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Schaeffler is increasingly focusing on startups

The cooperation with young founders is a successful model for the development of digital technologies and business models: With it, Schaeffler gives startups a regular forum – and takes them over if both parties are interested.

31 Oct. 2018
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Schaeffler is increasingly focusing on startups (Photo: Schaeffler AG)

The automotive and mechanical engineering supplier Schaeffler from Herzogenaurach in Bavaria calls its event “ Venture Forum “, which invites startups from all over the world to present their ideas. Both parties benefit: Schaeffler gets suggestions for fresh ideas, new approaches and unconventional solutions. According to the family-owned company's own statement, they are primarily concerned with the areas of "Smart Factory/Digitalization of Production", "Mobility Concepts", "Sensor Solutions", "Data Value Creation" and "New Material Solutions".

In return, Schaeffler start-ups receive support in the implementation of their business ideas and may later be directly connected to the company. An example already exists: In 2017 the Bavarian corporation acquired the young IT company Autinity Systems from Chemnitz, a specialist in digital machine data acquisition and evaluation in real time. Recently, it was firmly integrated into the company as Schaeffler Digital Solutions GmbH.