Germany: Business Ideas Covestro Start-up Challenge Sets Puts Circular Economy in the Focus

Editor: Alexander Stark

This year’s Start-up Challenge at Covestro is now getting down to the facts: The six best international start-up ideas have now been picked and the teams are preparing for the grand final.

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Covestro has picked the six best international start-up ideas.
Covestro has picked the six best international start-up ideas.
(Source: Covestro)

Leverkusen/Germany — At the K 2019 trade fair, Covestro will select the winner of the company’s internal contest. The objective of the challenge is to promote creativity and an entrepreneurial mindset among its almost 17,000 employees and find the best business idea of 2019. The founders are then given the chance to put their idea into practice and test whether it is ready for the market. As part of the challenge, the company's receive seed funding of up to one million euros.

The six teams in this year’s final and their ideas focus on further developing and strengthening the circular economy. One of the business ideas involves generating power from plastic waste — so as to counter plastic pollution in the oceans and also granting access to electricity for more people in underdeveloped markets.

A sustainable means of providing clean drinking water and safe sanitary facilities is also being researched. Water pollution is to be curbed with an innovative polyurethane technology. Other ideas deal with the subject of resource efficiency, for example – such as in the shape of recyclable shipment packaging and a more sustainable, CO2-based cleaning agent that can be degraded more easily.

The winners of the first Start-up Challenge now have the structures and resources they need to put their idea into practice: Their “go clear” project will become a separate venture at the research division of the Coatings, Adhesives, Specialties segment. The objective is to further develop a new technology for clean, safe and efficient refinishing of cars that speeds up the related processes and so saves paint shops time and money.