SKF India First-of-its-kind initiative to co-create solutions for a better tomorrow
SKF India Partners with IncubateHub to Access India’s Innovators’ Ecosystem
Pune: SKF India, the country’s leading bearings manufacturer, has taken a significant step towards fostering innovation and sustainability by introducing its groundbreaking Open Innovation initiative. In collaboration with IncubateHub, this pioneering program will invite participation from startups, scale-ups, academia, and industry experts to collaborate on solutions for the industrial and automotive sectors across Southeast Asia.
A Purposeful Initiative
Aligned with SKF’s purpose of “Together, we re-imagine rotation for a better tomorrow,” the Open Innovation initiative is designed to spur innovation and address intricate challenges. This endeavor aims to boost competitiveness, adaptability, and growth while facilitating the creation of clean technologies and value-added solutions. In doing so, SKF seeks to provide its customers with a competitive edge while contributing to a more sustainable world. Notably, this initiative will also bolster the growth of startups by affording them access to funding, new markets, and the opportunity to develop solutions that resonate with market demands.
Words from the Leadership of SKF India
Manish Bhatnagar, Managing Director of SKF India Ltd., stated, “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.”
IncubateHub Joins the Journey with SKF India
IncubateHub, an open innovation and corporate venture platform committed to driving digital transformation and sustainable solutions. It will work closely with SKF. They will introduce new challenges and connect with startups, students, and the innovator community.
The Road Ahead
Alagesan Thasari, Director for Automotive India and Southeast Asia, emphasized, “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. Together, we can solve real-world challenges through collaboration and innovation.”
Calling All Innovators
Start-ups, universities, research institutions, and more are invited to visit the initiative’s website to learn more and submit their ideas. Successful submissions will be given an opportunity to drive innovation forward as collaborative partners.
About SKF India
SKF is a world-leading provider of innovative solutions that help industries become more competitive and sustainable. By making products lighter, more efficient, longer-lasting, and repairable, they assist customers in improving the performance of their rotating equipment while reducing environmental impact. SKF’s offerings include bearings, seals, lubrication management, condition monitoring, and services. Established in 1907, SKF operates in around 129 countries with approximately 17,000 distributor locations worldwide. Their annual sales in 2022 amounted to SEK 96,933 million, and they employed 42,641 individuals. For more information, visit www.skf.com/in.