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Strategy Development of R&I

Dr. Volker Trautz

Dr."Volker"Trautz"

1"

Outline
Innovation in perspective
Chemical industry life cycle
Evolution of R&I over the industry life cycle
Consequences for innovation management

Outlook
Conclusion: a personal perspective
Dr."Volker"Trautz"

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Innovation from a company perspective

Dr."Volker"Trautz"

3"

Examples of significant innovation (>$10B)


Innovation

When

Aminoacids

1805

Lead-Acid Battery

1854

Azo-Dyes (e.g. Indigo)

1861

Liquid Crystals

1888

Haber-Bosch process

1910

Nylon (polyamide)

1935

Teflon (PTFE)

1938

Polypropylene

1953

Carbon Fiber

1958

Spandex (Polyesther)

1959

Time-released medication

1960s

Dr."Volker"Trautz"

4"

The majority of innovations in the past 150 years


needed >20 years for significant business
Electrolysis"

1800"

Haber<Bosch"
FerIlizer"

Aspirin"
1900"

1850"
TNT"

Natural""
""
rubber"

Air"separaIon"

Fracking"
Pill"
1950"

Polymers"

Today"
OLED"

Fischer<Tropsch"

Daniell"Element"

Teon"

<"5"years""""

Viagra"

5<10"years""""

10<20"years""""

Lotus"eect"

>"20"years""""
Source:"Evonik"Industries"

Dr."Volker"Trautz"

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5"

How can you describe innovation in one word?


1. Creativity
2. Change
3. Transformational
4. Different
5. New

A true innovation can never


be described in one word,
because it is best described
by the moment of silence
created when all the people
who said it will never work
realize they are dead
wrong
Mentors Edge Ravi
Kikan, India

Dr."Volker"Trautz"

6"

Degree of market familiarity

Low

High

Transformational innovation needs patience and


stamina!
Product-line extensions
into new markets
Success rate: 30-40%
Time to commercialization:
2-7 years (average 5)

New Product launches


into new markets
Success rate: 15-20%
Time to commercialization:
8-19 years (average 14)

Product-line extensions
into existing markets
Success rate: 40-50%
Time to commercialization:
2-5 years (average 4)

New Product launches in


existing markets
Success rate: 30-40%
Time to commercialization:
6-15 years (average 11)

Degree of technology familiarity


Dr."Volker"Trautz"

Source:"McKinsey"on"
Chemicals,"2013"

Evolution of R&I over the life cycle of the


chemical industry
3. Creation of individual segments
Focus, new champions
3"

2. Race to diversity to grow


and dominate
1. Creation of champions

2"

1"
1850"

1900"

1950"

2000"
Dr."Volker"Trautz"

8"

1. Creation of champions
Characteristics R&I:
Strong centralized R&I / critical mass
Strong links between universities and
industrial R&I
Positive attitude towards innovation
Company leaders often former scientists
Business generally less risk
averse
1"
1850"

1900"

1950"

2000"
Dr."Volker"Trautz"

9"

2. Race to diversify, grow and dominate


Companies diversified and starting to focus on
their strengths

2"

1920"

Characteristics for R&I:


Central R&I location, but separate specialized labs
Increased competition forces cost awareness
New raw materials (coal
oil)
Increasing industry globalization leads to
more global R&I activity
New tools allow faster and more effective
R&I

1950"
Dr."Volker"Trautz"

10"

3. Segmentation and focus, new champions


Industry characteristics
3"

1950"

Globalization
Focus on competitive strengths, segments for
competitive edge
Transformational portfolio changes (M&A)
Increased importance of financial
community
New champions from new regions
Sustainability more and more important

2000"
Dr."Volker"Trautz"

11"

Consequences of 3rd phase for R&I

3"

1950"

Different industry segments need different R&I


approach:
Petrochemicals / base chemicals
Focus on cost and efficiency
Economy of scale
Process and catalysts continuous improvement
Fine / Specialty chemicals
Focus on few segments of strength
Life science
Industrial bio-tech
Services

2000"
Dr."Volker"Trautz"

12"

Consequences of 3rd phase for R&I (Contd)


Company focus needs different R&I approach
Globalization of R&I
3"

1950"

2000"

Society looks very critical at Industry (e.g. genetic


modification in Europe)
Sustainability
Renewable raw materials
From chemical to biochemical syntheses
(e.g. Vitamin C)
New tools save cost and create new opportunities
micro plants
computer simulation
screening
Dr."Volker"Trautz"

13"

Typical innovation spending by segment

Typical#R&I#intensity#

12%#
10%#

7A12%#

8%#
6%#

3A8%#

4%#

7A12%#
1A4%#

2%#

0.5A2%#

0%#

Pharma#

Fine#/#Specialty#
chemicals#

Polymers#

Dr."Volker"Trautz"

Petrochemicals#/#
Base#chemicals#
14"

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Me

R&D$Intensity,$%$

R&D intensity, % of sales (2013)

10.0%$
14.1%%

8.0%$

6.0%$

4.0%$

2.0%$

0.0%$

Dr."Volker"Trautz"

15"

Gross expenditures on R&D (2014)


Leading countries
Total US$ 1,62 trillion
US

465

China

284

Japan

165

Germany

92

South Korea

63

India

44

Russia

40

Brazil

33

39.1%%

33.9%%
21.7%%
5.3%%

Asia%

Americas%

Dr."Volker"Trautz"

Europe%

ROW%
16"

Sustainability creates added value


Balance between all aspects of sustainability
Society(

Ecology(

Economy(
Dr."Volker"Trautz"

17"

Outlook
Strong influence of ambition of individual companies
Need to balance short term financial objectives versus longer
term strategic vision
Trends:
Open innovation
New and more extensive collaboration models
Partnerships

From petro-based to bio-based


Increasing role of Venture Capital investment
Dr."Volker"Trautz"

18"

Conclusion: a personal perspective

Companies have to create and maintain an innovation


friendly environment
Patience and stamina are critical!
Dr."Volker"Trautz"

19"

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