The MBA Startup Project is yet another evidence of IMD’s unique approach to creating “Real Learning. Real Impact”. As part of our Entrepreneurship stream, our team is working with Nectariss. This startup is a Swiss-based premium boutique firm that specializes in the production natural truffle flavors.
What’s so special about truffles?
Truffles are edible fungi, like mushrooms. However, unlike mushrooms which are easy to find, truffles are rare, seasonal, short-lived, expensive and bound to specific geographies and microflora. The Piedmont region in Italy and Périgord region in France are most famous for white and black truffles. However, what most people do not know is that white truffles naturally occur in Eastern European countries as well. In contrast, black truffles can also be harvested in Spain and even in Croatia.
Truffles are rich in aroma and flavor. They give a unique sensorial experience and are coveted goods in the specialty food industry.
The Necatariss approach and technology
Through a patent-backed technology, Nectariss produces organic oils and concentrates. Fully sourced from premium black and white truffles, these are capable of delivering an experience akin to using fresh truffles in your products or dishes all year long. They also eliminate any of the constraints of fresh truffles in a sustainable manner (Clean Label). With increased health awareness and demand for sustainability in the food industry, Nectariss seeks to make an impact through its approach in creating natural flavors rather than synthetic flavors widely offered by competitors in the market today.
Working with Richard and Diana has exposed our team to a whole new world of truffles. We enjoyed a tasting session with Richard and a subsequent 4-course tasting session hosted by classmate, Costantino Carli. Both sessions further broadened our understanding of this initiative and appreciation for the natural truffle oils. The oils are “really good”. As a plus, Nectariss offers the natural flavors as concentrates for B2B business who produce oils on a larger scale for commercial purposes.
With a such an amazing product comes the bigger challenge:
How can we launch and carve a niche for Nectariss in the specialty foods industry?
We are currently deep into research, market and competitor analysis. We are also speaking with key opinion leaders in the specialty foods industry and potential partners. Our goal is to develop a strategy to help Nectariss scale up on both its B2B and B2C segments.
Eseosa, Costantino, Juan Pablo, Rita and Love