Four finalists have been named for Procter & Gamble Co.’s ongoing innovation challenge.
P&G Ventures, P&G’s early-stage startup studio, has announced the finalists in its latest Innovation Challenge, which will take place virtually July 14. Applicants entered consumer packaged goods in areas where P&G does not currently compete, such as active aging, safe and effective germ protection, and non-toxic home and garden.
The finalists are:
- NanoSpun Technologies: a Los Altos, Calif.-based company that develops and produces disruptive, first-of-its-kind, live-active biological tissues for skincare, medical and industrial applications. NanoSpun Technologies is represented by founder and CEO Ohad Bendror (Bendas),
- One Skin: a San Francisco-based company that has developed the first topical supplement designed to extend skin's lifespan on a molecular level, improving skin health and strength, giving users youthful skin for longer. One Skin is represented by co-founder Juliana Carvalho,
- Ready, Set, Food!: a Los Angeles-based company creating a solution to early allergen introduction, making it easy for families to follow new food allergy prevention medical guidelines. Ready, Set, Food! is represented by CEO and co-founder Daniel Zakowski.
- Wellesley Pharmaceuticals: a Newtown Grant, Pa.-based company which has designed Nocturol, a pill designed to provide eight hours of protection for those who suffer from frequent bathroom trips overnight. Wellesley Pharmaceuticals is represented by CEO and president David Dill.
The four finalists, which are competing for a $10,000 prize and an opportunity to work with P&G Ventures to develop their product, will present their business idea to a panel of five judges, including:
- Alex Betancourt, vice president of P&G Ventures
- Anu Duggal, founding partner of Female Founders Fund
- Mike Jensen, senior vice president of research and development
- Michael Olmstead, chief revenue officer of Plug and Play tech center
- Clarence Wooten, co-founder and general partner of Revitalize Venture Studio
P&G Ventures initially expected to select three finalists but decided on four as a result of a particularly competitive group of entrants this round. The startup studio also selected four finalists in the last Innovation Challenge held in January 2021. SAVRpack, a San Juan Capistrano, Calif.-based food packaging company, was that event's winner.
"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,” Bill Birgen, who represented SAVRpack in the challenge said in a release. “Winning the P&G Ventures competition brought with it another level of validation and credibility."
This iteration will be the fifth Innovation Challenge. P&G Ventures was established in 2015. The first challenge was held in January 2019 in conjunction with the annual CES event, an annual trade show organized by the Consumer Technology Association.
The challenge will be held online 1-2 p.m. July 14. To register, click here.
