How does a global industrial leader with over a century of engineering heritage innovate at the speed of a tech startup? At IAA TRANSPORTATION 2026, CampX by Volvo Group was awarded „Program Excellence“ at the Open Innovation Awards for establishing one of the commercial vehicle industry’s most effective Venture Client engines.

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The Venture Client Model: Demand-Driven Innovation

Founded in 2019, CampX is Volvo Group’s global innovation hub. Over the past seven years, it has evolved from running isolated pilot projects into a strategic, group-wide open innovation platform.

At the core of CampX is the Venture Client model, connecting Volvo Group with innovative startups as an early and in many cases, the first customer, turning promising technologies into validated business solutions.

Validation in Action: Working with the Industry's Best

The true proof of a Venture Client program lies in the quality of the startups it attracts and scales. A prime example is K2 Mobility, a startup that collaborated with Volvo Group through CampX to tackle integrated charge and energy management for heavy electric commercial fleets.

At IAA TRANSPORTATION 2026, K2 Mobility was named the winner of the inaugural IAA Startup Award powered by Plug and Play. K2 Mobility’s recognition on the global stage reinforces that our jury’s choice for „Program Excellence“ is a direct reflection of reality: CampX consistently identifies, engages, and scales the absolute best-in-class startups in the mobility ecosystem.

The CampX Operating Principles

  • Start from Real Business Needs: Innovation at CampX is strictly demand-driven. Projects only start when a Volvo Group product or business owner, engineering head, or business unit identifies a specific operational or customer challenge.
  • Lean Proof-of-Value (PoV): Partnerships are evaluated through short, focused PoV projects designed to test specific business impact and customer value with minimal overhead.
  • Co-Creation, Not Supplier Vendor Management: Startups work side-by-side with Volvo engineers, gaining direct access to product owners, legal, IP, and purchasing teams.
  • Physical Proximity to R&D Decisions: CampX hubs are located directly within major Volvo Group R&D centers in Sweden, France, India, and North America, placing startups in physical proximity to key decision-makers.

The Metrics: 180+ PoVs, 20+ Commercialized Products, 2 Spin-Outs

The structured yet agile methodology of CampX has delivered extraordinary numbers across the global Volvo Group entity:

  • ⚡ 180+ Proof-of-Value (PoV) Projects launched and evaluated.
  • 🚀 20+ Solutions Commercialized and integrated directly into Volvo Group’s product roadmap or operations.
  • 🏢 2 Spin-Out Companies successfully launched.
  • 💰 2 New Revenue Streams generated for the Group.

Just as importantly, CampX demonstrated that massive innovation outcomes can be achieved with lean resources by adopting a „test before you invest“ mindset that dramatically accelerates decision-making.

Building Trust with the Startup Ecosystem

For a traditional engineering powerhouse, working with early-stage startups requires a cultural evolution. CampX built its reputation on transparency, fairness, and speed.

„Startups are not treated as external suppliers, but as true co-creation partners. By combining the speed and creativity of startups with the scale and expertise of a global industrial leader, CampX continues to strengthen Volvo Group’s position at the forefront of sustainable transport.“

— Jury Statement, Open Innovation Award 2026

By anchoring innovation directly within core business units, CampX ensures that every validated technology addresses a clear business and/or customer need. Selected projects are then assessed for scaling readiness, creating a streamlined path from successful validation to full commercial deployment.
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