Using its AI platform, #foodbrain, Spoonshot examined 7,000 startups globally.
At Future Food Tech 2022 (San Francisco), KishanVasani, co-founder and CEO of Spoonshot (Minneapolis), revealed the results of its AI-generated report, Spoonshot Game-Changers 2022, showcasing an inaugural list of top innovations in the food and beverage space.
"Product innovation is typically measured by commercial success,” Vasani said in a press release. “While that's an important lens, it's a lagging indicator. Spoonshot wanted to identify and highlight emerging companies that have been courageous in their product development using non-financial signals."
Companies were selected by examining food and beverage startupsthat are fewer than 5 years old, have not been acquired by any major company or conglomerate, and have fewer than 20 products in their portfolio. Using its AI platform, #foodbrain, Spoonshot examined 7,000 startups globally. Alcohol, low/no alcohol, and pet foods were excluded from their research.
Spoonshot then measured the “novelty factor”—claims, ingredients, health benefits, etc.—of the products as well as a “consumer acceptance” feature. Data sources include social media, e-commerce websites, brand websites, consumer, and business trade press.
Based on these factors, Spoonshot developed a proprietary score to measure the innovativeness of each brand by combining the novelty and consumer acceptance parameters. The top 25 companies were included in the scoring process. The higher the score, the more innovative the company