Hindustan Unilever limited, one of the lead players in FMCG sector, has officially announced about partnering technology-focused startups as a business imperative to rediscover itself and be relevant in a market where modern technologies are challenging business overnight.
The maker of Dove soap, Sunsilk shampoo and Lipton tea has short-listed ten startups that can get access to a part of its business, mentors and other resources. HUL can benefit from new technologies that will help the company in.
"It is all about â€™pioneering the futureâ€™ with startups which are relevant for our business. HUL has a long heritage of â€™experimenting, planning & perfectingâ€™ the capabilities which support the future of our business whilst startups typically launch and learn," said Sanjiv Mehta, CEO and managing director of HUL
One may think what can a business conglomerate can possibly gain from startups, but from HULsâ€™ point of view, ideas from startups can come handy across operations such as marketing, advertising and distribution, giving it an edge over rivals that still rely mostly on in-house experts for key business decisions. Experts say that this decision will also help HUL shift its rigid corporate mindset to ingest the agility and mentality of startups in the business.