P&G's Innovation Challenge Takes Virtual Turn

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P&G's Innovation Challenge Takes Virtual Turn

By Mike Troy - 05/26/2020

Procter & Gamble is going virtual with the third iteration of its Innovation Challenge to discover entrepreneurs who are driving the next generation of technologies to change consumers’ lives.

P&G Ventures, the early-stage startup studio within P&G, introduced the Innovation Challenge at CES 2019 as a way to identify entrepreneurs who share P&G Ventures' focus on developing solutions to improve how consumers live. Entrepreneurs, inventors and startups who fit that bill have until June 7 to submit their nominations

Three finalists will be selected to pitch online to a panel of judges on June 24, 2020 at 1 p.m. ET during a broadcast that will be open to the public. 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.

"COVID-19 has changed the way we live and how businesses operate. Innovation stems from being able to adapt quickly to changing circumstances," said Radford, a 29 year P&G veteran. "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."

P&G Ventures was established in 2015 to identify fast-moving, consumable technologies that create meaningful differences in consumers' lives. The venture arm is especially interested in categories that are outside those where P&G currently operates.