Nokia and P&G have granted a research and development license to Walgreens Boots Alliance Inc

29. 07. 2022 Friday / By: Robert Denes / Industrial / Exact time: BST / Print this page

I nnventure, co-founded by former Walgreens Boots Alliance Inc (NASDAQ: WBA ) CEO Greg Wasson and Wasson Enterprise, seeks innovation within corporate R&D labs with the goal of creating startups that ultimately owner's company will be the main customer.

Since its inception in 2015, the enterprise innovation investment business has evaluated more than 100 technologies with large global enterprises, identifying disruptive technologies that can add more than $1 billion in new enterprise value over five years and address pressing needs. Through its Innventus Fund, it uses extra strategic investments and loans to finance new businesses.

The Finnish research division of Nokia Bell Labs has been researching a cooling and energy-saving system for data centers and mobile network hardware for more than ten years. This research and development effort made significant progress outside of the holding company in June.

Innventure, a company that finances, operates and manages spin-offs from large organizations, founded Accelsius in Orlando to host the Nokia breakthrough as a stand-alone company. This strategy of giving business R&D a life of its own is becoming more and more popular.

Innventure's third joint venture was Nokia-born Accelsius, although the company's founding partner was the massive packaged goods giant Procter & Gamble. Founded in 1837 as a soap maker and popular with brands like Tide and Ivory, the Cincinnati-based company has recently expanded beyond those core businesses.

P&G works with startup accelerators and investors to create entirely new organizations and categories using proprietary technologies from its R&D labs, which have a $1.9 billion R&D budget.

Valarie Sheppard, P&G's former treasurer and head of the company's transition, said: "The goal is access to technological innovation and an economic return on capital. Sheppard oversaw the development of the company's global business for several years before retiring in March 2021. , they can rely on well-capitalized, resource-rich companies to acquire facilities, market access, and industry expertise."

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