Across the globe, the act of constant transformation keeps industries growing, businesses innovating and people thriving. In that spirit, Koch Industries announced this week the establishment of its newest business, Koch Disruptive Technologies. Led by Chase Koch, KDT will begin operations on Nov. 1, focusing on the breakthroughs happening throughout the company and in the marketplace. The goal: to originate and invest in promising entrepreneurs and technologies across industries to improve Koch’s existing businesses and create new opportunities in the process.
“Breakthroughs are constantly occurring in every industry, and the rate of change in the marketplace is breathtaking,” said Koch, who currently serves as executive vice president of Koch Agronomic Services (KAS). “That’s a constant threat to every business we operate, but it’s also a massive opportunity if we can identify, and work with, promising entrepreneurs and technologies all around the world.”
In 2017 alone, traditional venture capital sources will invest approximately $140 million in 20,000 entrepreneurs around the world, not to mention those funded directly by families, friends, universities, or companies that simply acquire and fully integrate the technology.
“As always, we will be giving priority to opportunities that provide mutual benefit, where our capabilities can help their businesses and their capabilities can help our businesses,” said Steve Feilmeier, executive vice president and CFO.
With his background focused on disruptive technology in the agriculture industry, Chase Koch is well-positioned to take on the challenge in this area and growing business opportunities. Justin Hoppas, currently senior vice president of commercialization with KAS, will succeed Koch in the executive vice president role.
“Remarkable innovation often occurs by adopting technology from other industries, and that’s where our breadth of experience across multiple markets really provides a win-win opportunity, both for entrepreneurs and for Koch Industries,” Koch said.
KDT will complement Koch Equity Development, which will continue to focus on later-stage business development, along with making structured investments in companies undergoing their own transitions.