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Givaudan, MassChallenge Join Forces

The Swiss fragrance and flavors supplier said it would benefit from access to hundreds of accelerated start-ups resulting from the tie-in.

PARIS — Swiss fragrance and flavors supplier Givaudan said it is joining forces to bolster innovation with start-up accelerator MassChallenge.

Chris Thoen, head of global science and technology at Givaudan, said the tie-up with MassChallenge would “foster open innovation and drive sustained competitive advantage through differentiated flavor, fragrance and active cosmetic ingredient solutions.”

Givaudan said that as a founding partner of MassChallenge Switzerland — along with Bühler Group, Nestlé, Inartis Foundation and the Swiss Economic Forum — it would benefit from access to hundreds of start-ups.

MassChallenge, a nongovernmental organization, draws more than 2,000 new business ventures annually and has already established activities in Boston, London and Jerusalem.

Last year, it supported 128 start-ups in Boston and 90 in London. In Switzerland, the accelerator is to be open to all types of start-ups but plans to focus on the food, life-science, sensor and precision-engineering sectors.

Selected entrepreneurs are granted a mentorship and access to a network of resources for a four-month acceleration period. That culminates in an award of no-equity, non-dilutive grants to the start-ups showing the highest impact and potential.

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