CINCINNATI, May 21, 2020 /PRNewswire/ -- P&G Ventures,
the early-stage startup studio within P&G (NYSE:PG), is
inviting entrepreneurs, inventors, and startups to submit a product
pitch for its first-ever Virtual Innovation Challenge. The
challenge, now in its third iteration, seeks out budding
entrepreneurs who are driving the next generation of technologies
that will change consumers' lives, and helps fuel innovation amidst
the global pandemic.
Three finalists will be selected to pitch online to a panel of
judges on June 24, 2020 at
1 p.m. ET. The broadcast will be open
to the public, and registration can be found on Eventbrite. The
winner will be selected by P&G executives Leigh Radford, Vice President and General
Manager at P&G Ventures, and Julie
Setser, Vice President of R&D at P&G Ventures, and
Pete Blackshaw, CEO of Cintrifuse, a
syndicate "fund of funds" and startup incubator in Greater Cincinnati. The winner will receive
$10,000 and a chance to partner with
P&G Ventures.
P&G Ventures will be leveraging the KITE SRM platform and
operating system to help identify, recruit, evaluate, and select
this year's finalists. Submissions will be accepted between
Thursday, May 21 and Sunday, June 7, 2020.
The P&G Ventures Innovation Challenge debuted at CES 2019 as
a way to spotlight the entrepreneurs who share P&G Ventures'
dedication to developing solutions that will improve how consumers
live.
As entrepreneurs and startups grapple with the effects of the
novel coronavirus, P&G Ventures remains committed to equipping
them with the resources, expertise, and guidance needed to continue
developing their ventures. The Virtual Innovation Challenge
provides entrepreneurs with an opportunity to share their ideas on
a larger platform during these uncertain times.
"COVID-19 has changed the way we live and how businesses
operate. Innovation stems from being able to adapt quickly to
changing circumstances," says Leigh
Radford. "We're dedicated to helping entrepreneurs navigate
through this pandemic and it starts by giving them an outlet to
continue sharing their innovations. That's why P&G Ventures is
empowering entrepreneurs and startups where they are—at home."
Established in 2015, P&G Ventures partners with
entrepreneurs, inventors, and startups to discover and create
consumer products, brands, and businesses that solve people's needs
in categories new to P&G. Each P&G Ventures partnership is
unique, providing funding and access to P&G's experts,
resources, and capabilities to help partners find their best
customers, prove their technology, and create their brand.
P&G Ventures is looking for fast-moving, consumable
technologies that create meaningful differences in consumers'
lives. P&G Ventures is uniquely interested in categories that
are outside those where P&G currently provides solutions today.
Some areas of interest include: chronic conditions, sleep,
non-toxic home and garden, women's wellness, personal performance,
active aging, male wellness, and menopause. Ideal submissions
contain a product that is used daily or almost daily, provides
noticeable superiority, and has an ownable efficacy benefit that
solves a massive consumer problem in a way no other product has
been able to before.
Submissions will be accepted at ventureschallenge.com between
Thursday, May 21, 2020 at
9:00 a.m. ET and Sunday, June 7, 2020 at 11:59 p.m. ET from legal residents of the 50
United States and the District of
Columbia. For more information about how to enter, including
contest rules and regulations, please visit: ventureschallenge.com.
To stay up-to-date on the Virtual Innovation Challenge timing and
news, follow P&G Ventures on LinkedIn and Twitter,
@PGVstudio.
About Procter and Gamble:
P&G serves consumers
around the world with one of the strongest portfolios of trusted,
quality, leadership brands, including Always®, Ambi Pur®, Ariel®,
Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®,
Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®,
Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G
community includes operations in approximately 70 countries
worldwide. Please visit http://www.pg.com for the latest news and
information about P&G and its brands.
Media Contact:
Rick
Mason, mason.rj.3@pg.com, +1-513-824-5323
Fiona Chau,
pgventures@bulleitgroup.com, +1-626-905-8552
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SOURCE Procter & Gamble