Givaudan joins start-up accelerator, MassChallenge, which is expanding into Switzerland with members Bühler Group, Nestlé, Inartis Foundation and the Swiss Economic Forum.
MassChallenge is active in the US, UK and Israel.
“MassChallenge is a perfect fit with Givaudan’s goals to foster open innovation and drive sustained competitive advantage through differentiated flavor, 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.”
As a founding partner of MassChallenge Switzerland, Givaudan can have access to hundreds of thoroughly evaluated and expertly accelerated start-ups.
MassChallenge operates as a non-governmental organization, 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.
Marking the official launch of the Swiss accelerator, the MassChallenge Startup Summit will take place at Campus Biotech in Geneva on February 10, 2016.
