Nokia and P&G Among Companies Yo have Licenced R&D to Walgreens Boots Alliance Inc (NASDAQ: WBA) Ex-CEO’s Innventure

Innventure, co-formed by former Walgreens Boots Alliance Inc (NASDAQ: WBA) CEO Greg Wasson and the Wasson Enterprise,  is looking for innovations inside Corporate R&D labs with the objective of creating startups that will ultimately have its former owning company as a major customer.

Innventure established to identify disruptive techs with a $1B value 

Since its establishment in 2015, the corporate innovation investment business has evaluated over 100 technologies with global corporations, identifying disruptive techs with the capability to add over $1 billion in new corporate value in five years and address pressing needs. Through its Innventus Fund, it uses extra strategic investment and loans to fund new businesses.

The Finnish research division of Nokia Bell Labs has been researching a cooling and energy-saving system for data centres and mobile network hardware for more than ten years. That R&D endeavor made a significant stride outside of its holding company in June.

Innventure, a company that finances, runs, and manages businesses that have been spun off from large organizations, established Accelsius in Orlando to host the Nokia breakthrough as a stand-alone firm. This strategy of granting business R&D its own life is becoming more popular.

Innventure’s third joint venture was Nokia-born Accelsius 

The third joint venture of Innventure was the Nokia-born Accelsius, although the company’s founding partner was the enormous packaged goods giant Procter & Gamble. The Cincinnati-based company, founded in 1837 as a soap producer and popular for brands like Tide and Ivory, has recently expanded outside of these core operations.

P&G is collaborating with startup accelerators and investors to establish totally new organizations and categories using patented technologies from its R&D labs, which have a $1.9 billion R&D budget.

According to Valarie Sheppard, a former P&G treasurer and head of the company’s transition, the objective is to keep access to technological innovation as well as the economic return on capital. Sheppard oversaw the development of the company’s global business for several years and retired in March 2021. In the meantime, startups can leverage big, well-capitalized, resource-rich firms to gain facilities, market access, and industry expertise.

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Published by Neha Gupta

Swati has worked in diverse capacities from financial research to currency trading in a span of 3 years.

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