Supplier Novares awarded the Best Open Innovation Strategy prize at G20 summit

Jun 18, 2019   Tier Suppliers

Novares Group has been awarded the Best Open Innovation Strategy at the G20 Marketing and Innovation Summit, which took place in Paris on 5 June.

The summit brings together over 500 top managers from across French industry, from major companies to innovative start-ups. Summit organizer Leaders League appoints an expert jury which awards prizes to the most successful companies in three major areas: growth, marketing and innovation.

The award recognises Novares’ investment in open innovation programmes and co-development, along with strategic acquisitions and investments. The company’s commitment to innovation is central to the company’s growth strategy which now ranks amongst the top 100 international automotive companies.

With a 750 strong R&D team worldwide and 5,4 % turnover dedicated to innovation, Novares adds to this internal R&D strike force the Nova Car Open Innovation Lab. The Group scouts in the Deep Tech Startups ecosystem to co-develop and showcase new solutions for its customers that shift the way cars interact with passengers and their environment, and are powered for greener mobility.

Novares has created Novares Venture Capital – a €50 million ($56 million) investment vehicle to invest in strategic innovation partnerships and start-ups, with the aim to develop long term partnerships. So far, the company has invested €12 million of its fund.

With its Nova Car 1, Novares demonstrated 16 innovations in partnership with 4 startups in vehicle technology and toured the world to give its customers a vision of the automotive future.

Nova Car 2, which will be unveiled on June 25 in Paris, will showcase 25 innovations in partnership with 10 startups and innovative companies, that shift the way cars interact and communicate with passengers and their environment, while also offering greener mobility.

Novares was represented by Luc Dornier, SVP Product Development, Pierre-Olivier Beck, M&A and Group Development VP and Christophe Cazes, Innovation Director.

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