Open Innovation Challenge Seeks Novel Applications for Dow’s Oil-Soluble Chemistry
Midland, MI - December 05, 2013
MIDLAND, Mich. – December 5, 2013 – What do you get when you combine the untapped potential of a game-changing chemistry with the power of open innovation from a host of science, technology and applications experts? A truly unique crowd sourcing competition from Dow and InnoCentive, that offers a $15,000 top prize and the opportunity of a long-term collaboration.
Launched today, the Oil-Sol Challenge seeks to inspire the science and technology community to put oil-soluble polyalkylene glycols (oil-soluble PAGs) to new uses. The Challenge will serve as an ideal opportunity for industry leaders to collaborate, innovate and problem solve – validating new applications or markets where oil-soluble PAGs can offer clear advantages. With a guaranteed payout of $15,000 for the best solution, challengers must submit their best ideas by January 27, 2014 through the contest web page at www.oilsolchallenge.com.
Polyalkylene Glycol synthetic lubricants have been around for more than 50 years, but until now, have never been compatible with hydrocarbon or mineral oils. And although Dow has identified industrial and automotive lubricants as important applications for oil-soluble PAGs, the chemistry has potential for a much wider market. Dow’s new generation of PAGs is oil-soluble -- with some additional surprising performance attributes, such as increased hydrolytic stability for esters, excellent anti-corrosion properties, and impressive deposit control.
“Dow recognizes the potential for oil-soluble PAGs. We believe there is a broad spectrum of potential applications, and in order to reach those untapped areas, we need to reach across multiple industries,” said Lisa Inoue, strategic marketing leader for oil-soluble PAGs at Dow. “Experience shows open innovation and collaboration with a diverse pool of experts accelerates, magnifies and improves the caliber of solutions.”
Eligible entries must articulate unique value propositions, relevant target markets and timing to market. Are you up for the Challenge? To get started, visit www.OilSolChallenge.com
InnoCentive is the global leader in crowdsourcing innovation problems to the world’s smartest people who compete to provide ideas and solutions to important business, social, policy, scientific, and technical challenges. Our global network of millions of problem solvers, proven challenge methodology, and cloud-based technology combine to help our clients transform their economics of innovation through rapid solution delivery and the development of sustainable open innovation programs. For more than a decade, leading organizations such as AARP Foundation, Air Force Research Labs, Booz Allen Hamilton, Cleveland Clinic, Eli Lilly & Company, EMC Corporation, NASA, Nature Publishing Group, Procter & Gamble, Scientific American, Syngenta, The Economist, Thomson Reuters, and several government agencies in the U.S. and Europe have partnered with InnoCentive to rapidly generate innovative new ideas and solve problems faster, more cost effectively, and with less risk than ever before. For more information, visit www.innocentive.com, email firstname.lastname@example.org, or call 1-855-CROWDNOW (U.S.) or +44 (0) 207 224 0110 (International).
Dow combines the power of science and technology with the “Human Element” to passionately innovate what is essential to human progress. The Company connects chemistry and innovation with the principles of sustainability to help address many of the world's most challenging problems such as the need for clean water, renewable energy generation and conservation, and increasing agricultural productivity. Dow's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high growth sectors such as electronics, water, energy, coatings and agriculture. In 2010, Dow had annual sales of $53.7 billion and employed approximately 50,000 people worldwide. The Company's more than 5,000 products are manufactured at 188 sites in 35 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
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