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World Food Innovation Awards 2020

Innovation Tax will be sponsoring the World Food Innovation Awards, designed to recognise and celebrate excellence and innovation of concept across every category of the global food industry at HRC (London ExCel) between Tuesday 3rd and Thursday 5th March 2020.

Sachin Chauhan, Managing Director of Innovation Tax Specialists commented; “We are delighted to be sponsoring the award for ‘Best Manufacturing or Processing Technology’ at the World Food Innovation Awards this week, hosted by FoodBev Media

A FoodBev Media report recently said “The World Food Innovation Awards celebrate some of the most ambitious new products and developments of the year across both established brands and start-ups. We have seen new flavour combinations, smart packaging designs, and revolutionary technology, many representing the rise of the health-conscious consumer and a more sustainable food industry.”

We have seen an increased focus on innovation in the food sector over the last few years, with more companies dedicating larger budgets on Research and Development.

We have seen an increased focus on innovation in the food sector over the last few years, with more companies dedicating larger budgets on Research and Development.

An R&D survey conducted last year by FoodProcessing.com highlighted that businesses will be focusing their R&D efforts in the following areas:

  • New Product Development
  • Improvements to existing products
  • Removing ingredients which interfere with clean label initiatives
  • Extensions on existing product lines
  • Waste reduction and greater emphasis on shelf life to improve cost efficiency, especially with seasonal items
  • Use of sustainable ingredients with minimal environmental impact

Incorporation of internet of Things (IOT) into laboratories to make processes more efficient and improve food safety measure is another area being targeted.

Innovation Tax would be delighted to assist companies in the food manufacturing sector to assess their eligibility to claim innovation tax incentives, such as R&D Tax Credits.

, World Food Innovation Awards 2020, Innovation Tax, Innovation Tax