Texas Instruments Incorporated (TI) is hosting the 7th edition of its India Innovation Challenge on 8th September 2016 in Bangalore, in association with Indian Institute of Management Bangalore (IIM-B) and the Department of Science and Technology (DST).
This contest aims to propel the government’s ‘Make in India’ initiative through student start-ups and contribute to the country’s manufacturing ecosystem. The last six editions of the contest have witnessed innovative and out-of-the-box thinking from participants to create cutting-edge solutions to real-world problems.
The challenge, which lasts for ten months, will include the top teams who will be able to get their startups incubated at IIM-B’s reputed incubation center, the Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL).
This platform also provides engineering students from colleges and universities across the country to display their ideas and concepts that have the potential to solve pressing problems across various sectors and can help bring positive change to the lives of millions of people.
The contest follows TI’s efforts toward industry-oriented and hands-on engineering education to foster innovation in students. Annually, TI trains a large number of engineering students on state-of-the-art technologies through labs, workshops and integration of TI technology into engineering coursework and curriculum.
At Texas Instruments India, we believe in fostering student innovations through our university programs. These programs strive toward inculcating experiential learning amongst engineering students and help strengthen the education community as a whole. TI has seen great talent in the past six years through our design contests.
said Sanjay Srivastava, Director – University Program, Texas Instruments India.
TI will provide the selected startups with technical resources and guidance throughout the challenge, including tool support and mentoring to design, make prototypes and to create the final product.
DST, on the other hand, will provide funding of Rs. 3.5 crore(about $500k) to the student start-ups, which will go toward the product development fund of Rs. 1.5 crore and seed fund of Rs. 2 crore for the top teams to incubate their start-ups. The government initiative ‘MyGov’ will provided the challenge a platform, through which it can reach out to a large number of citizens.
Commenting on the same, Professor Suresh Bhagavatula, Chairperson, Entrepreneurial Ecosystem Development, at IIM Bangalore, said,
IIMB sees an exciting opportunity through this collaboration with TI on the Innovation Challenge by coming across unique entrepreneurial ideas from the best talents of the country and helping them incubate the ideas and transform them into successful enterprises.