Label Insight has been selected as one of the Top 100 Finalists for the 15th annual Chicago Innovation Awards. The awards celebrate the most innovative new products and services in the Chicago region across all organization sizes, sectors and industries. This year's winners were selected from a record-breaking 643 nominations, which were narrowed down by 13 judges down to 100 finalists. 1500 business and civic leaders will come together to honor the winners when they are announced on October 25th at Chicago's Harris Theater."What I love about Chicago is its breadth of innovation," said Tom Kuczmarski, co-founder of the awards. "This year's nominees prove that innovation is taking place in both large companies and small, across industries, for-profit and non-profit, high tech and low tech. These risk-takers and visionaries are at the forefront of solving all kinds of unmet needs in the marketplace."
Label Insight’s SmartSPEC technology, which was nominated for the Chicago Innovation Awards, addresses challenges around product transparency. Today, consumers are demanding more transparency around what’s in the products they use and consume. Label Insight’s data solutions are helping manufacturers and retailers meet and exceed this demand for the first time with attribution technology that automates and simplifies the process.
According to the 2016 Label Insight Food Revolution Study, 94% of consumers say it is important to them that the brands and manufacturers they buy from are transparent about what is in their food and how it is made, and 83% say they would find value in having access to more in-depth product information.
Despite the desire for transparency in their food products, only 12% of consumers rank brands as their most trusted resource for information about what is in their food, but 67% of consumers believe it is the brand or manufacturer’s responsibility to provide consumers with this information, demonstrating a clear gap between consumer expectations and the information brands are providing.
Label Insight’s SmartSPEC technology makes it easy for brands to provide product transparency to the end consumer by participating in the SmartLabel initiative and for and retailers to provide more detailed product transparency to their shoppers.
Out of the Top 100 Finalists, the judges will select 10 winners of the Chicago Innovation Awards, as well as 10 winners of the Up-and-Comer Awards representing innovation in the start-up community, the Social Innovator Award, the Collaboration Award, and 3 new Neighborhood Award winners, which will showcase innovation occurring in Chicago’s diverse neighborhoods.