ZF PRESENTS ITS DATA VENTURE ACCELERATOR
Putting data business on the fast track
At the all-digital CES 2021, ZF presented its new Data Venture Accelerator, a global venture data hub within ZF’s Innovation and Technology organisation.
The Data Venture Accelerator is reportedly being established to expand products that have successfully shown value and technology feasibility – from Innovative Proof of Concepts, to Mature Data Products. Turning such promising ventures into mature Data Businesses is the goal of the Data Venture Accelerator.
“ZF has had great success innovating valuable digital and data initiatives, and we now want to expand these approaches into scalable business offerings,” ZF Senior Vice President Corporate R&D, Innovation and Technology, Dr Dirk Walliser, said.
“With the Data Venture Accelerator we have developed an operational model which will allow such initiatives to more quickly and effectively translate into product offerings that will meet the needs of our customers and society.”
There are three major elements to the Data Venture Accelerator:
- Venture “Speedboats” – independent, autonomous, multi-disciplinary teams established solely to accelerate incubated data business to the market. Ventures are run like start-up companies and managed with Venture Capital-like governance.
- Data Business Centers of Excellence (CoE) – Expert resources to ensure consistent application of processes, methods, and tools to each of the Venture “Speedboats.”
- Joint Market Team – A paired team of ZF product-facing and dedicated Data business market experts, which will collaboratively work to address the needs of both existing and new customers.
Dr Walliser sees the Data Venture Accelerator as a key contributor to ZF’s future.
“ZF is able to generate added value and revenue for its customers with digital end-to-end data solutions and they will see more data product and service offerings from ZF resulting from the Data Venture Accelerator,” Dr Walliser said.
“As we develop greater Data Business proficiency, ZF will have expertise which will more effectively address customer and industry data needs.”
Using existing data intelligently
As more and more components in vehicles are equipped with sensors and become “smart” components, vehicles themselves become an enormous data source – because sensors collect data by design. This data can help to make mobility safer, more efficient and more convenient.
This also gives rise to new business models: making data economically viable for customers is one of ZF’s goals. Value is no longer only created by developing, selling and manufacturing a product, but can be monetised throughout its life cycle separately from hardware. By monetising data, ZF says customers can increase their earnings and strengthen their position in an increasingly competitive market.
For more from ZF, visit www.zf.com