The Bayer Science and Education Foundation is teaming up with the Alexander von Humboldt Foundation to award joint research fellowships.
Bayer will contribute around EUR 3 million (£2.57 million) to the laboratory work, which will run through to 2018. A total of 10 Humboldt-Bayer research fellowships will be given out each year.
These fellows will be chosen together with applicants for a regular Humboldt postdoctoral research fellowship in the life sciences, chemistry or pharmacy.
As well as receiving standard funding from the Humboldt Foundation, candidates chosen for a fellowship will receive extra offers from Bayer, such as invites for foundation alumni meetings.
For the Humboldt Foundation, the partnership will help to award more fellowships and promote collaborations between industry and the research community.
According to Secretary General Enno Aufderheide, the fellows, companies and the Humboldt Foundation itself benefit equally from this strategy.
"In this way, we have access to researchers interested in continuing their career in a global, research-oriented company, who in the past have shown only little interest in a Humboldt fellowship," Mr Aufderheide stated.
Professor Wolfgang Plischke, member of the Board of Management of Bayer AG responsible for Innovation, Technology and Sustainability, and member of the foundation's Board of Directors, said: "Bayer's goal is to promote the best junior talents and strengthen the global exchange in the life sciences, chemistry and pharmacy. In doing so, we attach great importance to our partnership with the Humboldt Foundation's globally unique network."
The Bayer Fellowship awards scholarships that allow ambitious young science students and schoolchildren to take part in special study and continuing education projects overseas.
This news comes after Bayer announced the winners of its Early Excellence in Science Award 2012 have been announced.
Dr Christiane Optiz from the German Cancer Research Centre of the Helmholtz Association in Heidelberg receives the Bayer Early Excellence in Science Award 2012 in the biology category.
