Unilever is pursuing an open innovation strategy through its technology ventures arm, Unilever Technology Ventures (UTV). UTV aims to access emerging technologies through venture capital investments that have the potential to help innovation and growth at Unilever. UTV operates similarly to external venture capital funds, making independent investment decisions and aiming to generate strong financial returns. Over time, UTV intends to establish itself as an independent venture capital firm while maintaining its strategic partnership with Unilever.