FedEx Unveils FedEx Innovation Lab for Collaborative Ventures with Early-Stage Startups
- ByStartupStory | May 25, 2023
FedEx has unveiled the FedEx Innovation Lab (FIL) in India with the goal of fostering and partnering with emerging digital startups. The establishment of this lab aims to provide early-stage investments to these startups and leverage the expansive FedEx network, resources, and worldwide customer base to enhance their capabilities and accelerate their market entry. This move underscores FedEx’s commitment to nurturing innovation and collaboration within the startup ecosystem.
The partnerships formed through FIL are expected to benefit customers globally. “There is much mutual benefit that can be gained as well as atremendous opportunityto help transform the global logistics industry. We would welcome any interest from innovators in India with a shared interest in our vision,” said Kami Viswanathan, Senior Vice President, FedEx Express, Middle East, Indian Subcontinent, and Africa region.
Mad Street Den, an AI company specializing in computer vision, has become FIL’s inaugural investment. The startup’s advanced AI platform empowers marketing, product, and technology teams to enhance and streamline their operations effectively. This cutting-edge solution caters to various sectors such as retail, healthcare, finance, media and entertainment, education, and many others, providing exceptional optimization and efficiency.
“Innovation is embedded in our business strategy… We are committed to using advanced technology and data-driven insights to create smarter supply chains with differentiated offerings to deliver greater value and experience for customers,” said Kawal Preet, President, FedEx Express, Asia Pacific, Middle East, and Africa (AMEA).
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