NineSigma Announces BASF Open Innovation Contest; Up to Five 100,000€ Prizes to Be Awarded

CLEVELAND, Feb. 10, 2015 /PRNewswire/ -- NineSigma, the leading innovation partner to companies worldwide, today launched an open innovation contest on behalf of BASF, the world's largest chemical company. As the world shifts toward a heavier dependence on electricity derived from renewable sources, like hydroelectric, solar, and wind, the need to develop lost-cost, robust storage of electricity on a large scale grows more urgent. 

NineSigma specializes in Open Innovation, which empowers organizations to reach out to a worldwide community of scientific and technical experts to find novel solutions and new approaches from across industries. BASF is utilizing this strategy to find technologies for efficient, chemically based, stationary energy storage. Proposed technologies with supporting data are encouraged, but there is also a strong interest in highly innovative conceptual approaches. Up to five winners each will win a 100,000€ prize.

BASF is seeking technologies that will:

• Store energy for stationary applications
• Have a chemical basis for energy storage
• Safely store and release electricity
• Be less expensive, or more efficient, than existing energy storage options

All proposals must be submitted online at NineSights, NineSigma's open innovation community, by June 2, 2015. Winners will be announced in November 2015. For further information, please go to https://ninesights.ninesigma.com/web/basf-contest.

The contest reinforces BASF's commitment to innovation and co-creation, in celebration of their 150th Anniversary. The anniversary program is designed to propel global co-creation with scientists, customers, partners and employees focusing on energy, food and urban living.

A company that works on a global scale has to look at issues from the perspectives of different markets and understand local requirements. What will the cities of the future look like? Where will energy that is needed come from? How can there be enough healthy food for everyone? Open Innovation is a proven approach to address challenges of this scale and BASF invites innovators the world over to be part of the solutions to shape our future.

About NineSigma
NineSigma connects organizations with external innovation resources to accelerate innovation in private, public and social sectors. NineSigma has the largest open global network of solution providers and an extensive database of existing solutions spanning numerous industries and technical disciplines. Learn more at www.ninesigma.com or www.ninesights.com.

Media Contact:
Jackie Lucas, Warner Communications, [email protected], 978-255-1159

SOURCE NineSigma

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