Shell wants to invest in Open Innovation

Shell indicates to be willing to invest hundreds of millions of dollars in technology-oriented companies for the next 6 to 8 years. according to The website has published to following text (translated):

This step helps Shell to enable the use of innovations on new projects, according to the company.

Shell refers (amongst others) to the technology that enables the company to apply their resources more thoughtfully and smarter in their quest for oil and gas and in the improvement of the process of obtaining gas and oil. The investments are categorized under Shell Technology Ventures. ,,Ideas from outside our organisation are of great importance in the exploitation of R&D.. We want to be enable the brightest to develop plans and let them take advantage of our expertise and global impact of our company in order to use these technologies as quickly as possible on our projects”, according to the chief technology officer Gerald Schotman.

Besides investing in promising technological companies, Shell wants to focus on so-called spin-outs, organisational assets that become independent and on funds of venture capitalists.

As such a great example of Open Innovation in practise.

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