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Procter & Gamble - Source: ONE News -
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Executives from US multi-national Procter & Gamble are in New Zealand this week looking for more innovative Kiwi companies to collaborate with.
Proctor & Gamble runs a global innovation programme, Connect and Develop, with external companies.
Jeff Weedman, head of external business development, says the company has a "voracious appetite" for bringing new products and technologies to consumers.
"We've decided that we really can't do it all ourselves, so isn't is better to pair up with some of the world's leading technology companies in order to better serve our consumers?" he says.
The company works with businesses of all sizes from garage inventors to universities and multi-nationals.
"We also like to do business with regional powerhouses that may be strong in their part of the globe but may not have the means to take it global, and so we'll work the deal so it's a good transaction for both Procter & Gamble and our partner," says Weedman.
Last year, the company had around 4,000 unsolicited submissions via its Connect and Develop website, but only 27 of those came from New Zealand.
"Based on the innovation that we've seen coming out of New Zealand, I don't think is enough. We need to do better down here," says Weedman.
Weedman says the low turnout may be due to businesses and inventors being nervous about their intellectual property rights.
However, he says Procter & Gamble is careful to protect both
sides and enters into non-disclosure agreements once there is
sufficient interest.
