Altair, has launched Altair Startup Challenge 2022, in collaboration with Startup India, a government of India initiative to build a strong and inclusive ecosystem for innovation and entrepreneurship in the country. The Altair Startup Challenge received support from IIT-M Incubation Cell, CII, and ARAI.
This follows the successful competition in 2021, with eight finalists chosen from a pool of 156 participating companies, the initiative gives organisations access to high-end technology, mentorship, and expert support and guidance for their innovative products.
Under the programme Altair aims to identify, support, mentor, and reward budding start-ups with its simulation, optimisation, and machine learning technologies combined with its dedicated team of mentors with extensive experience and knowledge. The award categories were simulation-driven product design and development, digital twin, and embedded systems.
The challenge required start-ups to identify Altair technologies that would drive the design and engineering of their companies’ products – which would improve product performance, reduce product development time, and minimise cost. From a pool of more than 156 applications, eight companies were shortlisted, which were rewarded with mentorship and free access to Altair technologies for 4-months. The winners were judged based on how they applied Altair technologies and how well they enhanced their product designs and their potential business impact. For the 2021 innovation challenge the eight finalists were – Raptee, Rvemp Moto, Reevia Motors, Emote Electric, Ingo Electric, Innovmon Technologies, Creatara Mobility, and Yali Mobility.
First place – Ingo Electric from Bangalore won Rs 250,000 for successfully demonstrating the frugal product development process through virtual simulations by solving vehicle structural and dynamic problems.
Second place – Yali Mobility from Chennai won Rs 150,000 for utilising simulation-driven design technology to solve vehicle structural and suspension design problems and improve product performance.
Third place – Creatara Mobility from Delhi won Rs 100,000 for optimising structural components and major systems through the early product design and development phase.
Vishwanath Rao, MD, Altair India and GCC said, “The startup ecosystem in India is buzzing with new ideas. Disruptive technologies like AI, machine learning, and additive manufacturing are rapidly transforming the way companies innovate. Altair’s motive behind collaborating with startups is to enable them to accelerate innovation with our simulation and machine learning technologies. We believe these startups will not only build an intellectual property-based economy for the country but also create an ecosystem of new industries to catalyze the vision of Make in India.”
Panduranga Rao, SVP, Technical Operations and strategic initiatives, Altair India said, “While working with and seeing young and brilliant startups apply Altair technologies to solve real problems, we believe that the IP created will positively disrupt and challenge the status quo of the industry. We look forward to Altair Startup Challenge 2022 to meet the next set of inquisitive minds with fresh challenges.”
Sana Dewan, assistant manager, Startup India said, “India has the world's third largest startup ecosystem and we are proud to collaborate with Altair as together we help Indian EV startups accelerate, innovate, and accomplish their goals of product development in a structured manner.”