Procter & Gamble India announces setting-up online platform for innovative solutions- Hackathon, along with multi-million-dollar fund and vGROW programme
Leading FMCG company, Procter & Gamble India (P&G India) has announced about its plan of setting-up multi-million-dollar fund which aims to focus on investing on innovative business solutions and Indian startups. The exact amount of the fund has not been disclosed yet.
Collaborative partnership programme – vGROW
Along with the announcement of “Innovative Sourcing Fund”, P&G India also launched its first collaborative partnership programme ‘vGROW’’ in India, which focuses on collaborating with startups, small businesses, individuals or large organizations to offer innovative industry-leading solutions.
P&G India also hosted ‘vGROW External Business Partner Summit’ in Mumbai on October 10-11, in line with the launch of the programme and fund announcement. This summit basically focused on new and innovative ideas for multiple areas such as superior brand marketing, supply chain solution, raw material innovations for consumers, productivity ideas etc
Online platform for innovative solutions – Hackathon
P&G India also came up with other future plan and announced ‘P&G Hackathon’ which will provide innovative solutions via external business partnerships. This platform will will create a collaborative ecosystem by connecting external business partners to the company’s needs. P&G Hackathon is an online platform which will help small-businesses, start-ups and large organisations shape their innovative solutions under P&G leadership and make business opportunities for the organisation.
To mark the launch of the event, Madhusudan Gopalan, MD & CEO, P&G India Sub-Continent said, “Innovation is deeply embedded in everything that we do at P&G. We believe that collaboration accelerates Innovation and the biggest wins come when all the stakeholders in the ecosystem work together. This is an exciting time to be in India with the way consumer behavior is evolving in a dynamic market. The Indian market that has been at the forefront of innovation in recent years continues to be a priority for the company globally. We are confident that through our initiative ‘vGROW’ and our ‘Innovation Sourcing Fund’, we will be able to identify and implement cutting-edge solutions that are a strategic fit for us on our journey to grow sustainably. We will continue to provide consumers with superior value propositions and continue to positively impact the communities’ we operate in.”