Givaudan, MassChallenge join forces

16 Feb 2016

Givaudan is to join up with start-up accelerator MassChallenge as it looks to foster open innovation and drive sustained competitive advantage through differentiated flavour, fragrance and active cosmetic ingredient solutions.

Givaudan, MassChallenge join forces

Givaudan has announced that it will join forces for innovation with start-up accelerator, MassChallenge, which is expanding into Switzerland and is already active in Boston, London and Jerusalem.

“MassChallenge is a perfect fit with Givaudan’s goals to foster open innovation and drive sustained competitive advantage through differentiated flavour, fragrance and active cosmetic ingredient solutions,” said Chris Thoen, Head of Global Science and Technology.

“We are excited about this opportunity to strengthen our own collaborative innovation capabilities in areas of significant impact for our customers and to be part of this initiative to accelerate innovation through partnerships in Switzerland and globally.”

“We are delighted to host the expansion of the MassChallenge start-up accelerator in Switzerland and are pleased to welcome Givaudan as a founding partner. We are excited to be expanding into a country well-known for its support of entrepreneurs and innovation in food tech, manufacturing and life sciences,” said Benoît Dubuis. Dubuis is a member of the MassChallenge Switzerland supervisory board, Director of Campus Biotech and President of the Inartis Foundation, a not-for-profit organisation based in Lausanne that focuses on fostering trans-disciplinary R&D projects to deliver ‘Innovations Made in Switzerland’.

As a founding partner of MassChallenge Switzerland along with Bühler Group, Nestlé, Inartis Foundation and the Swiss Economic Forum, Givaudan said it will benefit from access to hundreds of thoroughly evaluated and expertly accelerated start-ups. MassChallenge operates as a non-governmental organisation (NGO), providing access to a global network of mentors and venture capital investors whilst taking no equity in the start-ups it accelerates.

MassChallenge attracts more than 2,000 new business ventures per year. In 2015, the accelerator supported 128 start-ups in Boston and 90 in London. The Swiss accelerator will be open to start-ups from all sectors but aims to build focus in food, life sciences, sensors and precision engineering. Selected entrepreneurs receive mentorship and access to a vast network of resources during four months of acceleration, culminating in an award of no-equity, non-dilutive grants to the start-ups demonstrating the highest impact and potential.