Open Innovation Challenge: Partnership with Indovinya to Drive Sustainable Innovation

The chemical industry faces significant challenges in balancing performance with sustainability. As we push towards more environmentally friendly solutions, we must overcome technical barriers, resource constraints, and market adoption hurdles. Developing products that meet high-performance standards while minimizing environmental impact requires innovative thinking and collaboration across the industry.

Our goal is to partner with innovative companies, researchers, and entrepreneurs to develop the next generation of sustainable chemical products. We aim to bring together our expertise in surfactants and specialty chemicals with your innovative ideas to create products that are not only effective but also contribute to a sustainable future. Through this open innovation initiative, we strive to accelerate the development and market entry of products that support our vision of a world-class sustainable chemical company.

Selected partners will have the opportunity to collaborate with our world-class team and gain access to our leading analytical and applications labs. Additionally, you will benefit from:

• Expertise and Resources as a Service: With extensive in-house knowledge in formulation development, stability enhancement, emulsion technologies, and more, we provide access to our resources as a service. Our experience in product launches and market entry ensures that your product reaches the market quickly and effectively, while aligning with our commitment to sustainability.
• Non-Monetary Benefits: In addition to our development services, you will gain access to valuable networking opportunities and receive feedback from our industry experts, helping to refine your product and strategy.
• Grant Collaboration: We are open to collaborating on grant proposals that could support the development and market entry of your product. Whether you are applying for funding or seeking additional support, we can work together on a grant application and provide a letter of collaboration to strengthen your proposal.
• Joint Development and Promotion: We propose a collaborative approach where we mix our products with yours, covering the costs of formulation development and marketing. Together, we’ll create a product that’s optimized for success in your target market and contributes to a more sustainable future.
• Accelerated Market Entry: By leveraging our established customer base, industry relationships, and marketing channels, we can help your product gain traction and reach customers faster than you could alone.

We are seeking innovative products and ideas that align with our expertise, market goals, and commitment to sustainability. If you have a product that needs enhanced stability, tailored formulations, or strategic market positioning, and that contributes to environmental sustainability, we want to hear from you.

If you have a project, technology, or idea that aligns with our challenge, we invite you to submit a proposal. Your submission should include:

• A brief description of your innovation: Provide a clear and concise overview of your idea or technology.
• The potential impact on sustainability: Explain how your innovation will contribute to environmental sustainability, particularly in reducing environmental impact or enhancing sustainable practices.
• Any preliminary data or proof of concept: Share any existing data, research, or proof of concept that supports your idea.
• Your team’s expertise and background: Highlight the qualifications, experience, and capabilities of your team.
• How You Envisionin the Collaboration: Describe how you see the partnership working, what support you need from us, and how we can collaborate to achieve mutual goals.

1. Submit Your Idea: Share your product concept or idea with us through our open innovation platform. We are particularly interested in projects where our combined resources can create significant market impact and support sustainable innovation.
2. Evaluation and Screening: Our evaluation process will occur in several phases:
   • Phase 1: Initial Screening: We will review submissions to determine how closely they align with our expertise, goals, and sustainability vision.
   • Phase 2: Internal Discussions: Selected submissions from the first phase will advance to internal discussions with our marketing and commercial teams for deeper analysis and input. During this phase, a Non-Disclosure Agreement (NDA) will be established between both parties to facilitate the exchange of additional confidential information. Once the NDA is in place and internal discussions are complete, we will schedule calls between both parties to request any further information that may be necessary to progress to the next phase.
   • Phase 3: Final Selection: In the final phase, the top submissions will be carefully evaluated and compared to identify the partnerships that best align with our company’s strategic direction and commitment to sustainability. For those selected after this stage, we will proceed to outline and finalize the specific details of the project or partnership between both parties.
3. Collaborative Development: Once a project is selected, we will work together to refine, develop, and bring the product to market. Detailed legal agreements, including IP and partnership terms, will be discussed and formalized with selected partners.

To ensure that we identify the best opportunities for a successful and sustainable collaboration, all submissions will be evaluated based on the following key criteria:

1. Alignment with Our Expertise and Sustainability Goals:
   • Core Competencies: We will assess how well your product or idea aligns with our in-house expertise, including formulation development, stability enhancement, emulsion technologies, emulsification/demulsification, corrosion inhibition, and foaming/defoaming. Submissions that leverage our strengths in these areas and contribute to sustainability will be given priority.
   • Resource Synergy: We will evaluate how effectively our resources as a service can be utilized to support the development and market entry of your product, with an emphasis on sustainable practices.
2. Market Potential:
   • Target Market: We will consider the size, growth potential, and accessibility of the target market for your product. Submissions with a clear path to market, significant market demand, and a focus on sustainability will be viewed favorably.
   • Competitive Advantage: We will look for products that offer a unique value proposition or competitive edge in the market, particularly those that address environmental challenges. Innovations that fill a gap or meet an unmet need in sustainable markets will have a higher chance of selection.
   • Scalability: We will evaluate the potential for your product to scale within the market, considering factors such as production feasibility, distribution channels, and market adoption, especially in the context of sustainable development.
3. Feasibility of Development:
   • Technical Feasibility: We will assess the technical requirements of developing your product, including the complexity of formulation, required testing, and potential challenges. Submissions that are technically feasible within a reasonable timeframe and budget, and that align with sustainable practices, will be prioritized.
   • TRL Requirement: To ensure that submissions are sufficiently advanced, technologies must be at a Technology Readiness Level (TRL) of 4 or higher. This means that your technology should have completed proof-of-concept validation and be ready for further development and scaling.
   • Resource Allocation: We will evaluate the resources needed for development, including time, personnel, and equipment. Projects that align well with our current capabilities and can be efficiently executed while supporting sustainability will be favored.
4. Development Timeline: We will consider the proposed timeline for development and market entry. Submissions with realistic and achievable timelines will be given preference.

We understand the importance of protecting your intellectual property and ideas. Rest assured that all submissions will be treated confidentially, and any IP shared during the submission process will be protected. Detailed legal agreements, including IP and partnership terms, will be discussed and formalized with selected partners to ensure both parties’ interests are safeguarded.

Timeline and Next Steps

• Phase 1: You will receive feedback on whether your submission has progressed to the next phase.
• Phase 2: For submissions that advance to the second phase, expect to hear back.
• Phase 3: Final decisions will be communicated.

• Sustainable Innovation: We are committed to driving sustainable innovation in the chemical industry, and we seek partners who share this vision.
• Faster Time to Market: Our expertise and resources help accelerate the development and launch of your product.
• Shared Success: We believe in creating win-win scenarios where both parties benefit from increased sales and market presence.
• Access to Industry Expertise: Gain valuable insights and networking opportunities that can further enhance your product’s success.
• Grant Collaboration: Strengthen your grant proposals with our support, including collaboration on applications and a letter of collaboration if needed.
• Flexibility: We are open to tailoring the partnership to meet the specific needs and goals of both parties.

Please submit your proposal by [Insert Deadline Date]. We will review all submissions and contact selected participants for further discussions.

At Indovinya, we believe that together, we can overcome current challenges and drive innovation for a sustainable future. We look forward to your participation and innovative ideas.

For any questions or additional information, please contact Emily Barker (emily.barker@us.indorama.net), North America Innovation Manager, Indovinya – a divison of Indorama Ventures.

(a) Confidentiality.  Be aware that all initial proposals submitted to Indovinya are NOT covered by confidentiality obligations.  As such, we suggest you do not include any confidential information in your submission.  At a later date, we may decide to put in place a non-disclosure agreement to cover further discussions.  

(b) Ongoing Business.  A submission of a proposal and any later discussions will not: (i) create any  commitment on either our or your part to enter into any business relationship, contract or future dealing between us, or (ii) prevent you or Indovinya from conducting similar discussions with other parties.  In particular, we may be receiving similar information from other participants. 

(c) Governing Law.  By submitting a proposal, you are agreeing that any disputes related to the submission will be governed by the laws of the State of Delaware, USA.  

(d) Indovinya.  The term “Indovinya” is used herein for convenience only, and refers to Indorama Ventures Oxides LLC and its affiliates.