PLYMOUTH, Mich., June 18, 2013 /PRNewswire/ — Freudenberg has launched the “ideaTrophy”, a business idea competition open to both Freudenberg employees and outside applicants such as new technology providers, research institutes and start-ups. Ideas in the fields of renewable energy, water purification, medical devices and technology, renewable resources, solvent-free surface coatings, sealing solutions for oil and gas industry, vibration control in railway and general industry can be submitted at the Freudenberg ideaTrophy website by October 28, 2013. The ideaTrophy competition winners will be announced on November 28, 2013.
“At Freudenberg, we recognize that constant innovation in everything we do is essential for our long-term financial success,” says Leesa Smith, president and regional representative for North America, and adds, “That is why we have a concentrated and sustained effort to actively promote innovation. In 2007, we introduced the Freudenberg-wide campaign Your Idea – Our Star, and the ideaTrophy expands it to outside applicants.”
New idea applications can be submitted through the Freudenberg ideaTrophy website. A jury made of subject area experts and top Company executives will evaluate all received ideas, considering, among others, customer value, business and technical feasibility, financial impact, scope and maturity. Everyone who submits an idea will receive feedback.
“We are giving a chance to creative minds worldwide to realize their ultimate dream of turning their idea into a successful startup,” says Dr. Matthias Messer, Star Campaign manager and ideaTrophy coordinator. “We should not forget to mention that the competition also involves monetary prizes for the best three ideas in each field of research,” Messer adds.
“This program is a wonderful opportunity for creative and entrepreneurial minds in our Region. Successful startup of a business based on someone’s brilliant idea – that fits right into the American Dream,” Leesa Smith points out.
The ideaTrophy campaign is managed by the New Business Development Division. As part of the Freudenberg New Technologies Business, Freudenberg research services, the New Business Development Division, and Freudenberg Venture Capital investigate and develop new applications and new business areas and analyze new technologies.
About the Freudenberg Group: The Freudenberg Group is a family company offering its customers technically challenging product solutions and services. The Group is first and foremost a supplier specializing in seals and vibration control technology, nonwovens, filtration, lubricants, and release agents as well as mechatronic products. The end-user can find modern Freudenberg household products in the shops under the brand names of vileda®, O-Cedar® and Wettex®. For mid-size companies, in particular, Freudenberg develops software solutions and IT services. In 2012, the Freudenberg Group employed almost 37,500 people in 57 countries and generated sales of over 8.2 billion USD.
About Freudenberg in North America: Freudenberg North America Limited Partnership is the North American holding company for Freudenberg & Co. of Weinheim, Germany that owns a family of companies which operate 15 unique businesses at 58 locations in North America. Together, these companies provide innovative products and solutions to customers in industries ranging from automotive, aerospace, and medical to chemical, oil and gas, and construction.
For further information, please visit www.freudenberg.us.
SOURCE Freudenberg North America