Procter & Gamble, the FMCG giant, now partners with third parties in over 80 percent of its innovation activity, as part of a wide-ranging transformation of the company's activity in this area.

The owner of Tide and Pampers spends more than USD2 billion on research and development every year, a figure it suggests doubles that of its nearest rival, alongside GBP500 million (USD 787.75m) on generating consumer insights.

One key aspect of P&G's activity in this field has been the Connect+Develop platform, set up in 2000 with the aim of gathering 50 percent of ideas from outside sources, be it individuals, firms or universities.