Saint-Gobain recently launched its fourth global Innovation Competition. Organized by the company’s NOVA External Venturing team, the competition reportedly rewards worldwide startup businesses that offer innovations in sustainable construction products, cash prizes and access to partnership opportunities with Saint-Gobain.

NOVA External Venturing, an international team of Saint-Gobain representatives that identify and evaluate startup companies for strategic partnerships with all Saint-Gobain businesses, will award a first-place winner with $50,000 and second and third place winners with $25,000 and $10,000, respectively. Winners will also work with NOVA to explore a variety of working partnerships with Saint-Gobain, such as licensing, manufacturing or commercial agreements, equity investment, or joint ventures.

According to Rakesh Kapoor, director of Saint-Gobain Northboro (U.S.) R&D Center and NOVA External Venturing, companies that are poised for growth but lack the capacity to commercialize will gain invaluable advantages from participating in the NOVA Innovation Competition.

“Since 2006, we’ve invested in dozens of promising start-ups in Europe and the U.S., with a select few rising to the top through the Innovation Competition,” said Kapoor. “Winning companies thrive with access to the global market through Saint-Gobain’s established market knowledge and, most importantly, through the support, resources and expertise that comes from our nearly 350-year history of building materials innovation.”

For more information, visit www.saint-gobain.com/innovationcompetition2012.