Chennai: Procter & Gamble (P&G) India 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.
On close heels of the announcement, P&G also launched “vGROW”, it’s first program in India to focus on identifying and collaborating with start-ups, small businesses, individuals or large organizations offering innovative industry-leading solutions.
To mark the launch of the program, P&G is hosting the “vGROW External Business Partner Summit” in Mumbai till today. The summit will focus on innovative business ideas across various areas like agile supply chain solutions, raw material innovations, superior brand and marketing solutions for consumers, innovation on packaging, productivity ideas, a release said.
MD and CEO, P&G India Sub-Continent, Madhusudan Gopalan, 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.”