The systematic architect and builder XL TechGroup announced the formation of a strategic relationship with The Procter & Gamble Company to explore new business opportunities using early stage technologies to address unmet market needs.
Consistent with P&G's "Connect + Develop" strategy aimed at accelerating innovation, this deal will couple portions of P&G's vast portfolio of Intellectual Property with XL TechGroup's expertise in systematically developing new technology businesses and scaling them to liquidity.
XL TechGroup's business model identifies unmet business needs, finds a technology solution that has a high potential of market adoption, develops the business and then rapidly scales it to achieve maximum value.
"They are delighted to be extending our existing strong relationship with such a prestigious partner as P&G by entering into this agreement, and they have already identified the first platform technology to develop," said Dr. John Scott, XL TechGroup's CEO. "They are constantly searching for technologies to address unmet market needs and this provides us with an opportunity to evaluate some of P&G's early-stage IP that they might progress to market."
XL TechGroup and P&G have worked together previously to help universities commercialize technologies donated by P&G. "Based on the success of our previous relationship, they have added a new model whereby XLTG is commercializing these early stage technologies directly from P&G," said Greg Hillebrand, manager university relations, P&G.
marketing@alchempro.com
