International power and automation technology group ABB announced last month that innovation platform The IdeaHub is recruiting hardware and software innovators worldwide.

These innovators are needed to take on the challenge of transforming the role of drives in an industrial setting that might include improving the design, use and operation of drives or finding new uses for drives.

The IdeaHub will help successful applicants pitch their ideas and secure uniquely tailored support packages to increase their venture’s commercial potential, including funding, research and development expertise, customers and markets or a funded concept acceleration sprint.

The IdeaHub is a cross-sector, open innovation platform that connects visionaries worldwide with funding and support from global corporations. It launched its first programme in 2015 for ABB’s robotics business unit, attracting more than 130 applicants. Twelve finalists presented their ideas in London, with six ventures receiving an offer of support and collaboration.

The IdeaHub has partnered and will partner with ABB’s drive and controls business unit in 2016 and 2017 to find solutions to the core challenges of connectivity, simplicity and intelligence for the next generation of drives and controls.

The platform is open for applications until January 31, 2017. Successful applicants will get the chance to pitch their ideas directly to ABB in April at an IdeaHub event.

Engineers, students, academics, entrepreneurs and businesses with an idea, concept or technology that can address any of the challenges holistically or partially are invited to apply to possibly further develop their ideas with ABB.

ABB drives and controls MD Morten Wierod says: “We are excited to announce this competition and look forward to receiving ideas from innovators around the world. ABB is at the forefront of the Fourth Industrial Revolution and collaboration with our partners, customers and other entrepreneurs is the key to building emerging ecosystems around the industrial Internet of Things.”

He adds that strategic partnerships help develop solutions that not only improve customers’ operational performance and productivity by increasing uptime, speed and output but also help reduce time-to-market for these solutions.

The IdeaHub’s Simon Blair describes the programme as “a great opportunity for hardware and software innovators and entrepreneurs worldwide to collaborate with a leading drives company and take their idea to the next level”.

Previous winners included early-stage start-ups and research projects, with offers made ranging from hardware loans to funding and technical collaboration.