DSM brightens up innovation

DSM has taken its transformation a step further with a bold corporate rebranding that focuses on science and innovation. The Netherlands-based company has moved steadily away from being a petrochemicals and chemicals producer, and is now focused on health, nutrition and materials, which it is driving ahead through a highly regarded innovation strategy.

The new brand has as its slogan "Bright Science. Brighter Living". This is said to embody the philosophy that "DSM uses its science and innovation in partnership with its customers to create products and solutions that make a positive difference to people lives".

With "Bright Science", adds CEO Feike Sijbesma, "we mean the unique way in which we combine our Life Sciences and Materials Sciences disciplines, technologies and talents. In partnership with our customers we create innovative and sustainable solutions that address the key challenges facing society today.”

DSM invested $563m in R&D (5% of sales - well above the chemical industry norm) in 2009 but has also been espousing open innovation and venture funding to extend its innovation returns.

Last week it paid $790m to acquire Martek Biosciences, the US-based nutritional supplements producer. Martek produces omega-3 docosahexaenoic acid (DHA) for its nutritional oils by using a strain of algae. Martek currently has an algae technology pipeline that can be used for industrial biotechnology applications, but it does not have an existing business for it yet, said Stephan Tanda, managing board member of DSM responsible for the life sciences, nutrition and pharma businesses in the Americas.

Five innovation mistakes

Companies have been wrestling with getting the most out of their innovation spend for many years. Most have developed tactics and strategies for dealing with ideas generation, incubation, pipeline filling and project assessment and culling. But none of these answers the question: why are some companies, or individuals come to that, more successful than others?

Richard Watson, who blogs for the Fast Company, tries to answer this conundrum. He identifies five reasons why some ideas make it and some don't.  I think they are worth sharing here on the blog - what's your reaction?

He concludes that there are five ways to stop ideas going bad:

1. Be pragmatic: 90% right and in market is better than 100% and not.
2. Think like an upstart start-up. Apply half the time and half the money rule.
3. Walk in the shoes of the final customer. Do the shoes hurt?
4. Say to yourself, maybe the other person is right.
5. Seek out the opinions of disinterested outsiders. Is it still a good idea?

Richard is the publisher of What's Next, a website that documents global trends, and is co-founder of Strategy Insight, a specialist scenario planning consultancy.

Welcome to the Chemicals and Innovation blog



John Baker is a global editor
at ICIS and was for many years editor
of European Chemical News, now
ICIS Chemical Business 



Welcome to the Chemicals and Innovation blog. I'm John Baker, global editor at ICIS responsible for custom publishing and the ICIS Innovation Awards. 

My aim in this blog is to discuss a wide range of issues relating to innovation in the chemical arena - from corporate strategy, funding and investments through to ground-breaking innovations.

On the way I will add my voice to the debate to show that the chemical industry really can answer many of today's pressing global problems through properly focused and well executed innovation. 

ICIS is a leading provider of news and information on the chemical and energy industries. We have editorial resources in the UK, the US, Singapore, China, India and the Middle East - to bring up-to-the-minute news and analysis on the sector. I'll be tapping into this news stream, but also seeking out provoking and informative articles and examples of innovation from a whole range of sources.

My goal is to post around 3-4 items a week - watch out for my first ones any time soon. And please do comment where you have an opinion or knowledge to share with the blog's readers.