Tata Steel organises Start-up Night - ‘IGNITIA’ to mark the success of Innoventure

Jamshedpur, February 17, 2024

~ Innoventure is Tata Steel's flagship start-up engagement programme ~

~ The Company is currently working with 50+ start-ups to explore cutting-edge technological solutions to address challenges in the steel value chain ~

Tata Steel organised the inaugural edition of ‘Ignitia’ - a start-up night, to celebrate the success of its start-up engagement programme 'Innoventure' on February 16.

More than 300 people, including founders of over 20 start-ups and senior leadership from Tata Steel, participated in the start-up night ‘Ignitia’ held in Jamshedpur. Tata Steel felicitated the outstanding projects undertaken by start-ups and various business units of the Company that supported and championed the cause of the start-up engagement. The event was marked by insightful discussions, productive exchanges, and joyous celebrations.

Innoventure, now in its fifth year, is Tata Steel's flagship start-up engagement programme to enable collaboration with start-ups and external partners to address challenges in the steel value chain and other identified interest areas through technological interventions. The thrust areas include decarbonisation, mining, surface engineering, advanced materials, operational excellence, waste energy recovery and water treatment, safety and sustainability. The Innoventure programme scouts and identifies relevant start-ups through its robust global network of partners like venture capital firms, academia, government organisations, and market intelligence platforms.

Dr Debashish Bhattacharjee, Vice President, Technology and R&D, Tata Steel, said: “The Innoventure ecosystem of Tata Steel, created over the last four years, is testament to India’s emerging capabilities within start-ups in many different fields. Tata Steel hosted Ignitia, an event to recognise successful implementation of solutions provided by start-ups. The technologies included carbon capture, waste heat utilisation, robotics for defect detection and underwater drones. Ignitia celebrated the success of this ecosystem that thrives on the strength of the engagement between some of the brightest minds in the start-up world and our colleagues at Tata Steel. These are early days. We expect to expand the scope of our start-up collaboration in the future.”

In the past four years, the Innoventure ecosystem has delivered tech-based solutions for surveying water bodies to estimate the water bed health and its banks, developed smart sensor solutions for the Industrial Internet of Things (IIoT) enabling remote monitoring, process optimisation and predictive maintenance in any manufacturing setup, built intelligent API-integrated plug-and-play surveillance system for anomaly detection and powerful insights for safety norms and ground-breaking technology for creating a sustainable future by unlocking the full value of our natural resources with zero-waste technology.

Disclaimer

Statements in this press release describing the Company’s performance may be “forward-looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.

For queries and information

Sarvesh Kumar,

Chief Corporate Communications - Tata Steel,

E-mail : sarvesh.kumar@tatasteel.com

About Tata Steel

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 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$30.3 billion in the financial year ending March 31, 2023.
A Great Place to Work-Certified^TM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 77,000.
Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045, Net Zero Water consumption by 2030, improving Ambient Air Quality and No Net loss in Biodiversity by 2030.
The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants.
Tata Steel aspires to have 25% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023.
The Company 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.
Tata Steel’s Jamshedpur plant is India’s first site to receive ResponsibleSteel^TM Certification. Subsequently, its Kalinganagar and Meramandali plants have also received the certification. In India, Tata Steel now has more than 90% of its steel production from ResponsibleSteelTM certified sites.
Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2023 Steel Sustainability Champion recognition from worldsteel for six years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet's India's top 500 companies 2022, Ranked as the 2023 most valuable Mining and Metals brand in India by Brand Finance, and ‘Most Ethical Company’ award 2021 from Ethisphere Institute.
Received 2022 ERM Global Award of Distinction, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the seventh consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.