Nourished, a 2023 Startups 100 Index alumni, won the King’s Award for Enterprise in the Innovation category by recommendation of the Prime Minister to King Charles III.
The award, now in its 57th year, is one of the most prestigious accolades a business can be given in the UK and celebrates businesses that champion international trade, innovation, sustainable development, and opportunities for social mobility.
Launched in 2019, Nourished uses 3D printing technology to produce personalised health supplements in the form of stacked gummies.
Capitalising on the health and wellbeing boom after the pandemic, CEO Melissa Snover found an innovative solution to compartmentalising all supplement requirements into one stacked gummy. Our Startups100 judges thought Nourished was filling a gap in the market and playing into the personalisation trend.
The technology makes use of science-backed nutrients and an intelligent logic recommendation algorithm to make taking daily supplements a quick and easy task.
In conversation with Startups, SnoverNour said, “Innovation is at the heart of everything we do at Nourished.”
“We produce everything in-house from designing and creating our own manufacturing machinery to testing and developing our own product formulations and flavours. It is this unique approach which I believe was recognised in our King’s Award application and which ultimately gave us the honour of winning”.
A track record of success
The King’s Award is just another link in a chain of successes for Nourished. Back in 2019, the Birmingham-based startup secured £1.95m in the highest seed round ever raised by a female founder.
Nourished now employs more than 100 people across three sites in its birth city and is set to hit over £10m revenue in just its third full year of trading.
Previously, the health-gummy business has also placed in the 15th position in the 2020 Startups 100 Index. It also won the Growth Business of the Year at the Business Champions Award and the Elite Business’ Start Up of the Year award.
When asked why it’s important to apply for business awards, Nourished noted “It serves as a validation for your expertise, helping you to establish credibility within your industry.”
“Winning awards creates a sense of prince within your workforce, and encourages loyalty as they feel their efforts are valued and recognised by external entities.”
Ranking on the Startups 100 Index has also given Nourished added credibility. As they note in conversation with Startups, “We have received significant recognition in the press and social media as a result of coming 15th in the Startups 100 Index, which helps to build our brand awareness.”
Nourishing the future
The startup has already expanded into the US and has ambitious plans for the future. Snover told Startups, “We are currently preparing to launch a new product range in the UK, as well as expand into new markets in the EU this summer.”
It also recently took on a £2.5m investment from Suntory Holdings in a strategic partnership to support planned expansion into Asia in Q3.
Nourished’s success and momentum therefore continues to show what our Startups 100 Index alumni are capable of, as well as the importance of promoting innovation, growth, and funding for SMEs in the UK.
via https://www.AiUpNow.com
May 30, 2023 at 02:23AM by Fernanda Alvarez Pineiro, Khareem Sudlow
