Rolls-Royce plans to tap innovation talent

Rolls-Royce on Wednesday launched its India Open Innovation programme, which would help them buy or license technologies outside Rolls-Royce's traditional areas of operation but are new and potentially beneficial to the company.

This exercise, the company believes, would give them access to a lot of innovations happening in India and would mutually benefit the partner company through successful partnerships and collaborations in India.

“After doing a pilot programme in Japan, we are looking forward to the innovation programme in India through its adequate presence of skills in creative problem solving,” Rolls-Royce Chief Scientific Officer Paul Stein said.

In 2012, Rolls-Royce invested £919 million on R&D, two thirds of which had the objective of further improving the environmental performance of its products.  Rolls-Royce, which operates in the areas of civil and  defence aerospace, marine and energy, had an annual underlying revenue of £12.2 billion in 2012 and announced order book was £60.1 billion on December 31, 2012.