HONG KONG, June 22 – FedEx Corp. (NYSE: FDX) has unveiled the FedEx Innovation Lab (FIL), a pioneering initiative aimed at nurturing and partnering with emerging digital start-ups in India and the broader region. The FIL will foster early-stage investments in these ventures and leverage the extensive FedEx network, resources, and global customer base to provide additional value, capabilities, and accelerated market access. By forging strategic collaborations, FedEx aims to enhance its digital prowess worldwide and meet the evolving demands of the modern supply chain, benefiting customers on a global scale.
The first investment made by FIL is in Mad Street Den, a trailblazing company specializing in computer vision and Artificial Intelligence (AI) solutions. Renowned for its expertise in enterprise AI, Mad Street Den’s platform empowers marketing, product, and technology teams across diverse sectors such as retail, healthcare, finance, media and entertainment, and education to optimize efficiencies and drive innovation. Innovation lies at the heart of our business strategy. As we commemorate our 50th anniversary this year, the launch of FIL represents another exciting stride towards shaping ‘What’s Next’ for our customers.
We remain committed to leveraging advanced technology and data-driven insights to build intelligent supply chains, offering unique solutions that deliver enhanced value and experiences for our customers, expressed Kawal Preet, President of the Asia Pacific, Middle East, and Africa (AMEA) region at FedEx Express. FIL is actively seeking additional partnerships to catalyze the development of intelligent logistics solutions. With a primary focus on India, a nation that has made significant strides in the Global Innovation Index, FIL is poised to tap into a vibrant ecosystem of early-stage digital logistics firms, curating a robust portfolio of partners for FedEx.
Moreover, the broader region presents a fertile ground for technological innovation and collaboration opportunities. India currently boasts the world’s third-largest start-up ecosystem and serves as the nucleus for global technology leaders’ innovation strategies. This makes it an ideal market for the FedEx Innovation Lab to forge technology-driven partnerships,” remarked Kami Viswanathan, Senior Vice President at FedEx Express for the Middle East, Indian Subcontinent, and Africa region. There is immense mutual benefit to be derived from this approach, alongside a tremendous opportunity to revolutionize the global logistics industry.
We eagerly invite innovators who share our vision to express their interest and join us on this transformative journey. With the FedEx Innovation Lab at the helm, FedEx is poised to accelerate digital advancements, drive industry-wide transformation, and spearhead the creation of smart logistics solutions. By combining the entrepreneurial spirit of start-ups with the global reach and expertise of FedEx, the FIL seeks to shape the future of logistics and elevate customer experiences to unprecedented heights.