AVL Creators Expedition receives Fraunhofer Corporate Venturing Award

AVL List GmbH has received this year's Corporate Venturing Award from Fraunhofer Institute for Production Technology. The award, which is the result of a benchmark study in cooperation with the INC Invention Centre, focuses on the most successful innovation units of established companies. The study analyses how incubators, innovation labs, venture clienting units and venture builders can be successfully operated by established companies. The focus lies on five key aspects: Strategic mandate, organisation, processes, culture and mindset as well as performance management.

More than 70 companies from predominantly German-speaking countries took part in the study. The most successful companies were identified through statistical analyses and subsequent case study interviews. AVL's in-house startup initiative AVL Creators Expedition, which aims to develop innovations in partnership with startups, was able to win over the jury.

Viktoria Ilger, Team Lead AVL Creators Expedition: "We firmly believe that collaborative innovation in partnership with start-ups is a key to success in a rapidly changing world. Our approach is based on a partnership of equals and a simplified process that enables us to achieve initial results quickly and establish a clear direction." 

Sebastian Jagsch, Global Head AVL Creators Expedition: "The award underlines AVL's outstanding performance in the area of corporate venturing and emphasises the company's commitment to innovation and technological excellence. It also strengthens the company's position as a leading innovation organisation. AVL remains committed to staying at the forefront of technological advancement through continuous investment in research and development and the promotion of innovative corporate structures."

BASF Chemovator, Mann+Hummel i2M Europe, Mitsubishi Chemical Group Growth Garage, Siemens Mobility StationX also emerged as winners.