The third annual Valeo Innovation Challenge draws 3,302 student applicants from around the world
Mumbai, February 10, 2016– Enthusiasm for the Valeo Innovation Challenge is stronger than ever in the contest's third year. A total of 3,302 students from around the world have signed up to participate.
In all, 1,344 teams from 65 countries and 785 universities have submitted their application in one of the two available categories, with 60% of the teams competing in the "technological innovation" category and 40% of the teams in the "idea for new ways of using cars" category. The goal in each category is to win a grand prize of €100,000.
The participation and enthusiasm of students from Indian universities has grown leaps and bounds this year with about 496 teams from 274 universities participating. M Kumarasamy College of Engineering, Anna University-Chennai, Sastra University are some of the colleges/universities that will be competing from India for one of the most exciting challenge to invent the car of tomorrow.
The 24 short-listed teams will be announced on March 18, 2016, after which Valeo will grant them each €5,000 to develop their idea by building a functional prototype, application or other solution.
Two categories designed to stimulate student creativity
The contest's continued success – with a record number of participants signed up this year – attests to the relevance of the challenge put to the students: "come up with an innovation or idea that will make cars more intelligent, intuitive, green and fun by 2030."
The "idea for new ways of using cars" category, created for the first time this year, has drawn 1,323 students from a variety of disciplines, including sociology, business, urban planning and design, indicating that a broad, diverse segment of society views the auto industry as dynamic and appealing.At the same time, there are 1,979 students competing in the "technological innovation" category.
70 Valeo experts across the globe will select the semi-finalists
Starting today, 70 Valeo experts spread across the Group's R&D centers worldwide – as well as a number of independent scientists – will examine each of the projects in order to select 24 teams that will advance to the next round.
The Valeo Innovation Challenge program
Students worldwide can learn more and register for the contest via three dedicated sites:
* A website provides contest-related information:https://valeoinnovationchallenge.valeo.com/
* A Facebook page keeps you updated on the latest Valeo and contest news: https://www.facebook.com/Valeo.Group
* A Twitter page keeps you posted on related information:https://twitter.com/Valeo_Group
Timetable
March 18, 2016 | 24 semi-finalist teams announced |
March 18, 2016 – July 23, 2016 | Teams given €5,000 to develop their project |
September 23, 2016 | Eight finalist teams announced |
October 2016 | Projects presented to the panel and winners announced |
With the Valeo Innovation Challenge, Valeo is demonstrating once again that innovation and R&D are the Group's top priorities. Day in, day out, its teams are guided by a constant commitment to innovation as they work to invent the car of tomorrow.
Valeo invests 10% of its original equipment sales on R&D. Most of Valeo's research and development programs are focused on the design of technologies that reduce motor vehicle CO2 emissions and promote intuitive driving. Ranking among the leading patent filers in France, Valeo has close to 11,000 researchers in 50 research and development centers around the world. Valeo has developed a wide array of innovative products and technologies that represented 35% of its order intake in 2014.
Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2014, the Group generated sales of €12.7 billion and invested over 10% of its original equipment sales in research and development. Valeo has 135 plants, 16 research centers, 35 development centers and 15 distribution platforms, and employs 82,700 people in 30 countries worldwide.Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index. For more information about the Valeo Group and its activities, please visit the website, www.valeo.com
