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BASF begins joint venture with Plug and Play to accelerate digital innovation in China

The Germany-based chemical company, BASF, has teamed up with Plug and Play in a bid to increase digital innovation in China, Plastics Insight reports.

Through the joint venture, BASF will hold direct access to leading start-ups active in disruptive technologies, including big data analytics, the blockchain, artificial intelligence and smart sensors.

“Our goal is to bring our experts together with digital pioneers to develop new digital products and services that offer additional value to our customers,” said Stefan Beck, Senior Vice President of Global Process/Enterprise Architecture and Chief Information Officer at BASF. “China is a very promising market with entrepreneurial spirit and many innovative ideas.”

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“We are proud to extend our collaboration and work with Chinese start-ups on ground-breaking technology, while offering them insight into real-world product application in the chemical industry and resources to help them scale up their technology.”

The chemical giants have been working on new technologies in the areas of supply chain, transparency, automation and traceability of Plug and Play’s Startup Autonahn in Stuttgart since February 2017, as well as its supply chain and logistics vertical in Silicon Valley.

“In line with BASF’s overall supply chain strategy, innovation and digital solutions will drive our business performance across the entire supply chain,” said Ralf Busche, Senior Vice President, Global Supply Chain Strategy & Performance at BASF. “The innovation power of start-ups will play an important role in maintaining our leading position in the chemical industry.”