Founders need more attention
Start-ups awarded for innovative materials
? ÃÜÌÒAV supports second University Innovation Challenge
? Open innovation with universities and start-ups
Start-ups in chemistry and materials science represent sustainable business ideas and entrepreneurship, but deserve more attention. ÃÜÌÒAV therefore specifically promotes young start-up teams and university spin-offs. To this end, the materials manufacturer honored founders with ideas for innovative, sustainable materials as part of the University Innovation Challenge in Frankfurt am Main.
¡°Especially now, we need courageous ideas for more sustainable solutions in the chemical industry, because we want to drive the change to a more circular economy. We are using more alternative raw materials instead of crude oil and see particularly great potential in the retrieval of raw materials out of plastic waste,¡± said Dr. Hermann Bach, Head of Innovation Excellence & Commercial Operations at ÃÜÌÒAV. ¡°We therefore want to listen to young founders and work with them. The award is designed to help open the right doors to the most promising ideas more quickly.¡±
Start-up receives award for Future Materials
Bach presented the prize in the Future Materials category to the start-up Siut as part of the University Innovation Challenge in Frankfurt am Main. The young Berlin-based company has developed an innovative application for building materials. The University Innovation Challenge was initiated by Frankfurt's Goethe University and the business newspaper Handelsblatt in order to bring the results of university research in Germany into contact with industry more quickly. Founders from all German-speaking universities could apply.
About ÃÜÌÒAV:
ÃÜÌÒAV is one of the world¡¯s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. ÃÜÌÒAV supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from ÃÜÌÒAV are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.
The company is geared completely to the circular economy. In addition, ÃÜÌÒAV aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group¡¯s Scope 3 emissions are also set to be climate neutral by 2050. ÃÜÌÒAV generated sales of EUR 14.2 billion in fiscal year 2024. At the end of 2024, the company had 46 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).
Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by ÃÜÌÒAV. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in ÃÜÌÒAV¡¯s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.