Monty Bayer became global business director for US-based materials company Dow Chemical’s ventures and business development, licensing and venture capital business group in 2009.
Bayer said: “A few years ago, we experienced a fundamental shift in the way we work and the way we create value for Dow. When the Dow venture capital group was formed nearly 20 years ago, the focus was on investing across multiple business segments for financial gain. Now, with an annual deployment of roughly $30m, Dow Venture Capital is strictly focused on only the most attractive start-up companies around the world where we see a strategic fit and potential to enable new business growth for Dow.”
Recent acquisitions by Dow from the portfolio have been its water and process solutions division purchasing the remaining equity in Clean Filtration Technologies and the acquisition of Lightscape Materials.
Bayer has worked for Dow for 22 years. He said: “I have worked in a number of commercial, senior leadership, and strategy development roles in Canada, Japan, Korea and the US. My time with the company has been spent in our agricultural sciences business and has included significant
business development activities in the area of biologics, healthy oils, and seeds and traits. During my four and a half years in Asia, I was named vice-president and managing director for Dow Chemical Japan.”
Bayer graduated from University of Alberta and has a master of business administration from Queens University in Canada.
Lessons from the top: Bayer said: “It is important for a start-up technology company to Rest of the 100 Global Corporate Venturing November 2012 25 understand the value it brings and the key milestones that will take it from good to great in a highly competitive global market. Over time, we have found the most successful partnerships with companies that, in addition to great technology, can bring the following:
l A preliminary business model.
l Initial demonstration of the value the invention brings.
l Licence to the necessary intellectual property to practice inventions.
l Timeline for development and commercialisation with milestones related to the funding required
to reach those milestones.
l A well-established team capable of reaching the next significant value-creating milestone.”
