- An Innovation platform for showcasing sustainable& innovative technologies
- Megatrends of urbanization, digitalization, globalization, and climate change in focus
Mumbai/Pune, February 13,2018 – Leading industrial and automotive supplier, Schaeffler India Limited (BSE:505790, NSE:SCHAEFFLER) today announced the ‘Open Inspiration India’ program, a platform for design thinkers, inventors and researchers to showcase their innovative ideas and products focused on developing sustainable solutions for a better tomorrow. Over 114teams from multiple colleges across India participated in Round 1 of the Program, which was first announced in July 2017. The shortlisted 14 teams will compete in the final round to be held in front of an eminent jury at the Schaeffler India office in Pune on 15th and 16th February 2018.
Students from leading institutes like BITS Pilani, Maharashtra Institute of Technology Pune, SRM Institute of Science & Tech Chennai, Army Institute of Technology Pune, Netaji Subhas Institute of Technology Delhi, Birla Institute of Technology Patna, PVPIT Pune, MITCOE Pune, VIT Pune, Vellore Institute of Technology have been shortlisted to showcase their ideas at this platform. With focus on ‘Inter-Urban mobility', 'Eco-friendly drives', 'Energy Chain', ' Production Technologies', 'Digitalisation and IoT', the projects submitted include an automated 2-wheeler, a Vertical Axis Water Turbine, a modified wheel hub for tractor and off-road vehicles, a simple-to-manufacture Hot Air Engine amongst others.
Dr Alfred Rivinus, CTO Europe - Schaeffler, who is part of the jury for the final round, elaborated, “We are excited to introduce this program in India and have received a very encouraging response from the student community. Mutual inspiration and thinking outside the box are the focal topics at the Schaeffler “Open Inspiration” Program. Innovations are a crucial prerequisite for safeguarding our future. The aim is to boost ideas that can help make tomorrow’s world a little safer, smarter and efficient. We are excited to connect with the attendees and participants and have our team learn and get inspired by them. It will serve as an ideal platform for the students to showcase their community outreach research work and in turn receive the assistance that they deserve. The event will also facilitate in connecting with industry experts, discuss possible product application scenarios and explore possibilities to market and incubate the designs.”
Speaking about the event, Mr Dharmesh Arora, CEO – Schaeffler India said, “Innovation is one of the core foundation of Schaeffler and Open Inspiration is a global platform that celebrates ideas and inspirations. This is our first edition in India and we are excited to see the response we have received and more importantly, the inspiring ideas and efforts put in by the students. I congratulate all the participants and look forward to the event to see the ideas in action.”
Schaeffler AG has been organising the industry event globally for the past 2 years, however, this is the first time the company will host this event in India. Schaeffler India team visited 26 colleges across India in the past few months, involving 300 students, gathering a total of 114 entries for the event. 14 entries have been shortlisted after going through three screening rounds. A mentor from the Schaeffler team has worked with each of the 14 shortlisted teams and now two winners will be announced by the Jury panel during the event. The winners will be awarded cash prizes and sponsorships for their ideas by Schaeffler India.
About Schaeffler India Limited (formerly FAG Bearings India Limited)
Schaeffler, with four plants and 19 sales offices has significant presence in India. Schaeffler’s three major product brands - FAG, INA and LUK - are well represented in India. Schaeffler has been present in India for over 50 years. The manufacturing plant in Vadodara, Gujarat was set up in 1964 and produces a vast range of ball bearings, cylindrical roller bearings, and spherical roller bearing and wheel bearings and sold under the brand name of FAG. The second plant in Vadodara at Savli produces next generation deep groove ball bearings and large size roller bearings also sold under the name of FAG. Schaeffler’s third state-of-the-art plant is located at Talegaon near Pune, and manufactures engine and transmission components for front accessory drive systems, chain drive systems, valve train, shift systems and a range of needle roller bearings and elements, under the brand INA. The fourth manufacturing location is based out of Hosur, that manufactures clutch systems and dual mass flywheels for passenger cars, light commercial vehicles, heavy commercial vehicles and tractors and the products are sold under the brand of LuK. In addition to this, Schaeffler also has dedicated engineering and research and development support based in India to augment the product teams and among the largest aftermarket networks serving the industrial and automotive markets. Schaeffler India employs about 3000 employees across the 3 legal entities, with consolidated revenues of INR 4020 crores in 2017.
About Schaeffler Group
The Schaeffler Group is a global automotive and industrial supplier. Top quality, outstanding technology and exceptionally innovative spirit form the basis for the continued success of the company. By delivering high precision components and systems in engine, transmission, and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications, the Schaeffler Group is already shaping “Mobility for tomorrow”. The technology company generated sales of approximately EUR 14.0 billion in 2017. With around 86,600 employees, Schaeffler is one of the world’s largest family-controlled companies and, with approximately 170 locations in over 50 countries, has a worldwide network of manufacturing locations, research and development facilities, and sales companies.