Technology and services major ZF is exploring how it can benefit from working with start-ups. Like other technology companies, ZF is aiming at shorter innovation cycles, new business models and new software solutions.
The company, which aims to deliver intelligent mechanical systems that enable vehicles to see, think and act, says it needs innovations and new ways of thinking – from inside and outside the company. In light of the changing industry dynamics, the company is giving budding start-ups an opportunity for long-term associations and/or direct investments. Expanding partnerships with start-ups allows ZF greater innovations in engineering and accelerated speed to market.
Speaking at the NASSCOM Design and Engineering Summit 2017 in Bangalore yesterday, Mamatha Chamarthi, chief digital officer of ZF, said: “Collaboration with start-ups will accelerate the digitalisation of our products, processes and culture. Expanding our partnerships with newly emerging start-ups alongside our traditional partners will help us to deliver added value to our customers through enhanced products and services. “ZF has multiple benefits from working with start-ups including unconventional thinking, creative new processes and quick turnaround of an idea to a scalable product. Moreover, the closer contact to startups will have a positive influence on our corporate culture,” she added.
ZF expands global engineering footprint in India
ZF says it is working towards building a closer link to young and innovative enterprises dealing with disruptive trends and opportunities related to connected mobility. The continuous engagement could provide ideas as well as new and possibly unconventional solutions, which may not be limited to traditional technologies but other new mobility innovations.
In addition to the work with start-ups, it is focusing on a global engineering footprint to deliver the digital capabilities. The India Technology Center in Hyderabad is one important pillar of that footprint and fits seamlessly into ZF’s R&D network. As global demand for software solutions grows exponentially, ZF is increasing its capacity in this field to support customers’ growth aspirations in both the global and local markets.