Welcome!

News Feed Item

Freudenberg Announces 23 ideaTrophy Prize Winners

PLYMOUTH, Mich., Feb. 17, 2014 /PRNewswire/ -- Freudenberg announced the winners of ideaTrophy, an open competition for new business ideas in targeted search-fields.  The competition which was open to Freudenberg employees and outside applicants attracted more than 600 idea submissions, 150 of which were considered for the ideaTrophy prizes. Approximately three quarters of ideas were outside submissions across seven targeted search fields. A total of 23 monetary prizes were awarded. Three of these prizes were awarded to U.S. innovators.

Dr. Matthias Messer, program administrator, is happy with the response the competition received: "We are very proud that so many creative minds and stakeholders showed outstanding initiative which resulted in submissions of a variety of brilliant ideas from individuals with diverse research interests from all over the world. Another important benefit is that we have established over 1,000 new relevant contacts in our targeted search-fields."

In April 2013, Freudenberg sent an open invitation for submission of innovative business ideas in seven search fields which correspond to its development strategy:

  • Health
  • Water
  • Renewable energy
  • Surface Technologies
  • Renewable resources
  • Oil & Gas
  • Railway and general industry vibration control.

"The seven search fields are in direct correlation with Freudenberg's strategy. The ideaTrophy campaign brought fresh ideas both from Freudenberg employees and outside inventors. It injected additional diversity of thought into our new business development discussions. We are especially proud that about 30 percent of all ideas came from the U.S. and three prizes were awarded to U.S. innovators," said Leesa Smith, Freudenberg North America president and regional representative.

All submitted ideas were evaluated by search-field experts. 150 of more than 600 submitted ideas were refined and posted on ideaTrophy website, and site visitors were invited to vote for the best idea. Finally, taking into account the votes received through the website, the jury made of Freudenberg executives announced 23 monetary prizes and one overall winner.

All 23 ideas are now receiving further scrutiny in order to establish the technical and commercial feasibility of each innovation and establish whether it could be transformed into a successful startup of an innovative business at or in cooperation with Freudenberg.

About the Freudenberg Group: The Freudenberg Group is a family-owned company offering customers technologically advanced and support-intensive products and services. The Group develops and manufactures seals, vibration control technology components, filters, nonwovens, surface treatment products, release agents and specialty lubricants, medical technology and mechatronic products. Freudenberg also develops software solutions and IT services primarily for small and medium-sized enterprises. Consumers enjoy Freudenberg's state-of-the-art household products marketed under the vileda®, O-Cedar®, Wettex®, Gala® and SWASH® brands. In 2012 the Freudenberg Group had 37,453 employees in 57 countries and generated revenue of more than 6.3 billion euros. More information about Freudenberg is available at www.freudenberg.com.

About Freudenberg in North America: Freudenberg North America Limited Partnership is the North American holding company for Freudenberg & Co. of Weinheim, Germany that owns a family of companies which operate 15 unique businesses at 86 locations in North America. Together, these companies provide innovative products and solutions to customers in industries ranging from automotive, aerospace, and medical to chemical, oil and gas, and construction. For further information, please visit www.freudenberg.us.

SOURCE Freudenberg Group

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2017 New York The 7th Internet of @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, New York. Chris Matthieu is the co-founder and CTO of Octoblu, a revolutionary real-time IoT platform recently acquired by Citrix. Octoblu connects things, systems, people and clouds to a global mesh network allowing users to automate and control design flo...
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
With 15% of enterprises adopting a hybrid IT strategy, you need to set a plan to integrate hybrid cloud throughout your infrastructure. In his session at 18th Cloud Expo, Steven Dreher, Director of Solutions Architecture at Green House Data, discussed how to plan for shifting resource requirements, overcome challenges, and implement hybrid IT alongside your existing data center assets. Highlights included anticipating workload, cost and resource calculations, integrating services on both sides...
Unless your company can spend a lot of money on new technology, re-engineering your environment and hiring a comprehensive cybersecurity team, you will most likely move to the cloud or seek external service partnerships. In his session at 18th Cloud Expo, Darren Guccione, CEO of Keeper Security, revealed what you need to know when it comes to encryption in the cloud.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, provideed economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session also included a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.