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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 'Dare To Try' category, that showcases a growing culture of risk taking and perseverance across Tata companies, 314 projects were presented. Tata Technologies for its 'seats with changeable orientation' and Tata Consultancy Services for 'TCS Insurance Fraud Detection Solution (IFDS)' bagged awards in the category, that recognises and rewards the most novel, daring and attempted ideas that did not achieve the desired results.
Promising categoriesIn 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'. The category recognises and rewards the most innovative technology that is being developed and piloted, but is yet to be commercialised.
S Padmanabhan, Executive Chairman, Tata Quality Management Services (TQMS), Tata Sons, noted that over 130 projects were collaborative this year, indicating that Tata companies were increasingly able to come together to leverage the synergies of the diverse group.
Gopichand Katragadda, Group Chief Technology Officer, Tata Sons, pointed out that technology differentiated innovation would position the Tata group for future growth.
Focus areasThe Group has identified four focus areas: sustainable energy, food and wellness, consumer electronics and factory and fleet digitisation.
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