Freudenberg Announces 23 ideaTrophy Prize Winners

The competition attracted more than 600 idea submissions, 150 of which were considered for the ideaTrophy prizes. End Quote

(1888PressRelease) May 06, 2014 - Freudenberg announced the winners of ideaTrophy, the open competition for new business ideas in targeted search-fields. In 2013 the globally active Freudenberg Group has launched the idea competition for external applicants. Technology providers, research institutes, start-ups and other market experts have been called upon to submit their ideas to the 2013 international "ideaTrophy" together with Freudenberg's almost 40,000 associates. Approximately three quarters of the ideas were outside submissions across seven targeted search fields. A total of 23 monetary prizes were awarded. One of these prizes was awarded to Indian innovators for a concept in the field of renewable energies. In total almost 10 percent of the ideas came from India.

"The constant search for innovations spurs our associates on and forms the basis of our company's long-term and sustainable success," explains Dr. Joerg Matthias Grossmann, Regional Representative for the Freudenberg Group in India. "We are very proud that so many creative and innovative minds are working for us here in India. Our people showed outstanding initiative which resulted in a submission of a variety of brilliant ideas from individuals with diverse research interests from all over the world."

Dr. Matthias Messer, program administrator, is also proud about the high response within the competition. "Besides the great ideas received, an additional important benefit is that we have established over 1,000 new and relevant contacts in our targeted search fields of health, water, renewable energy, oil & gas, railway and general industry vibration control."

"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", said Dr. Grossmann. With almost 10 percent of all ideas, India was very strong in the competition - and the first prize in the category renewable energy was donated to Indian presenters. The project is a promising business project for the automotive industry and beyond. 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 company offering its customers technically challenging product solutions and services. The Group develops and manufactures seals, vibration control components, filters, nonwovens, products for surface treatment, release agents and specialty lubricants, medical and mechatronic products especially for mid-size companies Freudenberg develops software solutions and IT services. The end-user can find modern Freudenberg household products in the shops under the brand names of vileda®, O-Cedar®, Wettex®, Gala® and SWASH®. The Freudenberg Group employed about 40,000 people in about 60 countries and generated sales of more than €6.6 billion in 2013. For further information, please go to www.freudenberg.de.

About Freudenberg in India:
Freudenberg has held business ties with customers in India since 1920. Today, the Freudenberg Group has a workforce of about 3.000 employees at more than 30 locations. Ten companies are represented in India with production centers as well as sales and service offices. They serve most industries in India including automotive, energy and chemical, medical and pharmaceutical, textile, clothing, mechanical and plant engineering as well as consumer markets. For further information, please visit www.freudenberg.in.

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