Procter & Gamble India sets up innovation sourcing fund

: Procter & Gamble (P&G) IndiaThursday announced that it has set-up a multi-million dollar innovation sourcing fund to collaborate with externalpartners on 'disruptive and innovative' business solutions for the company.

With this announcement, P&G launched 'vGROW', its first programme in the country, to identify and collaborate with start-ups, small businesses,individuals or large organisations offering innovativeindustry-leading solutions, a press release said.

"We are confident of our initiative 'vGROW' and our innovation sourcing fund identifying and implementing cutting-edge solutions that are astrategic fit for us on our journey to grow," the release quoted managing director and chief executive officer of P&GIndia sub-continent Madhusudan Gopalan said.

The company would come up with innovative solutions through external business partnerships and also launch itsonline platform 'P&G Hackathon', the release said.

The hackathon would connectexternal business partners to the needs of the company and enable start-ups, small businesses and large organisations to pitch their innovative solutions to P&G and secure business opportunities, the release added.