University San Jose State University* Southwest Minnesota University* University of Arkansas* University of California Davis University of Georgia* University of Illinois, Urbana University of Maryland University of Massachusetts Amherst University of Missouri University of Nebraska University of Tennessee* University of Wisconsin-Stout Virginia Tech Washington State University/ University of Idaho* * More than one entry submitted.

8 How to participate 1. Complete entry form, including faculty sponsor signature, and mail or to the address below. Must be postmarked/ ed by February 13, Develop a new food or beverage using two or more DuPont ingredients*. Mail 18 samples, including assembly and preparation instructions, for arrival by Thursday, April 24, 2014, to the address below. Perishable products must be packaged appropriately to last until Saturday, May 4, Submit Final Report by April 22, See criteria in the following pages. Mail entry forms or send via to: Mail samples to: Rebecca Bingman DuPont Marketing Department Four New Century Parkway New Century, KS rebecca.bingman@dupont.com Cathy Miller DuPont Innovation Department Four New Century Parkway New Century, KS * Participants may request samples of DuPont ingredients via the Knowledge Award website or by contacting Rebecca Bingman at ext or at rebecca.bingman@dupont.com.

9 Report criteria Each submission must include: Title Page A concept name or title for your product. Participants A separate page listing all participants, home addresses, telephone numbers and university/school affiliation. This should be the ONLY place where the team members and universities are mentioned. Executive Summary Summarize the highlights of your report. Emphasize uniqueness and marketability. THIS SUMMARY IS IMPORTANT as the Semi-Finalist judging forum is based only on this portion of your report and tasting the product. Include DuPont ingredients used and functionality, target market description and key nutrition facts. Limit one page. Include as a separate sheet (for Semi-Finalist judging) and with the Final Report. Concept Sheet The concept sheet available via the program website on the download page must be TYPED in full (include full ingredient and nutritional statements) and submitted with your final report. This sheet provides the pre and final judges with a brief snapshot of your entire concept.

10 Report criteria Each submission must include: Prototype Please include photos of your product, preferably in digital format (800x1200 pixels). References List references as endnotes on a separate page at the end of the report. Verification Letters must be included (see entry form or Specifications Font: Arial 12 pt. Line spacing: 1.5 Final report not to exceed 15 pages, excluding references, participant listing and verification letters. Report Submission ( ed copies only) Electronic versions (Microsoft Word compatible) of your report are preferred via copy to rebecca.bingman@dupont.com by April 22, If you are unable to your report, please contact Rebecca Bingman for processing procedures.

11 Judging criteria* The final written report must include: Executive summary Product description Formulation and development criteria DuPont ingredient functionality Market demand Market environment (competition, patentability, regulatory, economy) Ingredient listing Sensory or focus group data Nutrition profile Shelf life Price/cost Regulatory compliance Concept sheet Verification letters References University names must be excluded from all sections of the report in order to eliminate any unintentional biases by our judges as a factor. * See Appendix for a more detailed description of these criteria.

12 Judging criteria for semi-finalists Pre-selection: Concepts submitted are initially screened for the most innovative use of DuPont ingredients based on the Executive Summary, Concept Sheet and tasting the product. The judging panel of 5-7 DuPont product development experts ranks entries using the same product criteria as the final judges. Twelve semi-finalists are selected for the final judging. Judging is based on a 100-point system: Product Criteria Originality of Concept 20 Flavor/Aroma 20 Technical Feasibility 15 Appearance/Visual Presentation 15 (Not related to packaging) Texture/Mouthfeel 10 Physical Stability 10 (oxidative stability, cohesiveness, no unintended separation) Quality of Executive Summary 10 and Concept Sheet Sub-Total Points 100 Semi-Finalists are determined by total points earned for innovative use of DuPont ingredients.

13 Judging criteria for finalists 12 semi-finalists assessed on a 200-point scale: Written Report Criteria Completion and Quality of Report 20 Market Potential/Demand 20 Commercial Feasibility 20 Shelf Life/Stability Data 15 Nutrition Profile 15 Regulatory Compliance 10 Sub-Total Points 100 Product Criteria Originality of Concept* 25 Flavor/Aroma 20 Technical Feasibility 15 Texture/Mouthfeel 10 Physical Stability 10 (oxidative stability, cohesiveness, no unintended separation) Appearance/Visual Presentation 20 (Not related to packaging) Sub-Total Points 100 Total Points Possible 200 Winners are determined by total points earned for the most innovative use of DuPont ingredients. * Originality requires that all concepts submitted have been kept confidential and not disclosed, discussed or disseminated publicly.

14 Judging criteria: Final selection In the Final Evaluation: Judges remain anonymous. A 5-10 member judging panel is selected from the food industry with no more than two DuPont personnel on the panel. Judges have a diversified background with a major emphasis on new product development. All evaluations remain confidential.

15 The Knowledge Award story Take an inside look at the competition:

16 Property rights Entry into the challenge constitutes agreement by the contestants to the following: 1. Use of product concept and report for demonstration to DuPont customers and marketing purposes. 2. Use of contestants names. 3. Contestant may be requested for press interviews. All product concepts become the property of DuPont and must be kept confidential by participants. However, if DuPont chooses not to exploit the concept, non-exclusive rights to the concept will be transferred back to the entrant upon written request within 60 days following the end of the Contest.

17 Awards $17,000 in cash awards per competition.* First place: $10,000 Second place: $5,000 Third place: $2,000 Winners will be notified by June 27, Taxes on awards are the sole responsibility of the winner(s). * Only one cash award will be granted per concept, therefore, team entries must designate a Team Leader to receive the award.

18 Awards presentation To accept the award, the winner or Team Leader and one elected faculty advisor or chairperson will receive an all expenses-paid trip to the 2014 Prepared Foods New Products Conference. Travel details will be confirmed at a later date. Winners will also be posted on our website: Communication and Marketing Winning entries will be used to help promote the Knowledge Award program. Winning participants must be prepared to participate in these promotional efforts.

19 Available information resources Communication kit/presentation folder DuPont product brochures FDA website: for regulatory guidance DuPont websites: and Partnerweb: Online Knowledge Center at Knowledge Award video on YouTube *To access Partnerweb, a Password and ID can be obtained by contacting Rebecca Bingman at rebecca.bingman@dupont.com. Access will be available until May 2014.

20 For more information Please contact DuPont if you have further questions: Rebecca Bingman, Marketing Communications, DuPont Nutrition & Health. Phone: ext Fax: Website: or The Knowledge Award is a collaboration between the Innovation, Global Marketing and Communications departments at DuPont Nutrition & Health.

21 Appendix KNOWLEDGE AWARD JUDGING CRITERIA

22 Judging criteria Originality of Concept: A major goal of the project is to inspire innovation; concepts proposed should be truly novel. Originality requires that all concepts submitted have been kept confidential and not disclosed, discussed or disseminated publicly. Flavor and Aroma: The flavor and aroma should be positive. Taste is considered one of the top reasons for purchasing a new product. Technical Feasibility: Do you think the process could be duplicated on a large scale? Are numerous manual steps required to produce your product? If so, the end product may be too expensive to produce for a mass market. Are there any concerns when you take your concept out of the lab and produce the product for the mass market? Texture/Mouthfeel: Your product should have pleasant organoleptic qualities. Physical Stability: Oxidative stability, cohesiveness, no unintended separation. Appearance/Visual Presentation: The product s appearance should be compelling or appealing, or at least should not be unappealing. Packaging concepts, however, will not be part of the judging criteria or have any impact on final results.

23 Judging criteria Market Demand: Is the market real? Does the product respond to an unmet need/want? Are consumers likely to purchase it at the intended price? How large is the market? The idea here is not to do an exhaustive market research project but to show that, based on referenced sources, the market is attractive for the stated reasons. Commercial Feasibility: Assuming the product is technically feasible, is there a market for it? Does it offer a unique advantage over competitive offerings? Are the raw materials accessible for mass market introduction? Will it be too challenging to distribute it widely to a mass market? Will it require special handling to retain its integrity in distribution? Nutrition Profile: Check similar products in the market to assist in determining serving size. Provide nutritional information as mandated by current label requirements. Shelf life/stability Data: Is the shelf life of your product comparable to other products on the market? Is its stability adequate for consumer acceptance (e.g., nutrition bars are typically stored at room temperature)? Would your product survive extreme conditions during distribution (e.g., Minnesota in winter, Dallas in summer, etc.)? Consider how you would define shelf life/stability for your product.

24 Judging criteria Regulatory: It is important to understand both the regulatory environment, in a general sense, and whether the ingredients used are considered safe and approved for use in the concept. Is the regulatory environment stable, or are changes underway that may affect ingredient selection or timing of the product launch? While understanding regulations requires years of experience, our intention is to encourage practical experience in checking regulatory compliance. Identify the four most key regulatory questions to be addressed, and document how you addressed them. Helpful links: FDA CFSAN (Food Ingredients and Packaging): EAFUS (Everything added to food in the U.S. list ): GRAS notices Database: Code of Federal Regulations: