SKF India Expands Innovation Ecosystem with Launch of Open Innovation

Pune, Maharashtra, India

  • First-of-its-kind initiative to co-create solutions for a better tomorrow
  • Partners with IncubateHub to access India’s innovators’ ecosystem

SKF India, the country’s leading bearings manufacturer, announces the launch of Open Innovation initiative to accelerate innovation and create more sustainable and customer-oriented solutions under the 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.

In line with SKF’s purpose: Together, we re-imagine rotation for a better tomorrow, the Open Innovation initiative will accelerate innovation and solve complex problems, leading to increased competitiveness, adaptability, and growth. By enabling co-creation of clean technologies and value-adding solutions, SKF aims to offer competitive advantages to customers and, at the same time, contributes to a sustainable world. The Initiative 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 Ltd. said, “India is a thriving hub for innovation-driven start-ups. Our Open Innovation initiative aims to accelerate innovation by collaborating with startups, 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 startups, students, and innovators community.

Alagesan ThasariDirector for Automotive India and Southeast Asia, said, “With trends like sustainability, electrification, and digitalization, 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.”

Disclaimer: The above press release has been provided by NewsVoir. CXO Digital Pulse holds no responsibility for its content in any manner.
- Advertisement -

Disclaimer: The views expressed in this feature article are of the author. This is not meant to be an advisory to purchase or invest in products, services or solutions of a particular type or, those promoted and sold by a particular company, their legal subsidiary in India or their channel partners. No warranty or any other liability is either expressed or implied.
Reproduction or Copying in part or whole is not permitted unless approved by author.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

error: Content is protected !!

Sign Up for CXO Digital Pulse Newsletters

Sign Up for CXO Digital Pulse Newsletters to Download the Research Report

Sign Up for CXO Digital Pulse Newsletters to Download the Coffee Table Book

Sign Up for CXO Digital Pulse Newsletters to Download the Vision 2023 Research Report

Download 8 Key Insights for Manufacturing for 2023 Report

Sign Up for CISO Handbook 2023

Download India’s Cybersecurity Outlook 2023 Report

Unlock Exclusive Insights: Access the article

Download CIO VISION 2024 Report

Share your details to download the report

Share your details to download the CISO Handbook 2024