Procter & Gamble (P&G) India on Thursday announced that it has set-up a multi-million dollar innovation sourcing fund to collaborate with external partners on ‘disruptive and innovative’ business solutions for the company.
With this announcement, P&G launched ‘vGROW’, its first programme in the country, to identify and collaborate with start-ups, small businesses, individuals or large organisations offering innovative industry-leading solutions, a press release said.
“We are confident of our initiative ‘vGROW’ and our innovation sourcing fund identifying and implementing cutting-edge solutions that are a strategic fit for us on our journey to grow,” the release quoted managing director and chief executive officer of P&G India sub-continent Madhusudan Gopalan said.
The company would come up with innovative solutions through external business partnerships and also launch its online platform ‘P&G Hackathon’, the release said.
The hackathon would connect external business partners to the needs of the company and enable start-ups, small businesses and large organisations to pitch their innovative solutions to P&G and secure business opportunities, the release added.