Suzano holds Open Innovation Pitch Day in China

The Program seeks to identify and foster startups developing bio-based solutions to better support the low-carbon economy transition

Shanghai, August 4, 2023 – Today, Suzano, the world’s largest producer of market pulp, held a Pitch Day for its Bio-based Solutions Startup Program at the Innovability Hub in Shanghai, China. Eight shortlisted Chinese startup companies participated in the closed-door pitch day.

Backed by Suzano’s corporate venture capital fund, Suzano Ventures, the Bio-based Solutions Startup Program is the first initiative of its kind in China. The program aims to create an open innovation platform to identify and foster startups that are dedicated to developing bio-based solutions in eucalyptus biomass applications and fiber-based sustainable packaging.

Launched at the inauguration of Suzano China Innovability Hub in March this year, the Bio-based Solutions Startup Program in China has attracted over 100 applications from startups during the open call period.

Pablo Machado, President of Asia (Business Management) at Suzano comments: “Under China’s ‘dual carbon’ targets, there’s been a surge in the demand for bio-based materials and solutions in the Chinese market. Through our Bio-based Solutions Startup Program, our aim is to further accelerate our R&D and innovation activities to better support the low-carbon economy transition in the Chinese and global markets.”

The winners of the pitch day will be awarded a trip to Suzano’s headquarters in Brazil in addition to a share of a prize pool of up to 1 million yuan. Alongside this, winners will have the opportunity to join a four-month acceleration program, in which Suzano will not only provide capital, but also experience, technology and access to its global markets as well as technology centers.

The Program is part of the Suzano Ventures initiative, a global corporate venture capital initiative launched in June 2022. Similar acceleration programs targeting at the global market are also being carried out in Brazil and Canada. The global initiative aims to invest US$70 million in innovative businesses that are addressing some of the world’s most pressing environmental challenges and have the potential to revolutionize their sector and beyond.