India is the third-largest startup ecosystem in the world, with Bengaluru accounting for majority of the B2B startup population in the country, making it a hotspot for research and development. India is also the global Industrial AI (Artificial Intelligence) start-up hub, and several industry focused AI and ML (Machine Learning) companies are emerging. As the world grows smaller and the boundaries of a research lab blur to include external partners in a model of open innovation, corporates are joining hands with relevant startups to enhance the speed of innovation and discover fresh perspectives.
For ABB, partnering with a startup is a mutually beneficial relationship - startups are given access to the might of ABB’s network and ABB benefits with a direct line to the fresh pace of technological innovation. ABB Technology Ventures (ATV), ABB’s VC arm, actively partners with, invests in, and accelerates world-class startups to drive innovation and better outcomes for itself, its customers, and society.
ATV hosted the second edition of its Startup Pitchfest – “Collaborate & Commercialize with ABB and SynerLeap” on November 20, 2019 in Bengaluru, to empower startups from the dedicated B2B tech space by providing them a platform to share their ideas with industry and technology experts. This edition of the Startup Pitchfest witnessed eight promising startups pitching to business leaders.
ABB extends a hearty congratulations to Ecolibrium Energy, NuMoCity and Flutura, who won a membership with SynerLeap. As SynerLeap members, startups have the possibility to gain unique ABB industrial domain know-how, interact with ABB’s senior scientists and engineers, network with R&D and business line managers and get access to ABB customers and partners. “ABB’s research and development has a history of more than 15 years in India and with the ABB Ability Innovation Center we are well prepared for the future. With Synerleap’s focus on Indian start-ups, I see the next step of collaboration for open innovation.” says Wilhelm Wiese, Head ABB Common Technology Center, India.
ATV entered India in 2017 to scan the thriving startup landscape and leverage external sources of innovation to deepen ecosystem partnerships and enhance ABB’s capabilities. ABB has long pursued and actively encourages an open innovation approach that welcomes collaboration with external partners from academia, business, startups, and the like.
“Ever since ABB Technology Ventures has come to India in 2017, it has been a champion for furthering innovation. Starting with our investment in Stellapps in 2018, we have made good inroads in India. This year we have done pilots with seven startups. In its multipronged approach ATV has worn many hats. As a technology scout, ATV identifies new technologies and trends. As a catalyst to innovation, ATV leverages external sources of innovation and brings new business models and technologies to ABB. As an investment arm, ATV Deepens ecosystem partnerships to highlight and enhance ABB’s Capabilities.” says Arvind Vasu, ABB Technology Ventures.
“Unleashing the power of the India ecosystem by bringing SynerLeap here in Bengaluru is the way to go! It was amazing to be part of an inspiring and disruptive day, where eight astonishing startups have shown what value they can bring to ABB. Their passion and dedication inspired all of us, and made us so eager to start with collaborations. We look forward to accelerating Indian startups and building a win-win ecosystem together! says Gaetana Sapienza, Head of Operations at SynerLeap.
SynerLeap – Innovation Growth Hub powered by ABB
SynerLeap is ABB’s innovation growth hub focusing on creating an ecosystem for accelerating startups to expand on a global market. The mission is to support startups in taking the big leap through access to unique ABB industrial domain know-how and technology, mentorship as well as ABB’s network, partners and customers. Located in the heart of the ABB Corporate Research Center, Sweden, SynerLeap offers to the startups an international open innovation environment to establish synergies and foster scaling. SynerLeap has today a portfolio of 60+ startups, from 9 countries and has established more than 80 startups-ABB collaborations with successful records. Collaborate for creating value, innovation and growth is SynerLeap’s driving force!
About the startups:
Flutura is an Artificial Intelligence Solutions company focused on improving two core business objectives of “Asset Uptime” and “Operational Efficiency”.
Numocity provides middleware platform for providing “Energy as a Service” with fixed EV chargers or Battery swappable solutions.
Ecolibrium Energy is a leading provider of Predictive Asset Intelligence for industrial and commercial enterprises.