By Ben Wiegand, Vice President, Consumer R&D Strategy
We are excited to announce a new collaboration with the crowdfunding platform CircleUp to help identify transformative early-stage consumer companies working in areas of strategic interest to Johnson & Johnson Consumer Companies.
Creating value through innovation is a core growth driver across Johnson & Johnson, and that means working to identify the best internal and external innovation opportunities.
Johnson & Johnson’s Consumer area has many of the world’s most identified products, and a legacy of fulfilling high consumer needs and demands. These needs continuously evolve, and we look to anticipate them by launching new and important products.
When seeking innovation externally, we look broadly and also in fresh ways. Crowdfunding represents an entirely new pathway for building a company with innovative products and services, and CircleUp is at the forefront of this new movement.
CircleUp curates companies who pay a great deal of attention on product development, and works to match their companies with value-added investors who can offer mentorship and guidance.
This strategy is particularly interesting to us as we like to provide entrepreneurs with a broad array of resources to help them be successful, and to increase the potential of working together to find ways to commercialize their product or service.
CircleUp companies are also working across many areas of interest to consumers, and so are we. When speaking with entrepreneurs we say that we are strategic investors, which can at first seem like we are limited in the scope of innovation we are seeking. But as the world’s largest healthcare company, we have a broad consumer portfolio with many important areas, including Baby Care; Oral Care; Skin Care; Women’s Health; Wound Care; and Over-the-Counter Products.
We are continuously seeking transformative innovation across all of these areas, and are looking forward to participating in CircleUp incubator days and other activities to help companies on their journey to fulfilling consumer needs.
See Wall Street Journal Article: Johnson & Johnson Partners with CircleUp for Early Look at Startups
See Entrepreneur Magazine Article: What Does a Multibillion-Dollar Corporation Want With Crowdfunding?