According to Herbalife, at the last such meeting that took place in November 2014 the company received more that 120 proposals, of which 10 were selected as finalists. Of those, the company has partnered with four finalists on products that have either been launched or are in their final development stages.
The company is seeking proposals in the following areas:
- Innovative meal/snack food bars
- Non-egg-based breakfast food/snacks in powdered format – just add water/milk (could be omelet, pancake, or bake mixes, etc.)
- Novel delivery formats for vitamins, minerals and nutraceuticals (especially chewables and orally-dissolving technologies)
- Innovations in plant nutrients and botanical ingredients.
Herbalife is a network marketing company that now sells dietary supplements, meal replacements and other nutritional products in more than 90 countries. The company recorded $4.5 billion in sales in 2014.
At the meeting, which will be held in conjuction with Nutrition Capital Network executives, submissions will be evaluated on criteria that include:
- Value proposition and ability to create a viable cost-benefit proposition within our direct selling model, especially around Nutrition Clubs
- Level of scientific substantiation
- Supply-chain availability and fit with our manufacturing infrastructure and distribution model
- Fit with the Herbalife nutrition and ingredient philosophies.
Selected finalists will be assigned mentors from Herbalife or NCN to hone their presentations prior to the meeting. Companies that wish to be considered can apply by clicking here. The deadline for applications is April 4.