Three innovative startups awarded at first Novares Venture Day

On 9 October, Novares Group, a French global plastic solutions provider specialising in components and systems for the automotive industry, held its first ever Venture Day in Paris, in which awards were given to three startup companies from a field of eight pitching their ideas to an expert jury. The event, at Pavillon Gabriel, was set up around ‘green mobility’ and was attended by key players from the investment and innovation ecosystem.

The Novares award winner, was Wiliot, an Israeli fabless semiconductor company developing passive System on a Chip (SoC) platforms for the IoT market.

The two Jury prize winners, were :

Tribosonics, a British high-tech scale-up taking sensing technologies into uncharted and valuable territories.

Lingrove, a materials and design Californian firm focused on plant based fibres and resins.

The Novares Venture day is aimed at showcasing some of the most promising international start-ups that could go on to become innovation partners with Novares, working together on technologies and innovations to be incorporated into the cars of the future.

Novares' commitment to innovation is central to the company’s growth strategy along with strategic acquisitions and investments. To invent the vehicle of the future, Novares relies upon three strategic pillars: its R&D – a 750-strong worldwide research and development team and 5,4 % turnover dedicated to innovation – the Nova Car open innovation lab and Novares Venture Capital to invest in strategic innovation partnerships and start-ups, with the aim of developing long-term partnerships.

So far, the company has invested €12-million of its fund in four startups and innovative companies: Flexenable, APAG CoSyst, Actronika and Quad Industries and has signed co-development partnerships with startups such as TG0. Novares latest demo car, the Nova Car 2, revealed in June 2019 in Paris is now touring the world to showcase its 25 innovations to the world leading car manufacturers in Europe, the United States and Asia.

Novares is planning two further Venture Days in the first half of 2020, one in Detroit, Michigan, US and another in Shanghai, China.

Novares CEO Pierre Boulet said: “Novares Venture Day is an exciting new initiative by the company that aims to give greater visibility to some of the most promising startups and allow them to present their initiatives to Novares and a wider audience. For us, it is a chance to better understand and evaluate the innovations and see whether there are opportunities for future cooperation and development. We are ready to invest in innovation and committed to the fast-track integration of promising ideas into our automotive offer.”

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