P&G India announces Rs. 200 Cr ‘Technovate Fund’ to drive constructive disruption

HYDERABAD: Procter & Gamble (P&G) India announced a ‘P&G Technovate Fund’ worth Rs. 200 Cr to solve business challenges by fostering innovation and leveraging innovative technology in collaboration with existing and new external suppliers.

With this announcement, the Company also launched the fifth edition of ‘P&G vGrow External Business Partner Summit,' held from November 1-2. The summit offered a platform to existing and new suppliers to pitch their solutions to P&G India’s leadership team.

LV Vaidyanathan, CEO, P&G India Subcontinent said, “Driving consistent innovation and evolving constantly with time have been key strengths for us at P&G for the last 185 years. Five years ago, we launched ‘vGrow’ – with a vision to create a platform to foster collaboration and partnerships with external partners and suppliers, to solve business challenges and provide a breeding ground to emerging startups across the country. Over the years, we have committed spends of more than Rs. 1300 Crore in business solutions through this platform.

“We strongly believe that by forging partnerships with new-age, innovative and sustainable solutions, we have been able to create and deliver superior value for our consumers, customers, partners, and communities alike,” he added.

vGrow is P&G’s first-of-its-kind platform to identify and collaborate with businesses and individuals offering industry-leading solutions. Through this platform, P&G engages with over 2300 suppliers including start-ups, small businesses, and large organizations from a wide range of industries and services - from creative agencies to technology partners to material suppliers.