A group of 14 chemical firms have come together to launch IQ-CHem, a competition inviting start-ups to put forward innovative ideas for the petrochemical industry. There is one prize of $20,000, two prizes of $10,000 each, and three prizes of $5,000 each. The application deadline is March 1. IQ-CHem partners include BASF, Dow, Henkel, Sinopec, Solvay, and 3M. The competition will be judged by more than 30 experts representing partner companies, scientific institutions, and investors. In addition to the financial prizes, start-ups with the best proposals will have the chance to collaborate with IQ-CHem partners.