Entrepreneurs and startups offering hydrophobes and other biodegradable dispersant molecules can apply until July 27
The Woodlands, June 2025 – Indovinya, the specialty chemicals and surfactants division of Indorama Ventures, has announced the launch of its latest Open Innovation Challenge. In partnership with AEVO, a technology company specialized in corporate innovation management, the program invites entrepreneurs and startups to present sustainable solutions for agriculture. Applications are open until July 27.
With a focus on supporting the development of biodegradable and microplastic-free ingredients for agrochemical formulations—specifically hydrophobes and dispersants—the initiative aims to foster co-development opportunities, knowledge exchange, licensing, and commercial partnerships. The goal is to accelerate the launch of next-generation products and technologies that offer high performance, reduced environmental impact, and increased agricultural productivity.
After the application period, submissions will be evaluated by experts from both AEVO and Indovinya. Finalists will enter a mentorship phase with Indovinya’s innovation team, followed by Pitch Day, where they will present their solutions to leaders from Innovation, R&D, and the Crop Solutions business. Winning startups may form partnerships with Indovinya, potentially including proof of concept, co-development, and commercial agreements.
“Dispersants are key technologies in crop protection formulations, but many persist in the environment and contribute to microplastic pollution. To reduce these impacts without compromising performance, we are committed to developing and delivering a new generation of dispersants — more sustainable, biodegradable, bio-based, and effective at low dosages. We are looking for alternatives such as innovative surfactant systems, bio-based polymers, and fermentation-derived compounds, among others. This is how we drive innovation projects in collaboration with partners and contribute to a more sustainable future,” says Priscila Castelani, Global Marketing & Innovation Director for Crop Solutions at Indovinya.
With ongoing investments in innovation, Indovinya is present in 10 countries with 15 manufacturing plants, seven R&D centers, and 3,000 employees. In 2024 alone, the company evaluated over 80 startups and conducted 10 proof-of-concept projects with potential partners in strategic innovation and business areas. Collaborating with the innovation ecosystem, Indovinya has already launched several global open innovation challenges and holds more than 500 patent applications across 30+ countries.
“All submitted solutions are evaluated based on strategic criteria such as value proposition, level of disruption, technological maturity, and sustainability—both environmental and economic—with a focus on generating competitive advantage. The entrepreneur’s profile also plays a decisive role, as we believe that supporting these initiatives is essential not only to anticipate trends but also to co-create innovative solutions and strengthen the ecosystem. This approach allows us to respond with agility, creativity, and strategic intelligence to the needs of our customers and society as a whole,” adds Renata Haenel, Global Innovation Director at Indovinya.
Applications must be submitted through AEVO’s platform using the following link:
https://indorama.aevoinnovate.net/#/startup/invite/8327cf33-1d6a-4305-a132-4ec8c8a0438e
Deadline: July 27
Results will be announced on August 17
About Indorama Ventures
Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker: IVL.TB), is one of the world’s leading petrochemical producers, with a global presence in Europe, Africa, the Americas, and Asia-Pacific. The company’s portfolio includes Combined PET, Indovinya, Indovida, and Fibers. Indorama Ventures’ products serve key fast-moving consumer goods (FMCG) sectors, agriculture, lifestyle, and automotive, including beverages, hygiene, personal care, tires, and safety. The company has approximately 25,000 employees worldwide and reported revenues of USD 15.4 billion in 2024. Indorama Ventures is listed in the Dow Jones Best-In-Class Index.
