Innovation - Leading the Way

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ACS Entrepreneurial Summit 2015 John Homoelle Director of New Technology and Regulatory Affairs

michelman.com

Established in 1949 • Specialty chemicals • Customer focused • Family enterprise

Today, Michelman is: • Global • 400 employees

About Us

Michelman Headquarters

Cincinnati, OH

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Innovation to Us Means….

The commercialization (or value capture) of unique creative ideas.

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Tip #1 for Entrepreneurs

• Creativity is good but if there is no market for it, then it has no value in the real world.

• Implications for Entrepreneurs: – When you have a creative idea, it has to be connected in a clear

manner to an unmet need that has commercial value.

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Types of Innovation • Internal Innovation

– The commercialization of unique creative ideas generated within a company.

• External or “Open” Innovation – The commercialization of unique creative ideas generated from sources

outside of a company. • Holistic Innovation

– The natural use of either internal or external innovation as a seamless mechanism to generate value.

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Our Focus

• Environmentally friendly alternatives to incumbent technologies.

• Usually water based in nature.

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Our Innovation Model

• New Technology and Commercial Technology Groups.

• We seek solutions to market needs that have been verified and that have no current answer.

• We seek solutions internally first.

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Our Innovation Model

• New Technology – Works in collaboration with Commercial Technology – Technology Scouting – Grant writing when applicable – Technology challenges – University affiliations – Conferences – Inculcation of Holistic Innovation

• New Technology then works with the Commercial Groups to take

any ideas of merit to the next level– research and development.

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External Innovation Successes — Just a Couple Examples

• New emulsification techniques. • Emulsions of High Molecular Weight, Low Melt Index

Polymers – These are employed in many areas such as composite

structures, cable coatings, textile, automotive and medical areas.

• Heat seal and print receptive coatings that employ novel chemistry.

• High molecular weight epoxy dispersions. • Hydrolytically stable aqueous dispersions of biopolymers for

barrier coatings.

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Innovation – Areas of Interest

• Food life extension solutions through packaging. • Digital printing enhancement. • Sustainably sourced materials for barrier. • Composite structures strength improvement. • Alternatives to toxic construction adhesives. • Seed Coatings

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Innovation – Areas of Interest

• Reactive additives • Super absorbent polymers • Commercial ready super hydrophobic materials • Self healing coatings. • Materials that provide barrier to water and oil. • Anti corrosive materials. • Smart/active coatings

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A Final Word on Innovation for Companies

• To foster innovation, a company needs to recognize that there are different types of innovation.

• A company needs to provide an environment that is specific to each innovation type.

• A company has to be willing to take risk and accept that it will fail more than it will succeed

• But the successes will more than offset the failures. • And lastly, a company must reward those innovators

who succeed in a way that is meaningful to them!

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Tip #2 for Entrepreneurs • BUT for you as an entrepreneur to succeed (11 tips):

– The best solutions may come from non traditional ideas. – Your idea has to be connected in a clear manner to an unmet need. – Brevity is the soul of wit– honor that! – Know your audience and tailor your presentation accordingly. – Avoid acronyms and overly technical jargon. – Make sure that you are presenting to the decision makers. – You need to give the organization a reason to believe that your idea can work.

• Data, Data, Data! • Physical examples help immensely.

– Demonstrate but control your passion! – Realize that you may have to knock on many doors to be heard– don’t get

frustrated!

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A Final Word

• Do not lose your passion! • Do not give up trying new things and ideas! • Most importantly, YOU are the future of new

products, new ideas and new ways to make the world a better place!

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Thank you.

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