Prysmian Group is rolling out a new innovation process, and 2019 will be a very important year in this journey, explains Srinivas Siripurapu, EVP and Chief R&D officer. Here are three main reasons why.
Firstly, the group is aiming to improve its innovation track record in the three-to-five-year window. Prysmian Group already has a good track record in short-term innovation in terms of making products be as efficient as possible. And it excels at long-term innovation because of its ability to look out at a five-to-ten-year horizon.
The focus on improving near and mid-term innovation is customer driven, says Siripurapu.“We want to put ourselves in customers’ heads and shoes,” he affirms. "We want to spend more time in the field with our customers and understand how to make our products work better for them.”
Innovation therefore does not take place in an ivory tower or solely in a lab. The key to being customer driven is to understand end use and to think about innovation that can benefit the customer. FlexRibbon is an example of a recent successful innovation that came out of an understanding of how customers use our products, Siripurapu says.
Prysmian Group already excels at innovation, and has a strong position in core technology platforms such as fire resistance, design modeling, material science and process technologies for both Energy and Telecom Cables. It has a total of 5,627 patents worldwide. Investments across Prysmian Group on research, development and innovation during 2018 totaled around €105 million, confirming a strong commitment to sustainable growth over the long term. We are positioned well for growth through innovation in emerging areas such as long distance HVDC transmission networks, high depth submarine cable systems, 5G/Internet of Things applications and autonomous driving.
For longer term innovation projects, the focus is on nanotechnology, surface science, sustainable materials & processes, fiber sensing and electronics.