ABB offers engineers and innovators the chance to develop their ideas

Working on behalf of ABB, IdeaHub is recruiting hardware and software innovators to take on the challenge of transforming the role of drives in industrial settings which may include improving the design, use and operation of drives or finding entirely new use cases for drives. IdeaHub will help successful applicants pitch their ideas and secure tailored support packages to maximise their venture’s commercial potential, including funding, R&D expertise, customers and markets or a funded concept acceleration sprint.

The IdeaHub is a cross sector, open innovation platform that connects designers with funding and support from global corporations. In 2015 they ran their first program for the ABB business unit Robotics, attracting over 150 applicants with 11 finalists selected for a pitch day in London with six ventures receiving an offer of support and collaboration. For 2016/17, they are partnering with the ABB business unit Drives and Controls to find solutions to three core challenges to the next generation of drives and controls: Connectivity, simplicity and intelligence.

Morten Wierod, managing director of ABB’s Drives and Controls business unit said: “We look forward to receiving ideas from innovators around the world. Collaboration is the key in building emerging ecosystems around the Industrial Internet of Things.”

The IdeaHub platform is open for applications until 31st January 2017. Successful applicants will get the chance to pitch their ideas directly to ABB at an IdeaHub event in April 2017.

“This is a great opportunity for hardware and software innovators and entrepreneurs around the world to collaborate with a leading drives company and take their idea to the next level,” added Simon Blair, from IdeaHub. “Our programme aims to compliment ventures that apply and not restrict them in any way - we don’t set any pre-defined terms and we don’t insist on equity sacrifice as part of any deals borne out of the program.”

Previous winners included early stage start-ups as well as research projects and offers made ranged from hardware loans to funding and technical collaboration.