SKF Vehicle Aftermarket and the Silicon Valley venture capital firm Plug and Play Tech Center have partnered to launch a comprehensive Innovation Program aimed at driving customer-centric innovations in the vehicle aftermarket. The program aims to empower SKF team members with the necessary knowledge and skills to strengthen the way SKF approaches innovation and help accelerate the time required to create new solutions to challenges in the aftermarket. SKF and Plug and Play conducted a rigorous selection process to choose 12 SKF employees for the program, who represent nine countries and three different regions.
Leveraging Plug and Play’s technical expertise and experience, the selected participants will develop competencies in building business models and bringing new ideas through the lifecycle and to market. This new program will focus on nurturing a culture of innovation, aligning with SKF core values of collaboration, curiosity, courage, care, and embedding a purpose-driven approach.
Commenting on the importance of collaborative partnership, Annika Olme, Senior Vice President, Technology Development noted, “This initiative further showcases our commitment to leverage technological customer-driven innovation to solve real-world challenges. Together with Plug and Play, we will be able to cultivate an innovation mindset and culture of experimentation and collaboration across the organization. This will further pave the way for new opportunities and revenue streams in the automotive sector.”
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The Innovation Program will be held over the course of six months. It has been designed to include practical workshops, tools, and techniques for new idea creation and validation and focused sessions for creating structure and foundation to develop proof of concepts and tangible customer-centric solutions.
According to Philipp Herlein, Head of the Global Vehicle Aftermarket Division, “We have always been committed to developing and nurturing innovation within the vehicle aftermarket industry. Today, the aftermarket industry has evolved, with advancements in vehicle technology including products related to electric vehicles (EVs) and hybrid vehicles. This has led to both challenges and opportunities. As part of this initiative, we will empower our colleagues to apply their new innovation skills to real-world opportunities including the advancements in electric and sustainable vehicles, and autonomous vehicles.”
The Innovation Program will offer a mix of online and in-person workshops that emphasize hands-on learning and practical application. Participants will learn from experts how to build a strong base in innovation methodology. Several tools and techniques to create, experiment, and improve new ideas will be presented with an overall goal of enhancing creativity, while examining ways to refine concepts and test market feasibility.
The SKF Vehicle Aftermarket and Plug and Play Tech Center Innovation Program will culminate in presentation in December 2024, when participants present the concepts to the SKF leadership.
