In a bid to build a strong and inclusive ecosystem for innovation and entrepreneurship in India, Altair, in collaboration with Startup India, has announced the launch of Altair Startup Challenge 2022 and Winners of Altair Startup Challenge 2021.
The objective of the Challenge, which received support from IIT-M Incubation Cell, CII, and ARAI, is to identify, support, mentor, and reward budding startups 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.
In its 2021 form, the challenge attracted 156 participants, out of which eight finalists were chosen and three winners.
Ingo Electric from Bengaluru came first, winning INR 2,50,000 for successfully demonstrating the frugal product development process through virtual simulations by solving vehicle structural and dynamic problems.
Second place was awarded to Yali Mobility from Chennai, which won INR 1,50,000 for utilising simulation-driven design technology to solve vehicle structural and suspension design problems and improve product performance.
And the third place went to Creatara Mobility from Delhi, which won INR 1,00,000 for optimising structural components and major systems through the early product design and development phase.
Vishwanath Rao, Managing Director, Altair India and GCC, noted that the startup ecosystem in India is buzzing with new ideas. In addition, disruptive technologies like AI, Machine Learning, and additive manufacturing rapidly transform the way companies innovate.
“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 catalyse the vision of Make in India,” he added.
Sana Dewan, Assistant Manager, Startup India, said India has the world’s third-largest startup ecosystem. Startup India and Altair enable entrepreneurs to showcase their ideas while building a network with key stakeholders.