P&G Ventures Announces Winner of Fifth Innovation Challenge

A first-of-its-kind biotechnology company won P&G Ventures’ Fifth Innovation Challenge in July.

Challenge winner NanoSpun Technologies develops and produces disruptive, live-active biological tissues for skincare, medical and industrial applications. They will receive $10,000 and the opportunity to continue developing their product and brand under the guidance of P&G Ventures. Read more from the Cincinnati Business Courier.

“NanoSpun is honored to be selected as the winner of P&G Ventures’ Innovation Challenge,” said Founder and CEO Ohad Bendror (Bendas). “I’m grateful for the opportunity to present our innovation alongside other passionate and inspiring entrepreneurs, and to receive support from P&G – a company that has played a key role in the development of so many successful brands.”

In addition to NanoSpun Technologies, the latest cohort of Innovation Challenge finalists include:

• One Skin, based in San Francisco, CA and represented by Co-Founder Juliana Carvalho, is the first topical supplement designed to extend your skin’s lifespan on a molecular level, improving skin health and strength, and providing users with youthful skin for longer.
• Ready, Set, Food!, based in Los Angeles, CA and represented by CEO & Co-Founder Daniel Zakowski, is a ground-breaking solution to early allergen introduction, making it easy for families to follow new food allergy prevention medical guidelines.
• Wellesley Pharmaceuticals, based in Yardley, PA and represented by CEO & President David Dill, created Nocturol™ – a pill designed to provide 8 hours of protection for those who suffer from frequent bathroom trips overnight.

Finalists had the opportunity to pitch their startups to a panel of expert 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 & Development at P&G Ventures; and Michael Olmstead, Chief Revenue Officer of Plug and Play. Pitches were followed by a question-and-answer session, where judges got a closer look into the visions, goals and passions of these entrepreneurs. Read more about the P&G Ventures Innovation Challenge from Venture Beat.

All of the competition’s finalists will be joining alumni from past Innovation Challenges in P&G Ventures’ Alumni Group. This assembly of entrepreneurs will continue to receive training, support and resources from P&G Ventures, as well as the opportunity to network amongst some of the most promising CPG startups across a variety of sectors.

P&G Ventures is always looking for the next billion-dollar brand, and the Innovation Challenge is just one of the ways they connect with innovators. Read more about the P&G Ventures Innovation Challenge from Happi.

Venture’s Betancourt said the Innovation Challenges have become a key way for P&G Ventures to connect with early-stage brands, businesses and startups in the fast-moving consumer goods space.

“P&G is committed to improving the lives of our customers, and at P&G Ventures we partner with startups who share that mission,” Betancourt said. “We congratulate NanoSpun for winning our latest challenge, and we applaud all the finalists on their efforts. We can’t wait to see where you go with your innovations.”

“Recognition from P&G and the support and opportunity to work with P&G Ventures is invaluable, and we are excited to build a relationship with them,” said NanoSpan’s CEO Bendas.

The entire Innovation Challenge is available to view here.

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