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New Delhi: The GMR Group has floated a new business vertical -- GMR Innovex -- to foster and drive innovation with startups, academia, research institutions and other platforms, the infrastructure major said on Friday.

"GMR Innovex will operate on an ‘Open Innovation’ model, acting as an ‘Innovation Exchange’ to partner with startups, corporates, innovation platforms, research institutions and academia to bring innovative ideas and solutions to life and help to nurture and sustain a culture of innovation and entrepreneurship," the company said. The new vertical will focus on innovations across both digital and non-digital domains to deliver improved efficiency, better customer experience and higher value to all stakeholders, it added.

"A dedicated new facility for innovation has also been established at the Hyderabad Airport campus to act as a platform for various innovation activities by various collaborating startups, industry partners and GMR employees," it added.

GMR Innovex has announced partnerships with several companies like Airbus SE, Plug and Play, Swedish Institute (SI), T – Hub (Innovation intermediary and business incubator based in Hyderabad); IIT-Hyderabad; International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) and Schulich Business School.

"Given the potential of today’s new-age, digital savvy, entrepreneurial generation, our objective is to create a culture and atmosphere of innovation and take forward some of the best ideas to their logical fruition on a global scale through this new vertical," added GBS Raju, business chairman – Airports, GMR Group.

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