GMR Innovex unveils blockchain project

To identify and incubate startups, GMR group, an airport infrastructure firm, has unveiled its Blockchain Centre of Excellence (CoE) project. The firm announced the development in a press release on its handle. The GMR group says the launch is part of its plan to expand the GMR Innovex. The firm aims to catalyze innovative product development under the guidance of business leaders and domain experts.

The GMR group will partner with its blockchain allies. The group recently signed a memorandum of understanding (MOU) with other firms to identify and explore blockchain-related technology that can be utilized for the airport and ancillary business. It reportedly signed the agreement with ideals, Polygon, Koinearth, and India Blockchain Forum.

According to the GMR Airports ED-south and chief innovation officer SGK Kishore, the firm intends to partner with various Distributed Ledger Technology (DLT) actors. Kishore revealed that this partnership would create many applications for the DLT landscape.

Furthermore, Kishore believes the industry is gradually paying attention to the utilities and values of the DLT systems in diversified infrastructures like airports. According to him, there are similar blueprint cases the firm is building on. Kishore further stated these cases would aid the GMR group in establishing transparency, trust, data bartering, and shared value and experience among its partners and customers.

In addition, the firm has appointed Pankaj Diwan, a blockchain expert, as its chief evangelist to lead the GMR Innovex BlockChain CoE project. Also, the CoE project will oversee various innovation activities such as hackathons and startup accelerators. These activities will help enhance innovation and startup activity within the blockchain sphere.

GMR-Innovex is a subsidiary of the GMR group. The initiative was founded in 2021 to facilitate innovation. It has entered some innovation-focussed partnerships with multiple new partners. Some of its new partners include Airbus, Plug and play, a renowned global corporate innovation firm, Swedish Institute (SI), and T-Hub, a Hyderabad-based innovation intermediary and business incubator.

GMR Innovex has partnered with IIT-Hyderabad, International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), and Schulich Business School (Business School of York University Located in Toronto, Canada).

Also, the group recently constructed a new facility on the Hyderabad Airport campus earmarked for its innovative project. The new facility serves as a forum for various innovative activities. This will bring various startups, industry partners, and GMR employees together.

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