By C. Perera, JadeTimes News
Siemens Turns to Start Ups for Innovation, Emphasizes Collaborative Approach
As global challenges intensify, Siemens is turning to start ups for innovation, according to Dr. Annika Hauptvogel, Head of Technology and Innovation Management, in an interview with Euronews' Hannah Brown on "The Big Question." Siemens, founded in 1847 and known for pioneering the first long distance telegraph line in Europe, has since grown into an industry titan, producing a diverse array of products from fridges to wind turbines.
Despite its long history, Siemens is collaborating with start ups to maintain its competitive edge. Hauptvogel noted that the fast paced nature of modern innovation cycles necessitates external partnerships to bring in fresh ideas. Through the Siemens for Start Ups program, the company provides free software to help start ups develop their ideas, test the products internally, and eventually connect them with Siemens’ external clients.
Hauptvogel emphasized the importance of collaboration in addressing sustainability challenges, stating that Siemens cannot tackle these issues alone. She highlighted Siemens' strategy of acting as the initial tester for new products to ensure quality before introducing them to customers.
Addressing concerns about potentially nurturing future competitors, Hauptvogel maintained that the focus should be on solving challenges rather than worrying about competition. She also discussed Siemens' support for the industrial metaverse, where digital twins and AI simulations are used to optimize product designs, reducing material use and environmental impact.
One notable collaboration mentioned was with RIIICO, a start up from Aachen, Germany, which helped Siemens create digital twins of their factories, resulting in a 20% productivity increase.
"The Big Question" series from Euronews Business features discussions with industry leaders on pressing topics of the day.
