Enabling project teams to build innovative solutions on a leading industrial software platform through incubation for a NYSE-listed, Fortune 50 Digital Industrial Company

 
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Background

The Digital business unit of a multinational industrial company was searching for opportunities to demonstrate the value of its Industrial Internet of Things (IIoT) platform to its enterprise customers in AU.

 

Engagement

Venturetec worked with the client to design and deliver an IIOT accelerator program in partnership with 3 leading Australian universities. Top STEM talent sourced from the universities worked on solving key challenges from a group of enterprise customers across different business units including Aviation, Lighting, Power and Transport. Venturetec incubated the teams through customer discovery, solution ideation and customer co-design, experimentation-validation and prototyping.

 

Outcome

During the 12 week program, teams developed technical prototypes that were subsequently showcased to our client’s enterprise customers. All solutions were built on the IIOT platform, to demonstrate the value to their customers in adopting the platform and result in new software fee revenue. The co-created solutions progressed to product development and commercialisation with some of them having potential to scale to other customers globally.