Texas Instruments Incorporated (TI), along with Indian Institute of Management Bangalore (IIMB) and the Department of Science and Technology (DST), announced the registration for the Texas Instruments 2016 “India Innovation Challenge” going live on the portal, https://mygov.in.
The Challenge is open to engineering students across all recognized institutes in India. The contest provides them a platform to display their ideas and concepts with the potential to solve pressing problems across various sectors. Registrations will close on September 30, an IIMB release said.
It aims to propel the government’s ‘Make in India’ initiative through student start-ups and contribute to the country’s manufacturing ecosystem.
IIMB will provide incubation facilities to the contestants’ startups at the Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL) during the 10-month long Challenge.
Texas Instruments has been organizing Innovation Challenge since 2009. 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.
IIMB will provide incubation facilities to the contestants’ startups at the Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL) during the 10-month long Challenge.
TI will provide technical resources and guidance throughout the challenge, including tool support and mentoring to design, make prototypes and to create the final product.
DST will provide funding of Rs 3.5 crore to the student start-ups, which will go toward the product development fund of Rs 1.5 crore and seed fund of INR 2 crore for the top teams to incubate their start-ups.
The Challenge will be provided a platform through MyGov, which can reach out to a large number of people.
“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, Sanjay Srivastava, Director – University Program, Texas Instruments, said.
Gaurav Dwivedi, CEO, MyGov, said, “MyGov will help connecting with the best minds from the engineering colleges across India to present their start-up ideas and help them make their dreams to reality by nurturing the best idea that has the potential to bring a change in the lives of millions.”
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.”
