In December 2014, UPM announced its agreement with Indicatorium Oy for the international commercialisation of the food freshness indicator technology developed by UPM. Food freshness indicator is a smart label that reacts to certain chemicals and helps to determine whether a food product is still fresh and safe to eat.
The co-operation is a good example of UPM actively using its extensive patent portfolio, by which it is seeking business development and innovative partnerships for various bioeconomy projects and the development of by-product utilisation. With the help of co-operation, UPM is aiming to develop new business models and utilise patents that would otherwise be neglected.
UPM is looking for partners among other industrial companies, start-ups, research institutes (e.g. FIBIC) and various other entities that facilitate the commercialisation of technologies (VTT, Sitra). Occasionally, UPM also forms partnerships with its customers, like in the case of the RafCycle label waste recycling concept.
These partnerships help UPM divide the workload, bringing more flexibility and agility to its operations. UPM’s contributions to the projects include transferring and sharing its know-how on technology and environment.