SKF India launches Innovation initiative, partners IncubateHub to rope in entries

financialexpress.com:

SKF India, the country’s leading bearings manufacturer has launched ‘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.

The company says in line with its purpose, it aims to 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 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