P&G announces ‘build studio’ as it seeks to ramp up product innovation

Procter & Gamble is set to open a physical business incubator as part of P&G Ventures as a central plank of efforts to “disrupt the way we innovate”.

Procter & Gamble is set to open a physical business incubator as part of P&G Ventures as a central plank of efforts to “disrupt the way we innovate”.

The studio would partner with M13, a Los Angeles-based brand foundry and venture investor, chief financial officer Jon Moeller said in a presentation to the Consumer Analyst Group of New York conference in Florida.

The studio, would leverage external start-up capabilities and funding to support the growth of selected brands developed by P&G Ventures.

“P&G Ventures will continue to own the creation of consumer-inspired innovations and concepts. The studio will incubate and develop selected brands into sustainable businesses that can eventually be folded back into our six business units.”

“For the first time, P&G showcased how we’re integrating cutting-edge technologies into products and services that will transform people’s lives,” Moeller said.

“Superiority and productivity are critical but insufficient to keep us ahead in a world with a rapidly changing retail environment, quickly evolving consumer needs, media ecosystem transformation and revolutionary changes in technology. We must and are leading constructive disruption of our industry across all areas of the value chain.”

P&G had been in the top 2% most searched exhibitors at CES (Consumer Electronics Show), and its participation in the event had led to 273 media placements, more than seven billion earned impressions and more than 500 customer and partner leads.

Image Source: Precision Scent Control, Campaign Live, www.campaignlive.co.uk, 21st February 2019