MAKING NEW BUSINESSES A REALITY: BASF BASF has been innovating since 1865. From introducing And it is willing to be acquisitive when the right opportunity 13 synthetic dyes and fertilizers around the turn of the 20th beckons. In 2018, BASF acquired a range of agribusiness century, the €65-billion revenue German chemicals firm is assets from the pharmaceuticals giant Bayer. now a leader in fields from battery technology and This move consolidates BASF’s strength by bolstering 10 agrichemicals to the circular economy. Organic innovation capabilities in areas such as crop protection, biotech, and remains at the firm’s heart: 11,000 BASF employees now digital farming. BASF subsequently renamed its Crop work on roughly 3,000 research projects in 70 labs across Protection division to Agricultural Solutions, giving it the globe. prominence as the newly expanded business line. But BASF is also keen to look outside for new ideas to acquire and convert into new lines of business. It has set up 11 a venture capital arm , which invests in startups in niche areas of interest. It also partners judiciously, such as with Greentown Labs to advance innovation for the circular economy12. 22 BREAKING THROUGH DISRUPTION