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Reinforcing open innovation between industry and academia: The Covestro-Tongji Innovation Academy.
Reinforcing open innovation between industry and academia: The Covestro-Tongji Innovation Academy.
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Covestro is further intensifying its cooperation with Tongji University in Shanghai to address the market needs even faster.

The Covestro -Tongji Innovation Academy is now expanding its open innovation collaboration by focusing particularly on digitalization, enhancing EV battery performance, and deriving innovative materials to improve car interior air quality as well as exploring the Chinese robotics industry.

“It’s obvious that China is on its way to become a leader in innovation for many important industry trends,” said Dr. Markus Steilemann, CEO of Covestro. “This we want to support: As a global company, we are committed to innovate in China for the Chinese market as well as for the Asia Pacific region. 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.”

The Covestro-Tongji Innovation Academy was inaugurated in 2011. Prof. Dr. Wu Guangming, Vice President of Tongji University added that 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.

With the strengthened alliance, the Academy can help accelerate the industrialization of innovation results by further promoting business model innovation to the industry, said 
Prof. Dr. Wu Guangming.

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 to further develop applications and commercialize students’ projects, as well as to establish their own start-ups.

“The academy is intensifying the collaboration in the field of market driven innovation, sustainability and commercialization,” emphasized Dr. Michael Schmidt, dean of the Academy and Head of Innovation for the Asian-Pacific region at Covestro. “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.”

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