It has been an exciting few days for open innovation with global companies launching big new open innovation initiatives. Among them are GE Appliances, Hyundai and Nissan.
Here is a quick peek at some of the stories that have been making the headlines.
The automobile alliance of Renault-Nissan-Mitsubishi has announced the launch of Alliance Ventures, a corporate venture capital fund that will invest up to $1 billion over the next five years to support open innovation in new mobility which will include vehicle electrification and artificial intelligence. Read more here.
Cisco and Hyundai are teaming up for a Next Generation Car initiative. They want to speed up the time to market for a new connected car. “Hyundai Motor Group’s ongoing collaboration with top global technology companies is a testament to our ‘open innovation’ spirit; one that will prepare us for continued leadership as transportation and mobility undergo an unprecedented evolution,” said Seung-ho Hwang, Executive Vice President and Head of Hyundai Motor Group’s Auto Intelligence Business Department. Read more here.
GE Appliances has launched Giddy, an online social community that connects creators/solvers with businesses that need help with projects and product development. Giddy will also manage the online communities for GE Appliances’ FirstBuild co-creation platform.
“Companies are continuing to evolve the way they approach innovation and are more willing to go outside their four walls to generate good ideas,” commented Giddy CEO Taylor Dawson. “We’re giving businesses access to fresh thinking while providing opportunities for people to do what they love and gain experience.” Read more here.