The world is currently in the middle of a digital revolution where digital platforms have become an important part of industrial engineering, management solutions and economic values. There is huge potential for digital platforms to contribute to various manufacturing processes such as physical product development. In this study we will be discussing the various stakeholders collaborating in the new product development process, their challenges and how digital platforms can ease those challenges. The aim of the study is to identify the challenges faced by the various stakeholders collaborating and engaging in various product development processes from product idea to mass production, and then suggest possible digital solutions to deal with those challenges. The theory used to discuss the results is the collaboration theory, “Five stage model of collaboration”. The study followed a qualitative study approach using semi-structured interview to gather data and thematic analysis for data analysis. Four stakeholders were identified, namely, idea owners, incubators, manufacturers, and financers. At least one participant from each category was interviewed and the data collected was coded into first order concepts, second order concepts and finally into themes. The challenges that were identified from data analysis were interaction problems, engagement challenges, time and work effectiveness problems, proficiency challenge, agreement challenges and endorsement problems and the theme communication was the major and most common challenge identified amongst the stakeholders. The digital solutions AI auto match technology, multi-flow communication channel, safe and encrypted file sharing and tracing of activities, planning, and monitoring progress, learning and equipment with a detailed product development guide, and collaboration on multiple projects through a digital platform have been suggested to overcome these challenges. The importance of stakeholder engagement on digital platforms and the role of digital platforms to provide an engaging and user-friendly experience have been discussed as well. We believe that digital platforms through digital solutions may encourage innovation and sustainable development in the future.