Everything as a Service




As the need for ownership declines, how can we offer electrical equipment as a service?

When configured and operated in an optimal manner, electrical equipment can help to reduce energy consumption, improve productivity and optimize the costs of ownership. However, traditional ownership models may not allow these benefits to be fully captured.

A general trend in the market is towards using assets rather than owning them. Many consumers are leasing new cars rather than owning them and businesses are regularly using software and services on a subscription basis.

Furthermore, IFRS and other book keeping practices give limitations in which corporations can recognize revenue and have assets on their books.

In case of physical and industrial products this is not yet a mainstream business model as someone still needs to manufacture, own and maintain the equipment.

What would this service business model mean for the electrical equipment found in industrial facilities? How could this model be set-up, operated and managed? What are the advantages for our customers, our partners and ABB Drives? How can you help solve the evident questions related to the development?

Impress us with your solution that helps us and our customers to take the leap into this new business model.

Solutions to this challenge could involve new sales models or contract types, remote monitoring systems to report performance, new sales, marketing and invoicing approaches.

Your concept or innovation should be capable of delivering benefits to the customers of ABB Drives such as:

If you have an innovation or solution which addresses all or part of the challenge above, we would like to hear from you! We are looking to support the development of relevant technologies, provide access to funding, R&D expertise or customers and markets.

Let’s write the future together

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How does it work?

Submit your idea

Complete and submit a short application form on this site before 16th August 2019 – only include information already in the public domain

Get shortlisted

We select the best ideas and ventures during August and September 2019 and contact them directly to invite the winners to attend our November pitch day event

Make your pitch

Pitch your idea or venture directly to ABB Drives - we will select the best ideas or ventures to receive an offer from ABB Drives

Get an offer

We will make you an offer which could include funding, lab access, venture support or market access based on your needs

What’s in it for you?

Successful applicants will be invited to pitch their ideas and prototypes directly to ABB Drives at a live pitch event in November 2019 for the opportunity to be selected to receive an IdeaHub offer.

Market Access

If you are ready, we can provide support to access global markets or provide direct access to customers for in-market testing or initial sales

Drives & lab space

We can provide access to industrial drives to further test, refine or prove your solution - we can also provide access to world-class technology experts and provide shared lab space if required

Venture support

Benefit from the advice and expert support of an experienced technology team to develop and accelerate your concept or venture towards funding and revenues

Funding

Investment in return for a share of equity - the level of funding will be based on what it takes to get your concept or business to the next significant milestone

Your IdeaHub offer will be designed to successfully take you, your idea and your venture to the next level of development

Our timeline

3 June 2019 Applications open
16 August 2019 Application deadline
August and September 2019 Shortlisted candidates will be contacted for interviews
November 2019 Live pitch event and final selection

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