Start-up companies present their ideas to Schaeffler

At the first Schaeffler Venture Forum, 13 technology start-up companies were given the opportunity to present their business ideas on all aspects of sensor technology, data value creation, and autonomous systems/smart factory to Schaeffler specialists and senior management representatives.

The contestants came not only from Germany but also other countries including Israel, Australia and Canada. From 100 start-up companies, 13 came through a pre-selection round. Those presenting the most convincing ideas and talents will be offered the chance to start business with Schaeffler as an investor, partner or customer.

Prof. Dr-Ing. Peter Gutzmer, Chief Technology Officer and Deputy CEO of Schaeffler AG at the first Schaeffler Venture Forum says: "Digital services are increasingly complementing conventional business models in the automotive and mechanical engineering industries. As a supplier to these industries, we not only respond to this trend, but we are also actively shaping these fields, so that we are able to offer new, digital services and business models to our customers. In order to implement these quickly and in a target-oriented manner, we are continuously expanding our collaboration with start-up companies."

Prof. Dr Tim Hosenfeldt, Senior Vice President Corporate Innovation at Schaeffler AG adds: "Our day-to-day actions are characterised by our mission to ensure sustainable, profitable growth with our innovations and to shape the future of mobility. All of the ideas that the start-up companies presented today for our products and services were convincing. For this reason, we are going to remain in dialogue with all of them in order to initiate specific collaboration projects. After all, speed is a decisive factor for success in the digital age."

Being an innovation leader, Schaeffler is consistently expanding its research and development work, examples of which can be seen in collaborations with the Friedrich Alexander University of Erlangen-Nuremberg ("Schaeffler Hub for Automotive Research in E-Mobility" at FAU Erlangen-Nuremberg), the Karlsruhe Institute of Technology (SHARE at KIT), the Fraunhofer Institute in Munich, and the Munich Network. Furthermore, Schaeffler is a founding partner of the "Zollhof Digital Center for Founders" in Nuremberg and a partner of Factory Berlin.

More information about the Schaeffler Venture Forum can be found at www.schaeffler.co.uk.

Schaeffler (UK) Ltd

Unit 308, Fort Dunlop
Fort Parkway
BIRMINGHAM
B24 9FD
UNITED KINGDOM

+44 (0)121 313 5830

info.uk@schaeffler.com

www.schaeffler.co.uk

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