MAKING NEW BUSINESSES A REALITY: BASF BASF has been innovating since 1865. From introducing synthetic dyes and fertilizers around the turn of the 20th century, the €65-billion revenue German chemicals firm is now a leader in fields from battery technology and agrichemicals to the circular economy. Organic innovation 10 remains at the firm’s heart: 11,000 BASF employees now work on roughly 3,000 research projects in 70 labs across the globe. But BASF is also keen to look outside for new ideas to acquire and convert into new lines of business. It has set up a venture capital arm 11 , which invests in startups in niche areas of interest. It also partners judiciously, such as with Greentown Labs to advance innovation for the circular economy 12 . And it is willing to be acquisitive when the right opportunity beckons. In 2018, BASF acquired 13 a range of agribusiness assets from the pharmaceuticals giant Bayer. This move consolidates BASF’s strength by bolstering capabilities in areas such as crop protection, biotech, and digital farming. BASF subsequently renamed its Crop Protection division to Agricultural Solutions, giving it prominence as the newly expanded business line. BREAKING THROUGH DISRUPTION 22