12.13.16
Johnson & Johnson is partnering with HAX, a Shenzhen, China-based support and consultancy service for startups, to offer health-related mentoring and access to its business networks. Under terms of the agreement, 15 startups will be selected by the accelerator, or incubator, for a four-month program in Shenzhen, giving them access to J&J’s suppliers and manufacturers. The program will be run twice a year.
J&J invests $8 billion annually on research and development, but John Bell, VP-external innovation and new business models at Johnson & Johnson Consumer, said the company is looking to outside sources to keep its technology fresh.
“What we are learning is that doing everything on your own is no longer possible. We have found out the hard way every now and then that if you try to do everything, it doesn’t work,” Bell said, announcing the program in Hong Kong.
“We are really focused on working together with the external world to co-create new innovations.”
Bell said J&J is certainly open to working with startups that fall outside of its traditional core areas of focus, depending on consumer demand, highlighting areas such as anti-aging or improving the quality of sleep.
J&J invests $8 billion annually on research and development, but John Bell, VP-external innovation and new business models at Johnson & Johnson Consumer, said the company is looking to outside sources to keep its technology fresh.
“What we are learning is that doing everything on your own is no longer possible. We have found out the hard way every now and then that if you try to do everything, it doesn’t work,” Bell said, announcing the program in Hong Kong.
“We are really focused on working together with the external world to co-create new innovations.”
Bell said J&J is certainly open to working with startups that fall outside of its traditional core areas of focus, depending on consumer demand, highlighting areas such as anti-aging or improving the quality of sleep.
