Givaudan Joins Forces for Innovation as Founding Partner of MassChallenge Switzerland
11 Feb 2016 --- Givaudan have announced that it will join forces for innovation with startup accelerator, MassChallenge, which is expanding into Switzerland and is already active in Boston, London and Jerusalem.
“MassChallenge is a perfect fit with Givaudan’s goals to foster open innovation and drive sustained competitive advantage through differentiated fragrance, flavour and active cosmetic ingredient solutions,” said Chris Thoen, Head of Global Science and Technology. “We are excited about this opportunity to strengthen our own collaborative innovation capabilities in areas of significant impact for our customers and to be part of this initiative to accelerate innovation through partnerships in Switzerland and globally.”
Thoen told FoodIngredientsFirst: "As leaders in the fragrance and flavour industry, we also lead in innovation and are aware that much of the new innovation is coming from start-ups and smaller players."
“We are eager to get visibility into this important innovation ecosystem. We want to identify new innovation, where it is coming from and how we can possibly link our activities to other fields. We would be interested in opportunities to collaborate with start-ups who are offering a product, technology or service that could bring additional value to our customers and their consumers,” Thoen adds.
“We are delighted to host the expansion of the MassChallenge startup accelerator in Switzerland and are pleased to welcome Givaudan as a founding partner. We are excited to be expanding into a country well-known for its support of entrepreneurs and innovation in food tech, manufacturing and life sciences,” said Benoît Dubuis. Mr. Dubuis is a member of the MassChallenge Switzerland supervisory board, Director of Campus Biotech and President of the Inartis Foundation, a not-for-profit organization based in Lausanne that focuses on fostering trans-disciplinary R&D projects to deliver “Innovations Made in Switzerland.”
As a founding partner of MassChallenge Switzerland along with Bühler Group, Nestlé, Inartis Foundation and the Swiss Economic Forum, Givaudan will benefit from access to hundreds of thoroughly evaluated and expertly accelerated startups. MassChallenge operates as a non-governmental organization (NGO), providing access to a global network of mentors and venture capital investors whilst taking no equity in the startups it accelerates.
MassChallenge attracts more than 2,000 new business ventures per year. In 2015, the accelerator supported 128 startups in Boston and 90 in London. The Swiss accelerator will be open to startups from all sectors but aims to build focus in food, life sciences, sensors and precision engineering. Selected entrepreneurs receive mentorship and access to a vast network of resources during four months of acceleration, culminating in an award of no-equity, non-dilutive grants to the startups demonstrating the highest impact and potential.
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