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FlavorWiki
Wednesday, Oct. 25, 2017 · 12:09 p.m. · 03m 20s
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right and that is part of it they can start accelerator you can see that you
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ah when you're ready we are ready
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oh really one i'm daniel and i'm one of the founders of flavour weekly we help the fruit industry make great tasting food
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did you know that every year over seven hundred billion
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dollars are spent marketing researching and producing food products
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but over eighty percent of new products actually fail to meet their sales targets in the market
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and a large reason for this is that the number one driver
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of a purchase decision which is taste is not well understood
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measuring taste cost starting twenty thousand dollars per test and can take many
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months meaning that only the largest companies can even afford this research
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actually ricky we use a patented digital solution that starts with the free product
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in this can be any product it can be a product that's in the market already it can be
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a prototype you can be a sample that sent to supply or any food stuff will work
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we don't have a self service application it's web based that allows us to gather this data from anywhere in the world
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and this is very important because it allows us to scale or business without significant intervention from sales force
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we can create output which are statistics around flavour perception and preference
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in those specific markets and this can vary widely based on ethnicity nationality and age
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this is our team white diverse uh experience are
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all across the commerce technology reproduction into science
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how we make money well i mention this is a very expensive research today we actually start with the frame your model and
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we do that because it allows us to scalar brand but allows also small players to be able to access this technology
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we can start charging an annual subscription fee of one to three thousand dollars per year per test
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and this allows us to have enterprise class which are worth well over two hundred fifty thousand dollars per year in the large sector
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our dress one market is five hundred thousand pack is free products more than
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five million restaurants in more than two hundred and fifty thousand grocery stores
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we started in may we've already signed some first pilots with some companies in brazil
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and weren't very very uh advanced ages with some companies here
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in switzerland nero come up any you might recognise them
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and we have a very long pipeline of interested companies in the fortune five hundred c. d. space
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we're looking for six seven hundred and fifty thousand dollars in seed money
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and this is to increase the rate of our data collection for algorithm
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to grow our team specifically in the area of sales and marketing
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so that we can cause more deals with many of these companies that are interested in working with us
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thank you thank you thank you how
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