Procter & Gamble on the hunt for Singaporean start-ups as it announces US$12 million pot

Procter & Gamble on the hunt for Singaporean start-ups as it announces US$12 million pot

Procter & Gamble is seeking out Singaporean start-ups with the potential to go global, according to a report published by The Straits Times. The US FMCG giant is said to have earmarked a US$12 million pot to invest in ‘at least’ three local businesses.

The owner of Pantene and SK-II revealed that the investment would be made via a new Singaporean branch of its venture-building arm, GrowthWorks with some US$4 million of the investment funding a team on the ground to hunt down brands, technology platforms and business models while US$8 million would act as a seed fund.

“We aspire to innovate faster for our Asian consumers and to continue contributing to the innovation ecosystem here in Singapore,” Kathy Fish, Chief Research, Development and Innovation Officer Kathy Fish told The Straits Times.

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