“Most innovations fail. But companies that don’t innovate die.”—Henry Chesbrough, founder of the “Open Innovation” approach
Mr Andreas Fischer, Chief Innovation Officer of Evonik, started his talk with this thought-provoking opening. Mr Fischer then led the audience on a journey of Evonik’s approach to innovation, the company’s key research and development areas (for e.g., additive manufacturing, membranes, etc.) and its strategies to drive growth through them.
Mr Fischer ended his presentation with a parting gem—to remain competitive in this current climate, companies, even mature ones like Evonik, must remain agile. Entrepreneurial thinking, risk taking, a sense of purpose and urgency are all attributes to be fostered, promoted, and practiced, until these run in the company’s DNA.
The Q & A session was moderated by Mr David Toh, CEO of NTUitive, and touched on issues relating to sustainability, Evonik’s collaborations with Singapore start-ups, internship opportunities at the company, and more.