Covestro Innovation Challenge – turning employees into entrepreneurs

“At Covestro, innovation is everyone and everywhere”
-Dr. Jens Peter Joschek, Head of Innovation Excellence

Who is Covestro? 

Covestro is among the world’s leading supplier of premium polymers, primarily serving the automotive, construction, cosmetics, electronics, fashion and sportswear and health industries. By focusing on sustainability and innovation Covestro lives by the mission to make the world a brighter place.

What did Covestro want to achieve? 

Covestro had a mission to boost creativity, entrepreneurial spirit, and open collaboration across the organisation. But how do you transform great ideas into business, when you work with 16,000 innovators? The purpose of the innovation challenge was to encourage people to bring their creativity and ideas to the company, turning employees into entrepreneurs.

How we did it  

Covestro used a platform on their intranet and launched an innovation challenge giving employees across the organization a chance to share their ideas. Covestro coined this company-wide innovation initiative, The Covestro Start-Up Challenge.

The Result

The winning team, Go Clear, developed a concept for clean, safe and efficient repair coating and the opportunity to materialize their idea after receiving one million euros in funding and 12 months dedicated to bringing the idea to life.  

Following the initial innovation challenge, the remaining top 25 teams attended idea camps to further develop concepts. These idea camps consisted of small-scale, one-day, boot camps across Europe, Asia and North America to ensure employees around the globe could participate.

Follow the status of the Go Clear project on their vlog and stay tuned to the see the progress of the remaining 25 ideas.

If you’re interested in turning employees into entrepreneurs within your organization, host your own innovation challenge with the guidance of our experienced innovation consultants!