Takestock: It's like an eBay for the food industry

Every year around £1bn worth of food waste is created in the manufacturing and distribution stages. Takestock aims to help extract some of the value from this.

Shortlisted in the 2degrees Champions Awards 2015

The background

Every year around £1bn (600k tons) of food waste is created in the manufacturing & distribution stages. We believe a lot of this has value and if it was easier to find a buyer much of that value would be unlocked. Takestock is like an eBay for the food industry.

What did we do

We launched Takestock in Nov 2014 and have already attracted some of the biggest names in the food industry as clients. We built the site to understand the various segments and preferences of the food industry and to discover the buyer barriers. We have had over 6000 unique visitors on the site and over 100 commercial business customers fully signed up.

The result

Its early days but we have already started trading and moving stock that was heading to the landfill back into an appropriate food chain channels. If we achieve our Business case this year, 2015 will see approximately £3M worth of food sold and utilized like this. Our Goal is to capture 1% of the waste by 2016 so 6000 tons into this category.

The personal pitch

No one to our knowledge is addressing this. The current options to the food industry are to sell to a liquidator for less than 5% of its value or landfill. Harnessing the network effect of the internet to get stock from the wrong place to the right and achieve market value is a quad win - seller, buyer, environment and us. Its a global problem and we already have a partner deal in discussion for Oz and Canada.

Links to relevant supporting materials

Embedded content: http://www.takestock.com/
Embedded content: https://twitter.com/takestock1
Embedded content: https://www.youtube.com/channel/UCAls2XiVdA1z-6T_abHh1YA/feed
Embedded content: https://www.facebook.com/wetakestockuk

This article forms TakeStock.com's submission into the Innovation of the Year category of the 2degrees Champions Awards 2015. It was written and submitted by Campbell Murray, CEO/co-founder TakeStock.com.