Mile High Labs has launched the Mile High Innovation Lab, a product development platform built to support brands in developing, launching and scaling new products in the health and wellness industry.
Select partners will join the Innovation Lab to leverage Mile High Labs' R&D and manufacturing expertise, Royal DSM's global library of unique vitamin and mineral combinations, and Brightfield Group's in-home consumer surveys to bring innovative product concepts to life.
"Think of the Mile High Innovation Lab as a virtualized R&D and consumer panel platform," said Jon Hilley, CEO, Mile High Labs. "It's a way for our partners to leverage the unique strengths of the world's leading cannabinoid manufacturer in Mile High, the world's leading ingredient company in DSM and the industry's leading consumer insights platform in Brightfield Group. You come with the consumer product ideas, we prototype them, consumers test and you get actionable insights that give you the confidence to commercialize your product."
The Innovation Lab concept is born from the need in the market for a stage-gated, standardized product development process that accelerates the discovery of novel consumer products. It applies lessons learned from established global CPG companies to the cannabinoid market, creating a framework for more precision early in the product development process.
Mile High's innovation journey carries each partner's product ideas all the way from concept to prototype, to consumer testing and feedback, to commercialization, with every partner retaining the intellectual property of their discoveries.
Once concepts are prototyped, samples will be distributed to consumers enrolled in each partner's virtual consumer panel. After consumers try each sample, Brightfield Group will follow up with In-Home User Testing surveys (IHUTs), which are designed to gauge consumer reactions to the product concept, measure satisfaction levels based on a variety of attributes and identify willingness to purchase. The actionable product insights produced from Brightfield Group's IHUTs help partners minimize the risk of failure and maximize the commercial opportunity of each new product concept.
"The pace of innovation in CBD is accelerating, giving way to the next generation of products that include additional functional ingredients, minor cannabinoids and need-state focused positionings," said Bethany Gomez, Brightfield Group's managing director. "As CBD heads into this next chapter, with retail rebounding and regulatory guidance on the horizon, it will be critical for the industry to apply more discipline and rigor to succeed. The Brightfield/Mile High partnership will put consumers at the heart of the innovation process to create innovative CBD solutions rooted in high-quality data and insights."