Mars Creates Internal Incubator Program for Brand Launches

The MarketingWeek website reported that the Mars company is creating an internal incubator unit, known as the New Venture Studio, to make sure it stays relevant and innovative in the way it creates and launches brands. The launch comes after the success of the company’s Launchpad open innovation platform, established in 2017, which allows all brand managers within the Mars group to submit a business case for testing and evaluation. These challenges – typically in marketing or supply chain areas of the business – are submitted as briefs to a relevant expert, who matches them to suitable external resources including startups and specialist agencies. Over the past two years, Launchpad has led to 46 pilot schemes with startup companies around the world. Ten of the pilots have led to scalable outcomes.

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