INSIGHT ISSUE 02 | 2021

18 Enabling the Digital and Energy transition An innovation ecosystem that is bigger than the sum of its parts The Group’s product line-up benefitted from projects delivered by Corporate Hangar and Prysmian Electronics in 2020, and more are in the pipeline this year. P rysmian Group’s R&D team works in tandem with “innovation factory” Corporate Hangar (partly owned by Prysmian), and with fully-controlled Prysmian Electronics, to create new products with add-on features that go beyond its core cables business. The Group’s product line-up is benefitting from this approach through projects delivered by Corporate Hangar and Prysmian Electronics in 2020, and more is in the pipeline this year. CorporateHangarwas founded in2017, and its teamof entrepreneurs, university professors, engineers, physicists, project managers, and designers work to develop two new start-ups a year for Prysmian, which retains an equity stake. Prysmian Group confirmed its commitment to Corporate Hangar in 2020 for three more years, said Corporate Hangar Managing Partner Markus Venzin. Corporate Hangar’s Alesea start-up is a good example of how it works with Prysmian Group in an open innovation model. Prysmian customers said they wanted to make cable drum management more efficient, sparking an idea internally for an IoT smart device installed on the drum, letting customers track its location and their cable inventory. Alesea was created in 2019, and in 2020 the Tracking the Future Prysmian Group’s innovation ecosystem helps it tap into the expertise of the very best technology providers, so that the company can quickly enrich its existing product offering to adapt to market needs.