Sponsoring Agency: Startup India
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 04/10/2021
Size of the Fund: Less than USD $50,000
Applications are now open for the Altair Start-up Challenge 2021 with an aim to provide a platform through a structured challenge for Indian EV Start-ups to accelerate and innovate with simulation-driven design and accelerated product development process, Altair solutions, Technology, Altair Mentorship, Reward & Connect with industry ecosystem to Excel.
This is done via Altair Startup Challenge – An initiative of this nature will create awareness of appropriate cutting edge technologies, relevant processes, enable the startups to accomplish their goals of product development in a structured manner. This facilitates competency building and the development of competitive products.
Altair has successfully collaborated with Start-up India and reached out to 300 start-ups, shortlisted and mentored over 40 start-ups in 2019 and 2020. Over a period of six months, Altair invested close to 1500 hrs in 2019 and 2000 hrs in 2020 in training, mentoring and reviewing shortlisted startups. Finally, winners were awarded cash prizes and given software of considerable value free of cost.
Themes
• Simulation Driven Design – Accelerating Product Development
• Model Based Embedded Development
• Digital Transformation Leveraging IoT, AI & ML
Problem Statement
EV Startups offering: Electric mobility solutions such as Products / Service / solutions / Systems / Motors / Battery pack / controller / Charging Infrastructure, Digital Platform … etc. (No Traders)
Incentives
After successful mentoring, shortlisted start-ups will be well informed about appropriate technology options and solutions for accelerated product development. The teams will be exposed to relevant Altair tools and technologies. They will also get an opportunity to interact with the Altair Ecosystem of partners, customers. This will help them to reach out to the market more efficiently.
Prize (3 Winners):
• 1st : 2.5 Lakh
• 2nd : 1.5 Lakh
• 3rd : 1 Lakh
Eligibility Criteria
EV Start-up Company Recognised by Startup India, Registered MSME or From Govt recognized Incubator (Major IIT and NIT’s, DST…etc), a registered entity involved in Design & Development, Machine Learning & Data Analytics Solutions, Digital Twin and its validation of products, solutions, components, and systems.
Procedure Post Submission
End State/Output/Incentives (what will the shortlisted applicants receive):
• Understand their challenges and provide a process for exploring the options.
• Introduce simulation-driven design early in the product development cycle
• Enable them to accelerate product development
• Mentor and handhold the startups to address key design and development challenges
• Connect to Potential prospects, Funding Agencies
• Advise them on IP Protection and Positioning of the product.
• Obtain relevant case studies
More information at: https://www.startupindia.gov.in/content/sih/en/ams-application/challenge.html?applicationId=603600b2e4b0ea330a5ce970
