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Six-project shortlist for Covestro’s start-up challenge

Polymer manufacturer Covestro has announced it has received nearly 600 submissions for a competition it is holding to encourage “entrepreneurial and pioneering spirit” among its employees.

Earlier this year, the company invited its staff to submit their innovative business ideas for consideration. Covestro has agreed to provide funding for the best project to allow it to operate like a start-up.

It has narrowed the entries down to a six-team shortlist. It features a project to save petroleum by using off-gas carbon dioxide as a raw material source. Other ideas include ways to use plastic waste in various sectors of the industry, a design solution that uses artificial intelligence, and a process for producing industrial gas mixtures in a more sustainable manner. 

Covestro’s management board will decide on the winning business idea in February 2018. The members of the successful team will be given twelve months leave from their normal jobs to develop their idea. They will also receive start-up funding of more than €1 million. 

Dr Markus Steilemann, Covestro board member responsible for innovation, sales and marketing explained: “The start-up challenge further raises our profile as an innovative and sustainable company. We’re also offering exceptional conditions and pushing the boundaries of typical ideas competitions. The aim is for the best business idea to be able to grow as quickly as possible under real-life conditions.”

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