Indian mining conglomerate Vimson Group and innovation hub New Lab have partnered to establish a venture studio programme, Prospect Mining Studio, for exploring new possibilities in the sector.
The partners are inviting global start-up firms to apply and join the venture studio for the development of transformative products that will have a positive impact on the mining industry.
Prospect Mining Studio brings entrepreneurs and industry experts together to address the challenges in the mineral and natural resource mining sector.
The venture studio programme creates growth within the mining industry, sustainably by harnessing frontier technologies such as synthetic biology, computer vision, advanced sensor technology, machine learning (MI) and artificial intelligence (AI).
Start-ups across the world can join Prospect Mining Studio by submitting applications through prospectminingstudio.com, to develop products that transform the mining industry.
New Lab CEO Shaun Stewart said: “Everyday tasks from driving, communicating to eating rely on mining industry resources, which provide the foundation of modern life.
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“Prospect Mining delivers a platform for advancing mineral and natural resource extraction by convening diverse, bright minds from academia, the mining industry and frontier technologies to solve significant challenges today.”
With the expertise of New Lab and Vimson, Prospect Mining Studio will focus on enhancing sustainability, environmental sensing, worker performance and safety, and mineral extraction.
It will also work towards the enhancement of closed-loop production, energy efficiency, and data optimisation.
Vimson Group director Vivek Salgaocar said: “With New Lab, we have found the perfect partner to bring new ideas and opportunities to one of the world’s oldest and most crucial industries.
“Prospect Mining will build a network of partners who can leverage their shared expertise to develop new insights into the field of mining, and allow entrepreneurs the ability to define challenges, prototype rapidly where needed and implement pilots at mining sites.”
Prospect Mining Studio is looking for applicants using technologies such as synthetic biology, AI, robotics and automation, energy harvesting, data science and computer vision.
The applied participants will build proofs-of-concept (PoC), and pilot solutions at Vimson and other partner mining sites.