Business News
For DuPont, Innovation Is a Critical Lever at All Times
Monday 01. June 2009 - DuPont is well-positioned for growth opportunities with innovations that address global market trends, DuPont CEO Ellen Kullman said last week at the Sanford Bernstein Strategic Decisions Conference in New York City.
“DuPont is a market-driven science company,” she said. “That simple statement describes us whether were at the peak of an economic cycle or experiencing a global recession — innovation is a critical lever at all times for DuPont. Our innovation objectives are focused on key global market trends. These trends provide a compass to guide our research and development on new products, creating opportunities for innovation by DuPont.”
Ellen noted that 77% of DuPonts $1.4 billion R&D budget is directed at these three “megatrends.”
Increasing food productivity
Decreasing dependence on fossil fuels
Protecting lives
DuPont delivered more than $10 billion in sales from new products less than five years old in 2008. In the first quarter 2009, DuPont commercialized more than 500 new products – nearly double the number during the same time last year.
“DuPont is pursuing innovations that meet customer and market needs, while providing value for our shareholders and society,” Ellen added, saying that global population growth is the common denominator driving demand. According to the United Nations, the worlds population has grown from about 2.5 billion in the mid-20th century to more than 6.5 billion today, with projections rising to an estimated 9 billion people by mid-21st century.