CINCINNATI, Jan. 6, 2022 /PRNewswire/ -- P&G Ventures,
the early-stage startup studio within Procter & Gamble
(NYSE:PG), announced Lady Patch as
the winner of the 2022 Innovation Challenge during the
exciting virtual CES event. Chosen from a record number of
submissions in the Innovation Challenge history, Lady Patch will be awarded the grand prize of
$10,000 and the opportunity to
partner with P&G Ventures to continue developing their
product.
Lady Patch, founded by
Cindy Santa Cruz and headquartered
in El, Segundo, CA, is
the only drug-free feminine patch that prevents bladder leaks
and the frequent urge to urinate. Lady
Patch began as Santa Cruz's
mother's invention as she had been using a prototype for years to
find relief. When Santa Cruz
became a mother and started dealing with incontinence, she decided
to begin reinventing the original prototype her mother had used
years before. Incontinence affects one in every three women around
the world, and Lady Patch is helping
to provide those affected with a solution to improve their quality
of life.
For the first time ever in addition to the grand prize winner,
the three additional finalists including Cybele
Microbiome, Kushae Naturals, and Ryp
Labs, were also awarded a $5,000 prize in recognition of their innovative
products.
"We are pleased to name Lady
Patch as the winner of this year's P&G Ventures
Innovation Challenge. We thought this product offered an
innovative solution to a problem that affects so many, and we're
very excited about the potential positive impact the product could
have on the lives of women around the world," said Guy Persaud, President of New Business for
Procter & Gamble. "This year's finalists were so outstanding
that we wanted to give them special recognition as well. The
Innovation Challenge is all about discovering and supporting ideas
coming from startups and entrepreneurs across the country, and we
are so inspired by all of this year's applicants and their efforts
to improve consumers' lives."
"Our company, Lady Patch, is
honored to be selected as the winner of the 2022 Innovation
Challenge," said Founder Cindy Santa
Cruz. "We are delighted to win the grand prize and receive
the opportunity to partner with P&G Ventures to continue
strategic development of our product and company to help better the
lives of women around the world. We are also grateful for the
chance to pitch our product ideas alongside these esteemed
companies with influential stories and innovative products."
The P&G Ventures Innovation Challenge took place virtually
during CES on Thursday, January 6th
in the P&G Ventures LifeLab. Lady
Patch and the additional three finalists pitched their
product ideas to a panel of expert judges
including Victor Aguilar, Chief
R&D and Innovation Officer for P&G; Guy Persaud, President of New Business,
P&G; Saeed Amidi, Founder
and CEO, Plug and Play Tech Center; Sarah Anderson, Founding Partner, Vault Fund;
and Lee Henderson, Americas EY
Private Leader and Executive Sponsor, EY Entrepreneurs Access
Network.
To watch a recording of the Innovation Challenge please visit,
youtube.com.
About P&G Ventures
Founded in 2015, P&G
Ventures is an early-stage startup studio within P&G that
creates new fast-moving-consumer goods brands and businesses in new
target categories by partnering internally or externally with
entrepreneurs, inventors, visionaries, founders and
start-ups. P&G Ventures has embraced Lean principles and
metered funding as it moves projects through the Discovery, Create,
Build, and Scale phases of development. To date we have four
brands (Zevo, Kindra, Bodewell and OPTE) that have entered Build
phase, either internally within P&G or externally with our
partner M13's Launchpad. To learn more about P&G Ventures, go
to PGVenturesStudio.com or follow us on LinkedIn and Twitter.
About Procter & Gamble
P&G serves consumers
around the world with one of the strongest portfolios of trusted,
quality, leadership brands, including Always®, Ambi
Pur®, Ariel®, Bounty®,
Charmin®, Crest®, Dawn®,
Downy®, Fairy®, Febreze®,
Gain®, Gillette®, Head &
Shoulders®, Lenor®, Olay®,
Oral-B®, Pampers®, Pantene®,
SK-II®, Tide®, Vicks®, and
Whisper®. The P&G community includes operations in
approximately 70 countries worldwide. Please visit
http://www.pg.com for the latest news and information about P&G
and its brands.
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SOURCE P&G Ventures