Johnson & Johnson Innovation, which aims to develop healthcare solutions that encourage idea-sharing and required support, teams up with the Hax development programme to harness new technology concepts for the personal care sector.
The partnership will co-accelerate consumer healthcare-related companies and their technologies at Hax’s hardware programme located in Shenzhen, Guangdong Province, China.
Innovative technology initiative
Building on the renowned experience and recognised market leader of Johnson and Johnson and Hax’s active investment position, the programme, named ‘Health Track’, aims to provide support and help propel start-ups relevant to Johnson & Johnson’s key sectors including skin care products and technologies.
The hardware accelerator will provide startup companies with mentoring, information and networking opportunities, along with offering early-stage seed funding and office space. Johnson & Johnson and Hax will also provide all aspects of strategy management including prototyping, sourcing, supply chain, marketing and PR.
In turn, the chosen startups will give an agreed amount of equity to Hax and Johnson & Johnson to propel their commercialisation and growth.
As bridging the gap between technology and people is high on the agenda for personal care brands, market company Mintel reports that augmented human will be a key trend over the current forecast period through to 2025.
The sector, as a whole, will focus R&D and innovations on smart technologies that equip consumers with increased control over product choice and regimes.
Personal care conglomerate, Johnson & Johnson, has prioritised investment in new technology in recent years. In 2014, the company invested $20 mn (€18.98 mn) in startup La Lumiere, the illuMask developer, which provided consumers with an innovative wearable light therapy mask.
Hax and Johnson & Johnson’s startup programme, which is now open for entries until 21st December 2016, will commence in Spring 2017.
The duo’s programme requires the successful applicants to build and show a proof-of-concept prototype, before relocating to Shenzhen, China for the entirety of the programme.