New year reality check
The new year has brought news of major setbacks at two US beverage innovators:
- Avitae, a caffeinated water launched in 2009, recently laid off all but one of its staff; and
- Mix 1, an all natural protein smoothie backed by $12 million from Hershey, is reportedly under review.
The trends remain in favour of natural, healthier and functional products, but the competition is ferocious.
The US market is at the heart of small scale innovation, with fantastic advisory, funding and media support … but there is a cavernous void between wishful thinking and viability.