Executive Interviews . . . Listen to Dr. Schmaco talk about innovation.

"In recent days,
. Schmako, Cosco's vice president of innovation for Asia Pacific, said. Michael Schmidt) was interviewed Chinese PN Network. Focus on Covestro's development plans in the circular economy and digital direction, as well as its innovation strategy in China, to see how Covestro can highlight the heavy siege in the torrent and break out of the "Covestro Speed". Today, the contents of the interview have been

. Here's what to share:
Cosm's Vice President of Innovation in Asia Pacific, Dr.Schmako
Innovation is Cosco's gene
"About three years ago, we saw changes and challenges in the industry, started rethinking our positioning, and started to innovate further," Dr. Schmako said in an interview.
, Cosco is now working on an innovation strategy that defines and drives its growth through three pillars.
01
continuous development of new products and applications
Cosco has 1,217 employees worldwide working in research and development, or about 7% of its workforce. Most of them are located in major innovation centers in Leverkusen (Germany), Pittsburgh (USA) and Shanghai (China).
fact, Cosco's research and development spending in 2019 will be EUR 266 million, accounting for more than 2% of sales revenue, which is well ahead of the engineering plastic polymer industry.
, more and more materials and technologies will shift to sustainable development and the circular economy. By 2025, Cosco plans to invest 80 percent of its global research and development spending in areas that contribute to the United Nations Sustainable Development Goals.
02
focus on digital innovation strategies
innovation goes beyond research and development, and today's business world is driven by digital innovation.
, Cosco's digital innovation strategy includes three areas: digital operations, digital customer experience, and digital business model.
. Cosco Digital
In its digital operations, Cosco has installed more than 1 million sensors at 30 production sites worldwide and used digital twin technology to keep production lines running smoothly. Its innovation centers in Shanghai and Japan also have the ability to accelerate research and development activities in applications and products through digital technology.
innovations in the digital customer experience, Cosco is also committed to creating digital channels that address customers and suppliers directly.
"China's market demands high levels of product performance,
innovation, and they generally expect shorter lead times."
,"
Dr. Schmaco explained.
Coscon WeChat Service No.
and Alibaba's 1688 flagship store

are major initiatives around the digital customer experience, providing customers with order tracking services to optimize execution and operation.
addition, Cosco has established a wholly owned subsidiary in Amsterdam to build the B2B platform Asellion. The platform is open to third parties, allowing vendors to sell their products in their stores for 24/7 B2B service.
is
the Group's innovation in its business model, and
is part of its digital strategy, "Digital . . . Covestro."
Asellion Platform
03
Focus on Entrepreneurship
Cosco's innovation culture is "everywhere", that is, "innovation for all, innovation everywhere", encouraging the start-up spirit and entrepreneurship of employees within the company, which is also in line with China's "mass innovation, entrepreneurship" slogan.
employees can get a financial gain through patent applications, Cosco has also set up an award mechanism and "Cosco Institute" and other honorary awards to stimulate the enthusiasm of employees to innovate.
In addition, Cosco also holds an "entrepreneurship challenge" within the company (globally), in which accredited teams can use a full fund of 1 million euros to bring new products and business models to market within a year, and every year and a half to two years in the United States, Asia and Europe, Cosco also holds "innovation celebrations" to promote a culture of innovation, promote cross-sectoral, cross-business communication, and reward those who are capable.
"Our ultimate idea for
is to have 17,200 innovative employees, " says Mr. Kostron Innovation Festival. Innovation is at the heart of Cosco and part of everyone's work. Dr. Schmaco stressed.
in China, for the world
in 2001 Cosco Polymer Research and Development Center was established in Shanghai, and gradually developed into an innovation center in the Asia-Pacific region, to provide quality services to customers in the Asia-Pacific region and the world.
sees tremendous potential for open innovation in China," Lei Huanli, president of Cosco Ventures China, said in a press release. Through the new 'open innovation concept', we will continue to practice the 'China, for the world' innovation strategy. The
Asia Pacific Innovation Center will also focus on exploring new business models, digital and e-commerce, and the incubation of start-ups.
in an interview with
PN Chinese.com, Dr. Schmako said that by 2030, China/Asia will be the driving force for innovation in materials, applications and digitalization. "We've seen rapid growth in China's last kilometer of riding tools, robotics, high-speed trains, drones and more. The Asia Pacific Innovation Center is located in China, which brings us closer to China's leading technologies and applications. In
fact, before announcing the expansion of the open innovation concept in China, Cosco advocated open cooperation and accelerated innovation with industry, academia and value chain partners. Push the limits by advancing collaboration, patent sharing, co-conception, and joint development with customers across business areas and stakeholders in the innovation ecosystem.
co-founded Tongji-Cosco Innovation Research Institute with Tongji University, which aims to explore and promote open innovation cooperation in industry, research and development, promote the industrialization of innovation in transportation and construction, and provide education and talent development in related fields. The two sides are focusing on digitalization, improved battery performance in electric vehicles, and the development of low-volatile organic compounds (VOCs) and odor solutions designed to help improve air quality in vehicles, as well as exploring the development of China's robotics industry.
. Schmako is also the Director of Tongji-Cosco Innovation Institute.
. Tongji-Costro Innovation Institute
In addition, CoscoTron, in cooperation with the United Nations Environment Programme-Tongji University School of Environment and Sustainable Development, has established a chair to conduct research in the field of sustainable development, focusing on global environmental issues such as the circular economy, urbanization and climate change.
China will be the largest source of international patent applications through WIPO in 2019, according to data released recently by the World Intellectual Property Organization (WIPO). China's intellectual property protection is improving, and Cosco's number of patent applications in China is increasing, reaching record highs in the past three or four years, with the number of patent applications up 30% year-on-year last year. These are not only patents developed for China, but also for the global market. At the same time, for the first time, the Asia Pacific team contributed more than 20% to Cosco's global patent creation.
high-performance materials solutions
make innovative materials and technologies a reality at your reach. How will the application of high-performance material solutions affect our lives? How much will it contribute to sustainable development? Dr. Schmaco explains more from three applications:
1
5G base station construction and mobile phone back cover material replacement
2
3D printed lightweight shoes and flexible cheongsam
3
CASE (electric, automated, meshed and shared) trend of the development of automotive interior and exterior parts
.