Reckitt, the U.K. company behind Lysol and Mucinex, has launched a social impact investment program in the U.S.
Catalyst represents a five-year commitment to provide 10 million pounds sterling in funding, or $13.3 million, plus mentorship opportunities for early-stage companies and underrepresented founders. Three U.S. startups have been selected for the inaugural class. Catalyst’s goal is to support 200 founders and deliver health and hygiene solutions to 5 million people globally by 2030.
“Catalyst, for me, is all about entrepreneurship at a grassroots level,” Jérôme Lemaire, president of Reckitt North America, told Fierce Healthcare. There is an emphasis on impact, he added.
The three startups selected for the first U.S. cohort are an AI platform for women’s health, Ema; Zócalo Health, a provider focused on serving the Latino community; and nutrition startup Attane Health. The variety is by design.
“You have very, very different thematics that are supposed to serve very specific communities,” Lemaire noted. Eligible U.S. businesses can apply to the program on Reckitt’s website.
Serena Williams has been named Reckitt’s first entrepreneur in residence. She will be involved in the venture selection process and mentoring the cohort as they scale their businesses. The tennis star founded Serena Ventures in 2017, which is focused on investing in women and founders of color and supports startups across multiple sectors.
“She’s a super inspirational figure. She’s a symbol of success for all of us. And she’s credible,” Lemaire said, adding that Williams knows what social entrepreneurship is all about.
Globally, 1 in 2 people lack access to basic healthcare, and 1 in 4 lack access to clean drinking water. In the U.S., more than 80% of counties are considered healthcare deserts with limited or no access to health services, according to some estimates. At the same time, climate change is compounding an already strained healthcare system, especially in rural areas.
“The world is under pressure. And you look at the healthcare systems in different countries in the Western world—these health systems in general are struggling to cope,” Lemaire said. “You really need to partner with the right entrepreneur who understands the local communities.”
“At home in the States, far too many communities are facing barriers to accessing essential healthcare services for their families and loved ones and it’s time we took meaningful steps to address them,” Williams said in a press release. “When we back bold ideas and founders with genuine support—funding, mentorship, and belief—we unlock powerful solutions for the communities that need them most.”
Catalyst hopes to support more than two dozen companies in the U.S. While some may get seed funding, others may only need mentorship. Ultimately, the numbers are not set in stone. Instead, Reckitt wants to focus on impact rather than volume. It may also end up reinvesting in past Catalyst participants.
Lemaire is also excited for Reckitt to learn from founders. “I just want to be surprised,” he said. “With the first three [U.S. Catalyst participants], we’ve been very impressed. But you don’t know what you don’t know.”
Since 2020, Reckitt has supported more than 60 entrepreneurs across 13 countries. The program is supported by VC firm Acumen America, consultancy Yunus Social Innovation and Health Innovation Exchange, a United Nations-born platform connecting startups, investors, academia and governments.