Watch: Doug Munk Talks Investing in Innovation, Employees and More

It’s never too late to change, even for a company that’s been around since 1866.

In a presentation at NOSH Live Summer 2019 in New York City, Doug Munk, director of new business ventures for Nestle, shared how Nestle is prioritizing innovation — empowering its 22,000 employees to contribute to the company’s growth and development. For example, protein beverage Jacked Rabbit, which launched at NOSH Live, was conceived by Mark Suslik, a financial analyst for Nestle.

“Everyone is an innovator,” Munk said.

Nestle spends about $2 billion per year on R&D, said Munk, adding that Nestle, “the oldest startup you can imagine,” is also investing in startups through Nestlé R&D Accelerator, its new food & beverage accelerator program. Aside from overarching support for new food & drink brands, Munk offered some more direct advice for emerging brands.

“There’s no such thing as the perfect plan; get 80% there, then launch,” he said. “There’s a tendency to over-tweak to make it better and better; by the time we learn it, we’re too late.”

For more on how Nestle is investing in its people, edible innovations and smaller brands, view the video above.