Innovations at Tata Group to deliver $1.1 b revenue
May 13, 2015
Published in The Hindu Business Line [excerpts]
Some 60 innovations of Tata Group companies are set to deliver an estimated financial benefit of $1.1 billion annually, and are likely to touch the lives of 35 million people, globally, over a five-year period.
The Tata Group has decided to focus on innovations through collaboration.
At Tata Innovista, which is a group wide programme held annually by the Tata Group Innovation Forum that encourages, recognises and showcases innovations done by Tata companies, a 15-fold increase in innovations was captured over the past decade.
Tata Innovista 2015 received 1,580 projects under the Promising Innovations category against 101 in 2006, signifying a 15-fold increase. The category recognises innovations across Tata Group companies that have been successfully implemented during the year.
Of the 1,580 projects, the top 60 innovations are expected to deliver the estimated financial benefit over the next five years.
In the new products section, the promising innovation awards went to Jaguar Land Rover for ‘New discovery sport pedestrian airbag system’, Metahelix Life Sciences for ‘MC 13, a path breaking seed in bold rice segment’, as also Tata International for ‘Reactive filler for leather from hazardous waste’, among others. In the Leading Edge-Proven Technologies category, 620 projects were received, and the awards went to Jaguar Land Rover for ‘Polar 3 ultra wide ratio transmission demonstrator’ and Tata Steel for ‘Graphene from natural source’.