Johnson & Johnson teams up with Shenzhen accelerator HAX to support health care start-ups
US health care firm says it is looking outside its core product lines to keep its technology fresh
Johnson & Johnson, the US health care products giant, is joining forces with Shenzhen-based HAX, a support and consultancy service for start-ups, to offer health-related mentoring and access to its business networks.
The partnership will see around 15 start-ups selected by the accelerator, or incubator, for a four-month programme in Shenzhen, giving them access to J&J’s suppliers and manufacturers. The programme will be run twice a year.
Famous for its baby products, J&J invests $8 billion annually on research and development, but John Bell, its vice president external innovation and new business models at Johnson & Johnson Consumer, said the company is now keen to look 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 programme 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 start-ups 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.
