SKF India has launched the 'Open Innovation' initiative to accelerate innovation and create more sustainable and customer-oriented solutions under an intelligent and clean strategy. In collaboration with IncubateHub, the initiative invites participation from start-ups, scale-ups, academia, and industry experts to exchange ideas, technologies, and expertise to co-create solutions for the industrial and automotive businesses in the Southeast Asian region.
The initiative will accelerate innovation and solve complex problems, increasing competitiveness, adaptability, and growth. By enabling the co-creation of clean technologies and value-adding solutions, the company aims to offer competitive advantages to customers while contributing to a sustainable world. It will also contribute to the growth of startups by providing access to funding, new markets, and the opportunity to develop solutions that resonate with the market's needs.
Manish Bhatnagar, Managing Director, SKF India, said, “India is a thriving hub for innovation-driven start-ups. Our Open Innovation initiative aims to accelerate innovation by collaborating with start-ups, SMEs, researchers, and universities. Together with leading innovation platforms like IncubateHub, we are looking to draw on the country’s brightest minds to co-create pioneering solutions that solve some pertinent problems in the industrial, automotive, and engineering space. While the innovators’ community benefits from our scale and operational expertise, our customers benefit from the valuable and sustainable innovations.”
IncubateHub is an open innovation and corporate venturing platform to drive digital transformation and sustainable solutions. The platform will work closely with SKF to add new challenges and connect with start-ups, students, and innovators community.
Alagesan Thasari, Director, Automotive India and Southeast Asia, SKF, said, “With trends like sustainability, electrification, and digitalisation, transforming industries, we believe innovation will be the key differentiator for success. Through these platforms, the Open Innovation initiative aims to broaden the horizon of value creation, unlock hidden potential for innovation, and open the door to strategic partnerships, and new business models. Along with facilitating more scouting activities across India and Southeast Asia region, this Initiative will focus on executing the best concepts through a series of testing and providing advanced technical knowledge for design, process, and supplier validation. Together, we can solve real-world challenges through collaboration and innovation.”
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