Volvo Group has entered a partnership with the start-up incubator DRIVE in Tel Aviv, Israel.
Volvo Group has entered a partnership with the start-up incubator DRIVE in Tel Aviv, Israel. “This gives us a unique opportunity to collaborate with promising tech start-ups and to accelerate the development of new innovative offers for our customers”, says Anna Westerberg, Senior Vice President Connected Solutions, Volvo Group.
At DRIVE Volvo Group joins as an active partner to mentor, co-create and establish new business relations. A chance both to get inspired, share knowledge and get new interesting perspectives.
“We see a potential for cooperation within fields such as Connectivity, Artificial Intelligence, and Automation – all strategically important areas for the Volvo Group”, says Tommy Hansson Strand, Vice President Innovation Lab, Connected Solutions, Volvo Group.
In the world of start-ups, incubators are common, i.e. facilities where fresh entrepreneurs receive mentorship and cheap office-space for the first fragile years.
“DRIVE is in many ways something much more. It is a complete ecosystem dedicated to nurture ideas and bring young companies into cooperation with multinational transportation companies. A start-up accelerator is perhaps a more apt description than incubator”, says Petter Hagberg acting director Technology Strategy and Planning at Volvo Group.
The DRIVE centre is right in the hub of this ecosystem and talent scouts the most promising companies with the freshest ideas.
“The partnership is a chance for Volvo Group to get an outside-in perspective and to increase our understanding of the technology and its potential”, explains Petter Hagberg.
Two times every year selection events are held. Here promising start-ups get the chance to present their idea and business case for the DRIVE partner companies. Together the partners select the eight most promising prospects. These then enter the Fast Lane – a special program focused on accelerating progress and develop full business potential as fast as possible.
The plan is both to invite promising start-ups to work with the Volvo Group in Gothenburg as well as to work together at DRIVE – mainly on software services.
“This type of fast agile projects call for new collaborative work methods that we hope to establish within Volvo Group”, says Tommy Hansson Strand.