P&G Ventures Announces Four Finalists in Latest Innovation Challenge

Rhea-AI Summary

P&G Ventures has revealed four finalists for its 2021 Innovation Challenge, set for July 14. Chosen from numerous applicants, these startups are addressing consumer issues in categories like active aging and non-toxic home products. The finalists include NanoSpun Technologies, One Skin, Ready, Set, Food!, and Wellesley Pharmaceuticals. The winner will receive a $10,000 prize and support to further develop their product. This initiative underscores P&G's commitment to innovation and collaboration within the consumer goods sector.

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• P&G Ventures announces four finalists showcasing innovative solutions for consumer pain points.
• The challenge encourages partnerships with startups, enhancing P&G's innovation pipeline.
• The winner receives a $10,000 prize and ongoing development support from P&G Ventures.

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• None.

CINCINNATI, June 24, 2021 /PRNewswire/ -- P&G Ventures, the early stage startup studio within P&G (NYSE:PG), has announced the four finalists in its latest Innovation Challenge, which will be held online on Wednesday, July 14 at 1pm ET.

These four finalists were chosen from a competitive pool of applicants whose products are solving consumer pain points in categories such as active aging, safe and effective germ protection, non-toxic home and garden, as well as other consumer packaged goods spaces where P&G doesn't currently compete.

The finalists will pitch their businesses to a panel of expert judges who will determine the winner. The panel includes Alex Betancourt, Vice President, P&G Ventures; Anu Duggal, Founding Partner, Female Founders Fund; Mike Jensen, Senior Vice President of Research & Development, P&G Ventures; Michael Olmstead, Chief Revenue Officer, Plug and Play; and Clarence Wooten, Co-founder and General Partner, Revitalize Venture Studio.

The winner will receive a $10,000 prize and the opportunity to continue developing their product with P&G Ventures.

The 2021 P&G Ventures Innovation Challenge finalists are:

• NanoSpun Technologies, based in Los Altos, CA and represented by Founder & CEO Ohad Bendror (Bendas), develops and produces disruptive, first-of-its-kind, live-active biological tissues for skincare, medical and industrial applications.
• One Skin, based in San Francisco, CA and represented by Co-Founder Juliana Carvalho, is the first topical supplement designed to extend your skin's lifespan on a molecular level, improving skin health and strength, giving users youthful skin for longer.
• Ready, Set, Food!, based in Los Angeles, CA and represented by CEO & Co-Founder Daniel Zakowski, is a ground-breaking solution to early allergen introduction, making it easy for families to follow new food allergy prevention medical guidelines.
• Wellesley Pharmaceuticals, based in Newtown Grant, PA and represented by CEO & President David Dill, designed Nocturol™ – a pill designed to provide 8 hours of protection for those who suffer from frequent bathroom trips overnight.

Bill Birgen, winner of P&G Ventures' Innovation Challenge held in January 2021 during CES, said, "Being selected as a finalist by P&G Ventures gave the SAVRpak team access to some great P&G resources, specifically with regards to sustainability. Winning the P&G Ventures competition brought with it another level of validation and credibility."

Birgen and his cohort of finalists are the most recent additions to the P&G Ventures Innovation Challenge alumni group— more than a dozen previous winners and finalists who receive access to ongoing training, support and resources from P&G Ventures.

For more information about how to tune in and watch the challenge on July 14 from 1:00-2:30 PM ET, please visit ventureschallenge.com and register on Eventbrite. To stay up-to-date on all Innovation Challenge timing and news, follow P&G Ventures on LinkedIn and Twitter.

About P&G Ventures
Established in 2015, P&G Ventures partners with entrepreneurs, inventors, and startups to discover and create consumer products, brands, and businesses that solve consumer needs in areas 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 prove their technology and create their brand.

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:
Jennifer Byrne, byrne.jr@pg.com
Taylor Anderson, pgventures@bulleitgroup.com

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SOURCE Procter & Gamble

FAQ

What is the P&G Ventures Innovation Challenge 2021?

The Innovation Challenge is an event where startups pitch solutions to consumer problems, with finalists competing for a prize.

Who are the finalists in the 2021 P&G Ventures Innovation Challenge?

The finalists are NanoSpun Technologies, One Skin, Ready, Set, Food!, and Wellesley Pharmaceuticals.

When will the P&G Ventures Innovation Challenge take place?

The challenge will occur online on July 14, 2021, at 1 PM ET.

What prize does the winner of the P&G Ventures Innovation Challenge receive?

The winner will receive a $10,000 prize and support to further develop their product.

How does P&G Ventures support startups?

P&G Ventures provides funding, resources, and access to expertise to help startups grow and develop products.