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Assessing innovative approaches inside the Group.
Innovation at Solvay group level is yearly measured by a Innovation scorecard, including 8 ratios covering the results, the growth pipeline, partnerships, ideas generated, people involvement and Research and Development.
The Innovation scorecard seeks to provide an overall picture of the Group’s performance in terms of innovation.
It takes account of the extent of employee participation in innovation projects and the proportion of projects carried out in collaboration with external partners, which is a key component of the Solvay’s sustainability strategy.
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Three key areas have been selected as main innovation's challenges inside the Group:
Growth objective
30% of Group income should come from new products or technologies.
Partnerships objective
50% of projects should be developed in partnership with external partners (customers, universities, public authorities, start-ups, etc.) in the framework of structured agreements.
People objective
100% of executives should define their personal innovation objective every year and have the occasion to evaluate it at least once with their managers. All employees should produce at least one innovative idea every year.
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