Abstract
About a year ago, BASF quietly set up a small business incubator in the town of Mannheim, just across the Rhine River from its headquarters and main chemical facility in Ludwigshafen, Germany. Like other chemical firms, BASF invests in start-ups—often through participation in venture capital funds—to gain insight into new technologies vital to its business interests. Also like others, the iconic chemical maker supports third-party-operated incubators that are open to, for instance, clean-technology entrepreneurs. The Mannheim incubator, though, is different. Called Chemovator and based in a renovated brick building in an industrial zone, it supports entrepreneurial employees plucked from BASF’s own labs and business operations. A separate but related venture is trinamiX, a wholly owned BASF spin-off that makes scientific instruments. For the big chemical firm, trinamiX and the incubator are experiments to see if it can tap the creativity of its employees to enter new businesses or create lucrative
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