Long term development and sustainable innovation through venture capital

Plans to invest in start-ups in five areas have made the first investment Cisco is an investor in start-ups: through covestro venture In this way, the company hopes to combine the needs of start-ups in financing, expertise and network with its own strategic objectives to ensure long-term sustainable development "We are committed to innovation driven by sustainable development," explains sucheta govil, chief business officer of covestro By working with young businesses, leveraging their technology and innovative solutions, we will be able to take a decisive step forward As a result, we can develop new business areas and provide innovative solutions to bring competitive advantages to our customers " The investment of covestro in crime science technology (c.s.t), a French start-up technology company, is the latest case Through this investment, covestro strengthened its special film business applied in the field of safety license, and obtained the optical color changing film (o.v.m ®) technology applied to polycarbonate and polyurethane materials exclusively This innovative technology developed by c.s.t can realize new security features and help the license to improve anti-counterfeiting performance Deepening cooperation with start-ups through COVEC focuses on the R & D process of mature start-ups, which is always based on the sustainable development goals of the United Nations Therefore, these goals play an important role in the selection of start-ups to invest To this end, COVeC has defined five key investment areas, namely: Bio based raw materials and biotechnology, additive manufacturing (such as 3D printing), circular economy, digital technology, new markets and new technologies of existing core business When selecting start-ups, covestro mainly focuses on the enterprises in the phase of round a and round B financing Dietrich firnhaber, head of strategy and business portfolio development, said: "our investment focus is very clear, that is to help start-ups expand their scale in the growth period, rather than invest in new enterprises However, we do not exclude all kinds of cooperation with start-ups in the early stage, for which we will take effective and open innovation approach " Covestro plans to invest up to 5 million euros in the initial financing of a single project and decide whether to participate in the subsequent financing based on the situation of each project Financing projects must be approved by the board of directors At present, Cisco has no plans to set up an independent fund for venture capital Last year, covestro made its first venture capital investment, buying shares in the b-round financing of the German start-up company hydronius LOHC technologies GmbH Keschuang plans to work with this young enterprise to actively promote the construction of international hydrogen energy infrastructure and contribute to the development of alternative energy Startups and companies in the business expansion stage can visit our website to get more information about COVEC and contacts: www.covestro.com/venturecapital about covestro: covestro is one of the largest polymer producers in the world, with sales of 12.4 billion euros in 2019 Its business scope mainly focuses on the production and manufacturing of high-tech polymer materials, as well as the research and development of innovative solutions for many fields of daily life The main service areas include automobile, construction, wood processing and furniture, electrical and electronic industries, and other fields include sports and leisure, cosmetics, medical and chemical industries themselves As of the end of 2019, keschuang has 30 production bases and about 17200 employees (calculated by full-time employees) in the world You can visit www.covestro.cn to download this press release and related pictures from the news server of covestro Please indicate the source when using the picture For more information, please visit www.covestro.cn Kos official WeChat official account: cossson's forward-looking statement in China, which may contain forward-looking statements based on current assumptions and projections All kinds of known and unknown risks, uncertainties and other factors may cause substantial differences between the actual operating results, financial conditions, development or performance of the company in the future and the estimates made in this paper These factors are included in the official report of covestro, which can be viewed at www.covestro.com Kostron shall not be responsible for updating these forward-looking statements or making them consistent with future events or developments