It was impressive to see quite a few startups address tasks that consumers would like to prioritize in the everyday but struggle to get done. One company, for example, launched an app to help individuals find and buy local. Another made it easier for people to eat all-natural foods. A third focused on enabling people to reward themselves without feeling guilty. Having worked with a number of leading food companies, we have seen that customers are often willing to pay a premium for these exact types of services. This suggests that these young startups may be on to something.
Looking at the winner and the runners-up in the event, three big lessons stand out on how companies can differentiate themselves in crowded markets: