Virtual Editon of Open Innovator interactive seminar was held on November 8th to learn and explore the digital screening technologies utilized at the point of care.
The Online event had presentations from innovators and founders of three successful startups working in the field of ophthalmology, oncology, and pulmonology. There was also an opportunity for attendees to interact with these leading innovators from Periwinkle Technologies; Remidio and alveofit. Key Medical Professionals also presented their views on the solutions.
Some Topics that were presented:
~ Non-invasive AI tool to indicate the early signs of Glaucoma, potentially preventing vision loss ~ Non-invasive AI based Cervical cancer screening to generate a report and create referrals ~ Digital Spirometry based Lung function test to indicate any Pulmonary risks
Dr Prashant Patel, Ms Veena Moktali, Mr Anand Sivaraman, Dr. Arvind Sivaramakrishnan, Mr Tony Raj, and Mr. Subhankar Basak Speaking at the event
The session was moderated by Shantanu Gaur, and Veena Moktali, Anand Sivaraman, Dr.Prashant Patel were the speakers. Dr. Arvind Sivaramakrishnan, CIO, of Apollo Hospitals, and Tony Raj, Dean, St. John’s Research Institute were the guest speakers who pressed upon the need of mainstreaming innovative solutions that are scientifically and clinically backed. They also said that such solutions should not be only confined to primary healthcare but become part of the delivery model of healthcare services.
Reach out to us at open-innovator@quotients.com to know more about corporate open innovation updates, events, programs, and for collaboration opportunities.
The latest edition of OPEN INNOVATORS MEET was held on 18th November in Bangaluru. The event aimed to promote Innovation and explore potential synergies between innovators, investors, and corporates.
The meet brought together Investors, Industry Partners, Innovators, and Enablers from IoT, AI, ML, Robotics, and other deep tech domains.
Entrepreneurs addressing the meet
Some notable names that attended the event were Anurag Dutta, Rightbot; Rahul Ranganatha, Nugenomics ; K Radha Narayan Rao, Srikanth Sola, Devic Earth ; Sriram, Vidya, Dave AI ; Jayakanth, zMed ; Mahek Mody, Up ; and Pushkar, 4MirrorTech.
At the Open Innovators Meet, noteworthy individuals, authorities, and leaders from illustrious organizations offered their expertise. Investors and thought leaders highlighted growth prospects and provided guidance on further boosting the startup ecosystem through in-depth conversations and entertaining keynotes.
The gathering gave attendees a chance to make long-lasting connections, while the young entrepreneurs got the opportunity to network with seasoned experts in the industry.
Innovators and Investors address the meet
Other attendees of the event were Timiresh, medtel ; Arjun, Syook ; Vijay, Vyli ; Thilak, Vinayaka, Tsalla Aerospace ; Udaya, Nautilus Hearing; Manjunatha NS, PepperTree; Raghavendra, Rezler Systems; Chinnayya Math, Nimble Vision; and others.
There were also panel discussions on relevant topics where eminent personalities, authorities, and leaders from notable organizations shared their knowledge and experience on corporate venture capital and investing strategies. One such panel discussion was moderated by Naveen Kashyap, VP, Digital Innovation, Yokogawa Electric, and the speakers were Bhavesh K Jatania, Head, Startup Banking, IDFC FIRST Bank, Kavin KK, Managing Partner, IDFC First Bank, and others.
Collaboration and consensus is essential for innovation, there are firms successfully innovating openly for years and have phenomenal growth rates that show the advantages of open innovation. Important issues like these were discussed at the Open Innovators Meet with leading experts from across the Industry, Investors, and Innovators.
Open Innovators Meet aims to help organizations embark on a new adventure towards innovation through Corporate Entrepreneurship to become a future-ready company and generate growth to thrive in the new socio-economic context.
For collaboration and partnership opportunities please write us at open-innovator@quotients.com
Tata Steel, a renowned Indian multinational steel-making company, is working to develop innovative solutions and breakthrough technologies across the steel value chain. The company for this is leveraging Research & Development strengths and collaborating with a broader community of scientists, researchers, start-ups and industrial organisations.
Tata Steel Advanced Materials Research Centres (TSAMRC) have also been established in collaboration with the Indian Institute of Technology, Madras (IITM), at Chennai and Bengaluru, in collaboration with the Centre for Nano and Soft Matter Sciences (CeNS). The objective of these Centres is to work closely with academia and other centres of expertise to strengthen the portfolio of advanced material research and its applications.
TSAMRC also hosts an Open Innovation event, MaterialNEXT to inculcate innovative ideas in advanced materials domain. MaterialNEXT platform incubates young minds in the advanced materials space to promote technology thought leadership. The aim is to shape-up breakthrough products and processes in the emerging areas of advanced materials. Areas like Applied Nanomaterials, Novel Composites, Emerging Construction Materials, and Energy Materials has been in focus.
The event spans five months and has three phases starting with Idea Selection, Idea Developmenta and followed by Idea Evaluation. TSAMRC provides mentorship and incubation support and monetary awards as well as funding offers for the most promising concepts to be developed into long-term joint ventures.
India has assumed the Chair of the Global Partnership on Artificial Intelligence (GPAI), an international initiative to support responsible and human-centric development and use of Artificial Intelligence (AI).
The fruition of an idea developed within the G7, GPAI is a multi-stakeholder initiative that aims to bridge the gap between theory and practice on AI by supporting cutting-edge research and applied activities on AI-related priorities.
GPAI works in collaboration with partners and international organizations, leading experts from industry, civil society, governments, and academia to collaborate to promote responsible evolution of AI and guide the responsible development and use of AI, grounded in human rights, inclusion, diversity, innovation, and economic growth.
Built around a shared commitment to the OECD Recommendation on Artificial Intelligence, GPAI brings together engaged minds and experts from science, industry, civil society, governments, international organizations, and academia to foster international cooperation. Member countries, include the US, the UK, the EU, Australia, Canada, France, Germany, Italy, Japan, Mexico, New Zealand, the Republic of Korea, and Singapore.
The Minister of State for Electronics & Information Technology and Skill Development & Entrepreneurship, Shri Rajeev Chandrasekhar represented India virtually at the GPAI meeting held in Tokyo for the symbolic takeover from France, which is the outgoing Council Chair.
Speaking on occasion, Shri Rajeev Chandrasekhar said, “We will work in close cooperation with member states to put in place a framework around which the power of Artificial Intelligence can be exploited for the good of the citizens and consumers across the globe- and ensure that there are adequate guardrails to prevent misuse and user harm.”
AI is expected to add USD $967 Bn to the Indian economy by 2035 and USD 450–500 billion to India’s GDP by 2025, accounting for 10% of the country’s USD 5 trillion GDP target. The country has put in place a National Programme on AI and a National Data Governance Framework Policy. The country is also working on building an ecosystem of modern cyber laws and frameworks that catalyze the next Gen AI and Data-led research and startup ecosystem.
A virtual representation created to accurately represent a physical thing is called a digital twin. The item under study is equipped with a variety of sensors that are connected to key functioning regions. These sensors generate information on various performance facets of the actual object, which is subsequently transmitted to a processing system and applied to the digital replica. The virtual model may then be used to run simulations, analyze performance problems, and suggest potential modifications in order to get useful insights that can later be applied to the real physical device.
How Digital twins are different from simulations
While both digital twins and simulations use digital models to reproduce a system’s many operations, a digital twin is truly a virtual world, making it far richer for research.
The main distinction between a digital twin and a simulation is scale: a digital twin may perform as many meaningful simulations as necessary to explore numerous processes, whereas a simulation normally only analyses one specific process.
There are yet more variances. For instance, real-time data is typically not advantageous for simulations. However, digital twins are built around a two-way information flow that begins when object sensors provide the system processor with pertinent data, and continues when the processor shares insights with the original source object.
Digital twins are able to study more problems from far more vantage points than standard simulations can because they have better and constantly updated data related to a wide range of fields, combined with the added computing power that comes with a virtual environment, which has a greater potential to improve products and processes in the long run.
Types of digital twins
There are various types of digital twins depending on the area of application. It is common to have different types of digital twins co-exist within a system or process. Some of the types of digital twins are discussed below:
Component twins
The fundamental building block of a digital twin and the simplest illustration of a working component are component twins. Parts twins are essentially the same thing, although they relate to significantly less significant parts.
Asset twins
An asset is created when two or more components function together. With asset twins, one can examine how these elements interact, producing a wealth of performance data that can be analysed and transformed into useful insights.
System twins
System or unit twins, which lets to see how various assets combine to create a whole, functional system, are the next degree of magnification. System twins offer visibility into how assets interact and may make performance suggestions.
Process twins
The macro level of magnification, called process twins, reveals how systems interact to build a whole manufacturing plant. Are those systems coordinated to run at maximum efficiency, or will delays in one system have an impact on others? Process twins can be used to pinpoint the timing plans that eventually affect overall efficacy.
Benefits of Digital Twin:
Digital twins can result in improved R&D as they can produce a wealth of data regarding expected performance results, facilitating more efficient product research and creation. Before beginning production, businesses may use this data to get insights that will help them make the necessary product improvements.
Digital twins can aid in monitoring and mirroring production systems even after a new product has entered production, with the goal of reaching and maintaining peak efficiency throughout the whole manufacturing process, hence leading to higher efficiency.
Digital twins can also assist producers in determining how to handle items that have reached the end of their useful lives and require final processing, such as recycling or other actions. They can be used to improve the product life cycle.
Applications of Digital Twins
Manufacturing: Digital twin has the potential to transform the industry’s present structure. The way things are created, manufactured, and maintained is significantly impacted by digital twins. While lowering throughput times, it optimises and improves manufacturing efficiency.
Industrial IoT: Businesses that have used digital twins in their operations may now track, monitor, and manage industrial systems digitally. In addition to operational data, the environmental data that the digital twins collect, such as location, configuration, financial models, etc. , aid in forecasting future operations and abnormalities.
Healthcare: Digital twins and IoT data may be used to monitor patients, perform preventive maintenance, and deliver individualized treatment while also reducing costs.
Smart cities: The planning and implementation of smart cities using digital twins and IoT data help to improve economic development, effective resource management, ecological footprint reduction, and overall quality of life for citizens. City planners and policymakers may use the digital twin concept to plan smart cities by learning from diverse sensor networks and intelligent systems. They also use the data from the digital twins to make future judgments that are well-informed.
Automobile: The creation of a virtual representation of a linked vehicle may be done in the automotive industry using digital twins. It records the behaviour and operational data of the car and aids in the analysis of both the linked features and the overall performance of the vehicle. Additionally, it aids in providing clients with a service that is genuinely individualised or tailored.
Retail: In the retail industry, a positive customer experience is crucial. By building virtual twins of consumers and dressing them in clothes, the use of digital twins may significantly improve the retail customer experience. Additionally, digital twins aid in more effective energy management, security deployment, and in-store planning. Projections:
The global digital twin industry was valued at $6.5 billion in 2021, and is projected to reach $125.7 billion by 2030, growing at a CAGR of 39.48% from 2022 to 2030, according to allied market research. In terms of industry, the automotive and transportation sectors held the biggest market share for digital twins in 2021 and are projected to increase by 2030. The broad application of digital twin technologies in the automotive and transportation industries for the development of digital models of linked cars is primarily to blame for this market domination.
Please contact us at open-innovator@quotients.Com if you would like additional information or explore this and other rapidly evolving solutions in a variety of fields.
The latest edition of the Open Innovator Meet was held in Mumbai. The event provided young entrepreneurs with access to influential investors, mentors, and new markets in an effort to aid firms in scaling and growing.
Investors and thought leaders highlighted prospects for development and offered suggestions for how to further improve the startup environment via in-depth conversations and riveting keynotes. The gathering facilitated the development of strong bonds among attendees and the young founders were given the opportunity to network with seasoned experts in the industry.
Open Innovator Meet brought the various stakeholders of the startup ecosystem at one place and allowed the participants to network, and exchange information and ideas, fostering dialogue and business.
The event also saw an impressive display of products and solutions from various innovators. The eminent speakers from industry and investors highlighted the latest trend forecasts, developments, and challenges in the respective sectors through presentations, case studies, and best practice examples.
With the goal of assisting startups in scaling and expanding, Open Innovator Meet provided young entrepreneurs with exclusive access to global clients, influential investors, and new markets. The young founders had the chance to network with seasoned professionals in the field while making sense of the world and their place in it. The event helped guests form strong ties that benefited their goals for both their professional and personal lives.
The meeting provided the perfect setting for young innovators to present their solutions. The young founders had the opportunity to network with more seasoned business personnel and impart their unique viewpoints. Startups from a range of industries pitched their ideas to investors and business leaders in search of their next round of funding.
Furthermore, there were in-depth discussions and captivating keynotes delivered by investors and thought leaders who highlighted opportunities for growth and suggested ways to further enhance the startup ecosystem.
Debashish Roy, Director – Digital Excellence & Strategic Initiatives, Pfizer, at Open Innovator Meet, underlined the importance of meaningful value creation through partnerships as the key to – scale, sustain, and stay ahead of the curve.
Debashish Roy, Director – Digital Excellence & Strategic Initiatives, Pfizer.
“Today when everyone is talking about connected ecosystems open innovation can provide opportunities to reduce research costs, offer ways to differentiate your product or service offerings in the market, and create new revenue streams, ” he said at the event. “It’s the new way to achieve bigger and greater success for business and stay relevant,” he added.
Prakash Jaiswal, Managing Director, India Head of Business Banking (MSME, Startups) at HSBC, pressed on the need for the financial services sector to innovate and transform its technology and processes to enhance customer experience by reducing friction and to innovate new customer propositions using data. This would need to be done in collaboration with technology partners & platforms.
Prakash Jaiswal, Managing Director, India Head of Business Banking (MSME, Startups) at HSBC
He said “HSBC has been a pioneer in this space with numerous cases across the globe. Our extensive global network coupled with our banking and financial capabilities has proved our ability to take on the role of a ‘partner in growth’.”
“HSBC wants to become a lifecycle bank for small & medium businesses and early-stage startup/tech companies. We aim to solve banking problems and focus on offering customer-centric unique solutions,” said Prakash at Open Innovator Meet.
Anjali Sharma, Head – Enterprise Architecture, Strategy and Innovation, General Mills India Centre, at Open Innovator Meet, talked about assessing an innovative idea whether it is sustainable innovation or a disruptive one.
Anjali Sharma, Head – Enterprise Architecture, Strategy, and Innovation, General Mills India Centre
“An innovative idea has a structure to it, having patterns. Whenever an idea is pitched it needs to be assessed if it is sustainable innovation or disruptive innovation. Sustainable innovations primarily benefit the industry and organizations but disruptive innovations benefit the consumers at large” she said addressing the young entrepreneurs.
“Disruptive innovation serves the latent unmet need of an overserved consumer market, through a product with limited features today, lower profit margins, and a limited consumer base. But as it continues to add features, it disrupts the incumbent players” she added.
She suggested Clayton Christensen’s Disruptive Innovation framework as one such tool that can help innovators, startups, and investors assess their ideas, products, and solutions.
The OpenInnovators’ Meet is organized every month in a different city so as to bring entrepreneurs and investors together to promote emerging innovations and technologies that are transforming our future. Reach out to us at open-innovator@quotients.com to know more about corporate open innovation updates, events, programs, and for collaboration opportunities.
As part of the Open Innovator- Spotlight Series, on Sept 14th, we had a Metaverse Edition that explored topics like the building of the metaverse and the future of augmented and virtual reality.
Spotlight Series is an online event aimed at introducing ideas that can have an impact and potentially challenge established incumbent businesses and processes. This insightful and thought-provoking event welcomes speakers from top startups to share brief talks about their technology solutions, and different aspects of their business that serves as a blueprint for building innovative, future-forward collaborations.
Faisal Galaria, Blippar
As Metaverse is on the verge of bringing a disruptive wave that promises to radically change business operations across organizations, the online event had leaders from Blippar, Merkel Haptics, and XR Labs showcase their next-level solutions in Augmented Reality, Virtual Reality, Immersive Environments, Computer Vision, Haptic Technology, etc.
Padma Priya PV, Merkel Systems
The speakers discussed the development of augmented reality (AR) designs for sectors including eCommerce, marketing, advertising, tourism, and education that seamlessly connect the physical and digital worlds to encourage deeper customer engagement, increased footfall, and sales.
Thirukumaran Saravanan,XR Labs
Haptic technology, which tracks head and eye movements to create immersive settings where users may virtually feel and experience them, was also a topic of discussion. Applications of this technology in healthcare and other industries were covered. The use of AR to enhance processes in Industry 4.0 as well as other fields including manufacturing, defense, support and maintenance, work, and safety was a significant part of the discussion.
It was another great event that had a wide presence of an audience interested in knowing more about the Metaverse, its applications, and market projections. The attendees also had an excellent chance to participate and also discuss with the open innovators topics related to this upcoming technology.
Open Innovators’ Meet was successfully hosted in Chennai on July 1st. The meet had the presence of investors, industry partners business professionals, and innovators from IoT, AI, ML, Robotics, healthtech, and other deep tech domains.
The theme of the foregathering is “Meet the Innovators and the Innovation,” a one-of-a-kind initiative for bringing the three I’s of the ecosystem. i.e. the Industry leaders, investors, and innovators together to stimulate technology-driven innovation (Artificial intelligence (AI) and the Internet of things (IoT) and unleash cocreation & entrepreneurial creativity.
The Startups, Humors, Vyli, Reprosci, Nautilus, Heaps.ai, Aikenist, RHEMOS, Arficus, Dnome, Medtel, Neodocs, TeraLumen, MedloTek Health, eVitalz, Mocero Health, Vulhunt, Inaluz, zMed, Luecine Rich Bio, Frinks, Tagbox, Neurostellar, Punar, Padmaseetha, pwens, and Nura, pitched their products before the investors. Most of the 25 startups that participated were from Healthtech industry, few startups were from Robotics and Cybersecurity.
The Meet hosted speakers Mr. Chandra Mouleshwaran S from GAVS, Prof. Nandan; Robert Bosch Centre for Data Science and Artificial Intelligence, Mr. Chandramouli; Ex-CIO of Sankar Nethralaya, Mr. Balaji Upili; CEO of GS Lab and GAVS, Mrs. Kushboo Goel; Senior Consultant Healthcare and Navaratan Kataria; Director, Startup Engagement Innovation & International partnerships, NASSCOM COE.
Attendees from startups included Ankur Jaiswal, Pooja H S, T Udaya Raga Kiran, Apurva Sule, Ashwin Amrapuram, Aamod Wagh, Sandeep Singh, Divya Sriram, Dr Lalit Ranjan, Pratik Lodha, Dr Jyoti Dash, Sharmila Devadoss, Nanda Kumar, Palaniappan N, Akash, Deepak Gupta, Jayakanth, Kumar Aditya Agarwal, Adarsh Kumar, Dhanushya, Charmi, Gowri, Joseph Jegan, and Dr Tausif.
Some notable attendees included Muthu Singaram; CEO, IIT Madras HTIC Incubator, Akhilesh Agarwal from Pi Ventures, Adarsh B N from Derbi Foundation, Sanjay Selvan; Speciale Invest and Himanshu Sikka from IPE Global.
The OpenInnovators’ Meet will be organized every month at a different city so as to bring entrepreneurs and investors together to promote emerging innovations and technologies that are transforming our future.
The OPEN INNOVATORS MEET was held on 5th August at Le Méridien, Gurugram. The event aimed to promote Innovation and explore potential synergies between innovators, investors, and corporates.
Investors and Industry leaders at the Meet
The meet brought together Investors, Industry Partners, Innovators, and Enablers from IoT, AI, ML, Robotics, and other deep tech domains. The Startups, Jetbrain Robotics, Incredible Devices Syook, Things Go Social, MedTel, Third Eye, Heliware, Intents, Medhini, Zest IoT, Road Cast, Beagle Security, MHealth, Vani Meetings, Aerosys, Elecbits, Advid Technologies, Synq.fit, Answer Genomics, attended the event.
Innovators and Investors address the Meet
The Startups pitched their products and briefed the audience on their vision and future plans. HSBC, Mumbai-based retail banking and financial services provider, also had a presence in the event. From the corporate side, the event saw participation from Bacardi, Radcliffe Diagnostics, USHA, Qualcomm, and CNH Industrial. The dignitaries from the organizations expressed their views and ideas to stimulate technology-driven innovation and unleash cocreation & entrepreneurial creativity.
The industry-academia collaboration with factors like economic environment, structural reforms, and government initiatives is critical for organizations to thrive.
With the aim of bringing together expertise and perspectives from the larger ecosystem, SAP India has launched Industry Knowledge Exchange to drive the country’s inclusive digital transformation with sustainable development.
The company, regarded as one of the world leaders in enterprise application software and cloud solutions, has launched the exchange in collaboration with Amazon Web Services (AWS).
The exchange will bring together enterprises, consulting firms, and academia across 25 industries enabling technological co-innovation. There will be the presence of customers such as Maruti Suzuki India Limited, Chaayos, More Retail, Philips India, Bombay Shaving Company, Greaves Electric Mobility, etc.
The companies will be sharing best practices, and deliberate on regulatory policies to produce shared business value in order to accelerate growth, increase global competitiveness, and promote sustainability.
The three pillars of the Knowledge Exchange confluence as conceptualized:
Establishment of an industry board: Setting up an industry board for each sector will help in identifying sectoral challenges, shaping the industry agenda, and driving peer-to-peer engagement. The council will comprise academicians, business leaders, and innovation and technology partners.
Co-innovation with industries: Facilitating collaboration between multiple stakeholders within each industry ecosystem that will deliver value, drive cloud adoption, and assist start-ups and digital initiatives.
Improvement of regulatory and policy inputs: Capitalizing and leveraging inputs from industry bodies such as the Confederation of Indian Industries (CII), Indian Pharmaceutical Alliance (IPA), and Automotive Component Manufacturers Association (ACMA), etc. to ensure a conducive policy and regulatory framework.
The companies together will give momentum to and shape the future of their respective industries. The exchange will tap into mutual growth opportunities, expand networks, and fuel innovation to solve larger business challenges around emerging technologies, talent, and sustainability.
Source: SAP India
Reach out to us at open-innovator@quotients.com to know more about corporate open innovation updates, programs, and collaboration opportunities.
