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P&G Ventures, the internal startup studio of Procter & Gamble, named “second skin” startup Nanospun Technologies as the winner of its Virtual Innovation Challenge today.
The company was one of four finalists in a competition overseen by P&G Ventures, which highlights startups in sectors where the consumer products giant does not yet compete. P&G Ventures said they believe the finalists all have the power to revolutionize the way consumers live, age, and care for themselves and their families.
Ohad Bendror, CEO of NanoSpun Technologies, made the pitch for his company. The Israel-based company develops “live active skincare products” based on a bioprinting technology, and its products are made out of live cells and organisms. The company says it is harnessing the power of biology and industrial tech to create a skincare face mask. The face mask market is estimated to be $1.4 billion by 2024, according to market researcher KBV Research.
NanoSpun says its mask provides microbiome protection, enhancing the skin as a key barrier between ourselves and the environment. The skin microbiome is the good bacteria on our skin, and it releases healthy materials such as vitamins, acids, and proteins. A healthy microbiome increases hydration, elasticity, and anti-aging, Bendror said in a presentation. It also decreases wrinkles, ultraviolet damage, and sensitivity.
To support that microbiome, NanoSpun is creating “second skin” products which are live, active probiotics that release fresh, active compounds for the skin. “It boosts skin health and beauty,” Bendror said.
The company will sell the mask under its own brand and license it to others. It is completing skin model testing and will start selling the product next year, Bendror said.
Virtual Innovation Challenge finalists
The other Virtual Innovation Challenge finalists included Wellesley Pharmaceuticals, headed by CEO David Dill. His company designed Nocturol, a pill designed to provide as much as eight hours of relief for those who need to make frequent bathroom trips overnight. The pill is awaiting the results of clinical trials.
Another candidate was Ready, Set, Food. CEO Daniel Zakowski said the company wants to end food allergies. It is making an early food allergen system that gently introduces a baby to peanut, egg, and milk in the form of a daily supplement. Designed by a team of physicians and parents, the aim is to make early allergen introduction as safe and easy as possible for families as they strive to decrease allergen risk in children.
Juliana Carvalho, cofounder of One Skin, said her company is making a topical supplement designed to extend your skin’s lifespan on a molecular level, purporting to improve skin health and strength and give users more youthful-looking skin for longer. The product is vegan and cruelty-free, and developed by a team of female PhDs.
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