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Business Economy

Polymer major Covestro collaborates with start-ups to foster innovation

New Delhi, July 11 (UNI) Polymer manufacturing major Covestro is collaborating with start-ups to foster innovation.
As a first move in the direction, the materials manufacturer is collaborating with Plug and Play to explore opportunities in materials innovation and digitalisation.
Silicon Valley-based Plug and Play is among the world’s largest start-up accelerators and innovation centres. The organisation connects start-ups with corporations. That gives entrepreneurs access to resources and longer existing company’s access to cutting-edge solutions for specific vertical markets.
Covestro recently signed on as a participating corporation in the New Materials & Packaging platform of Plug and Play.
The firm also has opportunities to collaborate with entrepreneurs in other industry-specific vertical platforms of the accelerator, such as Mobility, the Internet of Things and Health & Wellness, a company statement said.
'We are intensifying our active cooperation with international start-ups from different angles. The partnership with Plug and Play is a very important proof point,' Head of Innovation management at Covestro Dr Hermann Bach explained.
He said by working closely with start-ups in sustainable materials, data-driven business models and digital services today, the company is staying on top of tomorrow’s trends while working to solve the challenges of the future.
Commenting on the initiative, Plug and Play CEO Saeed Amidi, said,'Covestro is gaining a fresh perspective while start-ups can take advantage of their global expertise and materials. We are very pleased to have them on board.'
Plug and Play is the latest example of Covestro’s commitment to foster a more entrepreneurial and collaborative culture. Recently, five international start-ups have been awarded the Resource Innovator Award 2018 initiated by Covestro.
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