1. Description of Business
Company started in 2015 with an idea to create the drink which towards people to use more plant-based drinks in their daily lives. AVOO is an original Lithuanian oat drink company, which started in 2015. Company’s mission is to accelerate society’s shift towards plant-based drinks. Company believes that they can accelerate this shift dramatically. Bad taste is one of the main issues keeping most plant-based drinks from getting global traction. Therefore, AVOO has challenged and proved by creating a drink that is purely from plants and is tasty, joyful and guilt free. It can be used for making pancakes, ice-cream, cakes, confectionery without any sugar or milk or bleaching coffee and so on.
2. Description of Innovation
Innovation is something new or vastly improved. The company’s innovation goal is that our drink is naturally sweet, with no added ingredients, and has a shelf life of up to eight months. The goal is to lower the price, create a healthier and tastier product.
Large-scale production requires better quality assurance. We also lacked a bit of professional experience, because for the first-time many things are missed and miscommunications occurs. Also we missed some information on how to find an investment.
4. Actors and stakeholders
Company collaboration – cooperation with manufacturers, science centers on small-scale production.
- Laboratory tests in the company (sensory analysis)
- Small-scale production
- Attending a food fair
- Collaboration with an ice cream company
- Large-Scale Production (Technology)
First of all, we had to negotiate the prices of raw materials (at first, we did not know what prices prevail in the market). Second, we had to find a production site and medium-large companies were not that interested in getting into small business production. Third, documentation, laws, and so on.
Eventually, the product has been created, the strategy has been developed, the necessary partners have been found.
7. Obstacles & shortcomings
Product quality assurance, product distribution, communication with other companies. The duration of the process is at least three times longer than planned. There are no clear steps that startups should follow.
Do’s: Sign contracts, communicate with the team and the companies you work with, even on the smallest details. Dont’s: Don’t do it all alone.
All documentation should be done in advance. We would look for investors in the past.
Include production losses in production.