China is witnessing a transformation in the world of digitalization. It’s a booming market essential for Electric Vehicles (EV) and also supports an increasing focus on sustainability. To keep pace with the new emerging trends in the market, Covestro is committed to intensifying its cooperation with Tongji University in Shanghai to fulfill the market needs as soon as possible.
The Covestro -Tongji Innovation Academy is now expanding its open innovation collaboration by focusing specifically on digitalization and thereby, enhancing EV battery performance to derive innovative materials in order to improve car interior air quality along with the exploration of the Chinese robotics industry.
Dr. Markus Steilemann, CEO of Covestro, says: “It’s obvious that China is on its way to become a leader in innovation for many important industry trends. As a global company, we are committed to innovate in China for the Chinese market as well as for the Asia Pacific region. I’m thrilled to see that our local innovation team is taking over more and more the global responsibility for core technologies. It’s the spirit of open innovation and open venturing with leading Tongji University that helps us push the boundaries for the industry together with our partners.”
Prof. Dr. Wu Guangming, Vice President of Tongji University explains: “The Innovation Academy has set a good example to the industry-academia collaboration. With Covestro’s substantial support, the Academy has made significant achievements in the past eight years. I firmly believe, with the strengthened alliance, the Academy can help accelerate the industrialization of innovation results by further promoting business model innovation to the industry.”
The Covestro-Tongji Innovation Academy was inaugurated in 2011. Dr. Michael Schmidt, dean of the Academy and Head of Innovation for the Asian-Pacific region at Covestro, emphasized: “The academy is intensifying the collaboration in the field of market-driven innovation, sustainability and commercialization. Although we have a strong history of innovation, we cannot rest on our laurels. The academy gives us inspiration on how we can leverage speed, new technologies, and new business models to further enable sustainability for the country and beyond.”
The Covestro-Tongji Innovation Academy also offers funding of business model incubation for students of Tongji participating in an annual business plan competition. This is for the development of applications and commercialization of students’ projects with the focus of establishing their own start-ups.