CINCINNATI, May 21, 2020 /PRNewswire/ -- P&G Ventures, the early-stage startup studio within P&G (NYSE:PG), is inviting entrepreneurs, inventors, and startups to submit a product pitch for its first-ever Virtual Innovation Challenge. The challenge, now in its third iteration, seeks out budding entrepreneurs who are driving the next generation of technologies that will change consumers' lives, and helps fuel innovation amidst the global pandemic.
Three finalists will be selected to pitch online to a panel of judges on June 24, 2020 at 1 p.m. ET. The broadcast will be open to the public, and registration can be found on Eventbrite. 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.
P&G Ventures will be leveraging the KITE SRM platform and operating system to help identify, recruit, evaluate, and select this year's finalists. Submissions will be accepted between Thursday, May 21 and Sunday, June 7, 2020.
The P&G Ventures Innovation Challenge debuted at CES 2019 as a way to spotlight the entrepreneurs who share P&G Ventures' dedication to developing solutions that will improve how consumers live.
As entrepreneurs and startups grapple with the effects of the novel coronavirus, P&G Ventures remains committed to equipping them with the resources, expertise, and guidance needed to continue developing their ventures. The Virtual Innovation Challenge provides entrepreneurs with an opportunity to share their ideas on a larger platform during these uncertain times.
"COVID-19 has changed the way we live and how businesses operate. Innovation stems from being able to adapt quickly to changing circumstances," says Leigh Radford. "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."
Established in 2015, P&G Ventures partners with entrepreneurs, inventors, and startups to discover and create consumer products, brands, and businesses that solve people's needs in categories 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 find their best customers, prove their technology, and create their brand.
P&G Ventures is looking for fast-moving, consumable technologies that create meaningful differences in consumers' lives. P&G Ventures is uniquely interested in categories that are outside those where P&G currently provides solutions today. Some areas of interest include: chronic conditions, sleep, non-toxic home and garden, women's wellness, personal performance, active aging, male wellness, and menopause. Ideal submissions contain a product that is used daily or almost daily, provides noticeable superiority, and has an ownable efficacy benefit that solves a massive consumer problem in a way no other product has been able to before.
Submissions will be accepted at ventureschallenge.com between Thursday, May 21, 2020 at 9:00 a.m. ET and Sunday, June 7, 2020 at 11:59 p.m. ET from legal residents of the 50 United States and the District of Columbia. For more information about how to enter, including contest rules and regulations, please visit: ventureschallenge.com. To stay up-to-date on the Virtual Innovation Challenge timing and news, follow P&G Ventures on LinkedIn and Twitter, @PGVstudio.
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