P&G announces Rs 300-cr fund for startups

FMCG maker Procter & Gamble India on Thursday announced a Rs 300 crore fund to collaborate with external partners and innovators for co-creating solutions for a modern supply chain ecosystem.

P&G Supply Chain Catalyst Fund will provide an opportunity to startups and innovators to collaborate with Procter & Gamble (P&G) India on customising business solutions, accelerating its journey towards Supply 3.0 initiatives, said a statement from the company. This is a part of Rs 1,800 crore committed in business solutions through vGROW, in which the maker of brands like Gillette, Whisper, Vicks is investing in small businesses, individuals and large organisations offering innovative solutions. “The announcement is in line with the Prime Minister’s Gati Shakti initiative, which is an endeavour towards multi-modal connectivity in the country that will enhance seamless movement of goods and services through targeted interventions,” the statement said. Commenting on the development, P&G India Subcontinent CEO L V Vaidyanathan said through this fund, the company is focused on co-creating innovative solutions that enhance the very backbone of its operations - the supply chain.

“We are confident that focused interventions in the supply chain will have a positive impact on our overall priorities including constructive disruption and productivity,” he said. P&G India had launched vGROW six years ago 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, he said. “With this fund, we have committed spends of more than Rs 1,800 crore to date in business solutions through vGROW.

We strongly believe that a healthy dissatisfaction with the status quo will help us raise the bar on constructive disruption and better serve consumers, customers, and communities,” Vaidyanathan said. Through the vGROW platform, P&G engages with over 2,300 suppliers including startups, small businesses, and large organizations from a wide range of industries and services - from creative agencies to technology partners to material suppliers.