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Mr. Eric Wood is General Manager of Venturepark Labs, originally from Alberta, Eric has an extensive career in food and hospitality, having helped found restaurants, a brewery, and a golf course in BC. He has travelled extensively, worked with Disney in Florida, and been creative director and advisor to several food and hospitality properties.
We start with a discussion about finding product-market fit in the continually evolving world of food and beverage CPGs. We discuss Eric’s work at a Newfoundland brewery, and the strong restaurant brand of St. John’s-based Mallard Cottage.
Eric expands on the work of Venturepark Labs, working with emerging food brands, where they help entrepreneurs validate and further advance their businesses, such as their Concept to Market Sprint program, an incubator and accelerator. Since 2015, and founded by Arlene Dickinson, of Dragon’s Den fame, Venturepark’s focus on food & beverage CPG provides a well-rounded support system to understand all elements for food brands, as an advisor and enabler.
We discuss trends, fads, and what makes for lasting value in good quality food products. Eric gives the example of Gochujang, a spicy condiment from Korea, or the eternal classic pizza, and how modifications develop in different ways in different locations. We cover what might be considered the market for hot sauces, and examples beyond Tabasco, Frank’s, to consider Huy Fong’s Famous Sriracha, and development of Canadian Heartbeat Sauce Co. from Thunder Bay, Firecracker Pepper sauce, or the Hot Ones hot sauce show on Youtube.
We wrap up talking about craft production vs. larger scale production and where both large and small can provide high (or low) quality offerings. Whichever product, needs to make efficiencies, and the application of food science to maintain food quality at different scales of production. The example of innovation is highlighted with the example of growing brand, Crafty Ramen, what Eric sees as an upcoming trend, which is increasing regional food expressions, and plans for Venturepark Labs moving forward.
