Leading Indian mining conglomerate, the Vimson Group, and innovation hub, New Lab, have announced a partnership to establish the Prospect Mining Studio, which they say is the “first venture studio program bringing together entrepreneurs, industry experts, and academics to address the biggest challenges facing the mineral and natural resource mining sector. Vimson and New Lab are calling on startups all across the globe to apply and join Prospect Mining Studio to develop transformative products that will positively impact the mining industry.”

“Pairing New Lab’s leadership in advancing emerging technologies and Vimson’s unparalleled expertise in the industry, Prospect Mining Studio will focus on enhancing sustainability and closed-loop production, environmental sensing, worker performance and safety, mineral extraction and energy efficiency, data optimisation, and more.

“We’re thrilled to partner with Vimson Group to bring the Prospect Mining Studio to life and to support entrepreneurs in transforming the mining industry through novel technology,” said New Lab CEO, Shaun Stewart. “From the food we eat to the electronics we use daily, we rely on the mining industry for many of the most basic resources that provide the foundation of modern life. Prospect Mining provides a platform for advancing mineral and natural resource extraction by bringing together diverse, bright minds from academia, the mining industry and frontier technology to solve real challenges today.”

“Vimson has always believed that our industry has to stay on the cutting edge. With New Lab, we have found the perfect partner to bring new ideas and opportunities to one of the world’s oldest and most critical industries,” said Vivek Salgaocar, Director of the Vimson Group. “Prospect Mining will build a network of partners who can leverage their shared expertise to develop new insights into the mining field, and give entrepreneurs the opportunity to put their ideas to work with meaningful, real-world applications.”

Prospect Mining Studio is seeking applicants working across next-generation technologies, not only in the mining industry directly, but also in adjacent areas such as AI, robotics and automation, data science, computer vision, energy harvesting, and even synthetic biology. Participants will build proofs of concept, and eventually pilot technologies at a number of Vimson and partner mining sites. The Studio will also tap into a diverse network of experts in both the mining industry and applicable technologies.

To be considered for the first 12-month program cycle, entrepreneurs are invited to submit applications at https://prospectminingstudio.com through December 6, 2019 where teams will be selected on a rolling basis. The program will commence on December 11, 2019 at the inaugural Prospect Mining Studio Summit and culminate with a demo day in July of next year.