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AkzoNobel & Start-up Organizations Team-up for Imagine Chemistry Challenge

Published on 2017-04-14. Author : SpecialChem

AkzoNobel has teamed up with two organizations focused on supporting start-ups, Lux Research and StartupDelta. The partnerships will focus on developing business opportunities stemming from the company's Imagine Chemistry start-up challenge. Designed to solve real-life chemistry challenges, the initiative has attracted more than 200 submissions.

AkzoNobel & Start-up Organizations Team-up for Imagine Chemistry Challenge

Together to Support Start-ups in Chemical Industry

AkzoNobel will contribute to the mission of StartupDelta, a public-private partnership established to strengthen the Dutch start-up ecosystem. The parties are working together to support start-ups in the chemical industry. AkzoNobel will also be a founding partner in StartupFest Europe, an event organized by StartupDelta to connect European start-ups with investors, scientists and corporate organizations.

Envoy for StartupDelta, who will attend the Imagine Chemistry finals in June, Constantijn van Oranje explained:

"When start-ups and multinationals like AkzoNobel team up, they can play a decisive role in solving societal challenges and contribute to building a sustainable world. Initiatives like Imagine Chemistry also help to strengthen the position of the Netherlands as an international hub for innovation."

AkzoNobel's Executive Committee member responsible for Specialty Chemicals, Thierry Vanlancker added:

"We are committed to developing new solutions through a model of open innovation, based on cooperation with like-minded partners and start-ups. We are honored that Constantijn van Oranje and StartupDelta recognize these efforts and we can collaborate to accelerate the success of start-ups in chemistry."

Evaluation & Development

US-based Lux Research will support AkzoNobel in its evaluation and development of start-ups taking part in the Imagine Chemistry challenge, as well as helping to strengthen ties with the international start-up scene.

Commenting on the initiative, Mike Holman, VP Intelligence of Lux Research, said:

"AkzoNobel has demonstrated its effectiveness in developing large-scale solutions for sustainable chemistry, ranging from the joint development of wind parks to finding new bio-based sources for raw materials. Lux Research is delighted to support the Imagine Chemistry initiative to unlock the potential of this industry for international start-ups".

The partnerships will further strengthen AkzoNobel's approach to open innovation, highlighted by the Imagine Chemistry challenge, which was established by AkzoNobel Specialty Chemicals in cooperation with KPMG. Earlier this year, AkzoNobel also announced its participation in a €50 million collaborative venture capital fund, run by Icos Capital, focused on early stage chemical and clean technology start-ups.

About AkzoNobel

AkzoNobel creates everyday essentials to make people's lives more liveable and inspiring. As one of the leading companies and a major producer of specialty chemicals, it supplies essential ingredients, essential protection and essential color to industries and consumers worldwide. Backed by a pioneering heritage, its innovative products and sustainable technologies are designed to meet the growing demands of fast-changing planet, while making life easier.

Headquartered in Amsterdam, the Netherlands, it has approximately 46,000 people in around 80 countries, while its portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka.

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Source: AkzoNobel
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