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New product development and launch project

New product development and launch project. Not so long ago...a brief history. November 2008 – the concept was created Mill Pond Cannery and Preserves Company is a new company with a strong ‘local food’ orientation and commitment

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New product development and launch project

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  1. New product development and launch project

  2. Not so long ago...a brief history. • November 2008 – the concept was created • Mill Pond Cannery and Preserves Company is a new company with a strong ‘local food’ orientation and commitment • business philosophy derives from the idea of using Ontario-grown ingredients to develop a unique and premium fruit butter • Two ‘foodie entrepreneurs’ with a big idea – went looking for expertise

  3. What we knew, and didn’t know... • We know strategic planning, marketing, branding, finance, market research, sales and distribution... • We don’t know food science, food standards, recipe development and scale-up, production processes, labelling requirements, shelf-life analysis...we needed help! • Talked with several potential sources of assistance, then met Dawn...

  4. A match made in food heaven... • Initial meeting with Research & Innovation in December 2008 • Strong culinary capabilities and expertise • Commitment to student learning through hands-on experience • Understanding of the emerging ‘local food’ movement • Strong project management focus and discipline • Cultural compatibility • Met with Culinary folks, including Winnie, Moira and Ian, and Barb Shopland • Next step...build project plan, with kick-off in February 2009

  5. The process was smooth... • GBC expertise was unbelievably valuable – complemented our own domain expertise • A real ‘can-do’ and ‘hands-on’ attitude, that business people love • Creative solutions to very real and practical problems • Mutual learning...mutual success

  6. Mutual benefits and success... • Benefits for Mill Pond Cannery & Preserves are numerous... • Access to top-notch expertise, with deep industry experience • Credibility boost from working with a highly-respected culinary partner • Synergies to solve problems in a highly collaborative and creative manner • Huge learnings for Mill Pond Cannery as a result of GBC in-house knowledge and willingness to share expertise • Adrenalin rush from making things happen, and ultimately getting to market with an outstanding product line • Benefits for GBC are also numerous... • Concept-to-store shelf experience for students, especially Irene • Right from the start, from product concept through to in-store sampling of the products • Exposure to the ‘business’ realities of entrepreneurial endeavours • Market exposure through affiliation with Mill Pond Cannery – locally + globally • A critical partner in a Canadian success story – kudos galore! • A royalty agreement to share the financial gains

  7. Leveraging other GBC expertise... • Labels designed by Kimberley, who is a recent GBC graduate – and a amazingly talented Graphic Designer • visual brand is a critical element of the marketing strategy • Market research to identify potential sources of ingredients in Eastern Ontario, and existing infrastructure components – performed by 2 GBC students (including Irene, and Alex from Business school)

  8. More to come... • GBC is our partner-of-choice for new product development going forward (3-5 new products per year are planned) • Expansion of GBC relationship into food processing facility design and construction • Joint planning sessions to continue to leverage synergies and collaborative process

  9. Questions?

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