P&G Tracks Startups

After more than 175 years, Procter & Gamble has a pretty good track record when it comes to new product concepts. But even the best in the business can use a little help. That's why P&G, along with other multinationals have teamed up with CircleUp Network, Inc. a San Francisco-based company that connects startups and investors.

Under terms of the agreement, CircleUp provides trend reports to P&G about startups in 18 categories. P&G uses the data to mentor these newbies or set up licensing deals or joint ventures. CircleUp doesn't accept every idea. In fact, since it was founded in 2011, the company has only accepted 2% of applicants. During the past year, CircleUp has helped nine startups raise $8.5 million in funding.