Creative thinking and a problem-solving mindset can spark innovation. This is the foundation that Cytiva’s associate-led Innovation Accelerator program builds upon. The multi-challenge program aims to source ideas and turn them into commercial ventures that meet the challenges of the biopharmaceutical market. The first challenge, with a sustainability theme, is now entering the final phase. Six finalists will pitch today their concepts to a panel of investors to secure a fully-funded project for up to one year.
The Innovation Accelerator started in January 2020. Associates were invited to submit ideas on the theme of Planet Business, converting threats arising from environmental issues into business opportunities. Sustainability is a fundamental imperative at Cytiva and an area in which innovation can create long-term value for both the business and the industry.
Dirk Voelkel, Vice President Innovation at Cytiva, says: “The Innovation Accelerator program unlocks entrepreneurial talent, a key driver for innovation. Not only does it engage associates with great ideas, but it also accelerates the journey from concept to business proposition. Through Planet Business, we aim to foster environmental innovation that delivers value to our customers and to the industry.”
Between January and February 2020, more than 1,300 Cytiva associates submitted 125 proposals. In April, a jury of experts shortlisted six finalist teams from the United States, Sweden and New Zealand whose projects include improved packaging and natural resource efficiency. The finalists will present today their projects to a panel of investors led by Cytiva’s President Emmanuel Ligner.
Finalists have recently completed an eight-week bootcamp, which helped them improve their projects and explore their business case in preparation for the panel event. The successful teams, who will be announced in early July, will receive investment and resources for up to one year to accelerate their innovation.