Tata Steel launches the 4th edition of its mega open Innovation Event MaterialNEXT
Mumbai, November 26, 2022
~ MaterialNEXT – A platform to bring scientists, researchers, and start-ups together to explore the wonder materials of tomorrow ~
~ The focal theme for this edition is ‘Materials to Wonder’ ~
~ The programme will span five months in three stages (Idea Selection, Idea Development, and Idea Evaluation) ~
Tata Steel, today, launched the fourth edition of MaterialNEXT, the Company’s flagship open innovation event in the emerging materials domain. The focal theme for this edition is ‘Materials to Wonder’ with an objective to crowdsource ideas around emerging materials and their unique applications.
Four major materials/technology subject areas have been introduced with the launch of MaterialNEXT 4.0 – Applied Nanomaterials, Novel Composites, Emerging Construction Materials, and Energy Materials. Within each of these four theme areas, there are numerous application-related issues that have been defined, making it easier for participating teams to start registering ideas. The programme will entail two parallel tracks – the ‘Research Track’ will concentrate on concepts from major academic institutions and research facilities across India; and the ‘Start-up’ track will concentrate on start-ups that have emerged from incubator cells at the institute level.
On the launch, Dr. Debashish Bhattacharjee, Vice President, Technology & New Materials Business, Tata Steel, said: “At Tata Steel, we continue to develop innovative solutions and breakthrough technologies across the steel value chain, by leveraging our Research & Development strengths and collaborating with a broader community of scientists, researchers, start-ups and industrial organisations. Our MaterialNEXT platform incubates young minds in the advanced materials space to promote technology thought leadership. This has the potential to shape-up breakthrough products and processes in the emerging areas of advanced materials.”
Tata Steel Advanced Materials Research Center (TSAMRC) oversees the Company’s ‘Technology Entrepreneurial’ initiative in the new and emerging materials domain and has been organising this initiative since 2019. Starting at IIT Madras campus, the programme has seen significant expansion to the pan-India level and outreach to leading academic institutes and research centers over the years. MaterialNEXT has played a crucial role in the technology portfolio expansion of TSAMRC.
MaterialNEXT 4.0 will span five months in three phases: Selection (Idea Selection), Performance (Idea Development) and Finale (Idea Evaluation). Post registration by teams, the Selection Phase is a 2-stage process of an online screening followed by discussion-cum-evaluation stage, conducted by subject matter experts. The selected entries will progress to Performance Phase. Performance Phase ends with an evaluation (Pre-Finale) round. The selected entries from this phase qualify for the Finale Phase and will be called for the Grand Finale to decide winner and runner-up. The Grand Finale will be held on Technology Day, May 11, 2023.
In addition to mentorship and incubation support from TSAMRC during the event’s idea development phase, internal and external subject matter experts will be participating in various phases of the event. Each track’s winning and runner-up teams would receive monetary awards as well as funding offers for the most promising concepts to be developed into long-term joint ventures.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world. The group recorded a consolidated turnover of US $ 32.83 billion in the financial year ending March 31, 2022.
A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000. Tata Steel has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of ResponsibleSteelTM, worldsteel’s Climate Action Programme and World Economic Forum’s Global Parity Alliance, Tata Steel has won several awards and recognitions including the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants, and Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India’s most valuable Metals & Mining brand by Brand Finance, featured amongst CII Top 25 innovative Indian Companies in 2021 and top 10 sustainable organisations of India Hurun Research Institute in the 2021 Capri Global Capital Hurun India Impact 50, received Steel Sustainability Champion recognition from worldsteel for five years in a row, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, RIMS India ERM Award of Distinction 2021, Masters of Risk – Metals & Mining Sector recognition at The India Risk Management Awards for the sixth consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.
To know more, visit www.tatasteel.com and www.wealsomaketomorrow.com.
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Chief, Corporate Communications