To strengthen and expand the Volvo group business, the CampX Venture Builders mission is
to bring new products and services to market with speed.
With a tire pressure monitoring system, the driver is informed if one of the tires loses the pressure but today rather few heavy-duty vehicles are equipped with such a system. Roman Iustin, a Volvo Group engineer, had an idea on how to make this process more efficient with an automated calibration system. Through campX, the Volvo Group’s global innovation arena for technology and business transformation, Roman Iustin got support to validate the solution and business potential. The validation showed a high customer value and with the solution being slightly outside current Volvo Group’s business, the decision was to make a “spin out” and build a new venture. This was done with speed using the CampX concept with support from many areas within the Volvo Group, like Legal, IP strategy, Finance, Tax, HR and Purchasing.
Pilot tests performed with a Volvo Penta customer showed a significant fuel reduction. The idea was lifted out of Penta to be further evaluated in CampX & it was decided to spin off into a company of its own. The iHelm idea came from within the new technology development team at Penta, led by Ethan Faghani. By initiating cetasol , Penta and Qamcom Group are investing in the start-up of the company which will be led by co-founder Ethan Faghani. When bringing the i-Helm project to CampX it brought speed and focus to finding the right partner and set up the start-up company.
At CampX we work with speed and agility, trying to do things in new ways, all with the ultimate goal to accelerate innovation. Part of our scope is to support great ideas that come from our internal innovators.
Through the CampX framework and Venture Builder process the Volvo Group product and business owners get support to validate and bring forward cases with high business potential. If market value is proven high a new venture is created, either inside Volvo or externally as spin out. Key to get speed is the cross functional established CampX network with Legal, IP strategy and Group Finance as well as Purchasing.
An idea/innovation can come from a Volvo Group Engineer/ Intrapreneur or IP portfolio. The Intrapreneur and Venture Builder core team will then validate the idea/innovation by testing the business case, technical feasibility, customer demand and much more. After the validation phase the team will start the work to turn the validated concept into a real product in the market.
The next step is to take the decision to go for spin out or fast track. Here the Venture Builder can support the company or hand over to line organization.