Global megatrends such as the growing world population, the rising demand for energy and raw materials as well as climate change are creating new challenges.
The global Scouting & Incubation team of BASF New Business GmbH identifies new business areas and market opportunities outside the existing businesses of BASF. We evaluate how the company’s chemical and technological knowhow can contribute to the development of these business areas and make concepts ready for the market.
The chemical industry, and with it BASF, sees itself as a key driver of innovations. With new products, materials, systems and technologies, BASF makes an important contribution to sustainable solutions for the pressing problems of the future.
We focus on identifying challenges and developing in response innovations in which chemistry plays a key role. The activities of BASF New Business GmbH center on the development of forward-looking concepts for the following industries served by BASF:
Our Scouting & Incubation unit comprises the Industry Foresight and Scouting & Incubation teams. They work hand in hand to evaluate market trends, identify future markets, spot and develop trailblazing innovations, and implement them successfully in the market.
Find out more about our Industry Foresight und Scouting & Incubation teams.
The Industry Foresight unit of BASF New Business identifies and analyzes business opportunities outside BASF’s portfolio. Our aim is to develop a focused, logical and practical forward-looking view to enable a better understanding of the future.
We build continuously on our expert knowledge of current and future customer industries. We systematically identify the problems and needs of customer industries, and define new business opportunities with a view to market attractiveness and suitability for BASF’s portfolio. We then prioritize business opportunities, which are subsequently further developed by the Scouting & Incubation unit.
To identify innovation opportunities rapidly, the Industry Foresight unit works systematically with in-house and external change agents, using scenario technologies and open innovation tools, and benefiting from cooperation partnerships with customers, research institutes and consultants.
The task of the Scouting & Incubation team of BASF New Business is to assess the new business ideas identified by the Industry Foresight unit and further develop them to the commercial proof-of-concept stage.
We describe in detail the market requirements, market structure and value chain to be expected in the future. We also identify and evaluate different potential solutions in which chemistry has a crucial role to play in the value chain. And we define current and future technology benchmarks and assess technology leaders.
In addition, we draw up initial marketing strategies, implement them as projects and develop prototypes and roadmaps. The team members lead and develop the projects as entrepreneurs, flexibility playing a key role in realization of the innovation. We work on a global level to cater for the different needs and developments in regional markets.