Paris, April 3, 2018 – International participation in the Valeo Innovation Challenge has never been higher. Now in its fifth year, the Valeo Innovation Challenge has drawn no fewer than 3,575 student candidates representing a total of 1,470 teams from 107 different countries (a 27% increase on last year) and 676 universities.
The contest is taking a fresh approach in 2018, for the first time giving students worldwide the opportunity to create a start-up to develop their innovative idea.
Starting today, and until June 14, a total of 70 Valeo R&D experts worldwide and a group of independent scientists will examine each of the projects in order to select nine finalist teams. The short-listed teams will then have until September 30, 2018 to develop their start-up project addressing one of the three automotive industry revolutions: powertrain electrification, the autonomous vehicle, and digital mobility. They will receive remote support and advice from a start-up accelerator that will help them to complete their project before the finals, which will be held in Paris on October 11, 2018. The nine finalist teams will have five minutes to win over the jury with a presentation including a video, a prototype, an experiment, or other supporting material.
The jury, made up of business and technology leaders as well as Valeo executives, will select three winning teams to split a prize of 200,000 euros (with one grand prize winner and two runners-up) to help them develop their business. The three young start-ups, in which Valeo will hold a 5% stake, will also benefit from the hands-on support of Valeo experts.
For more information: https://valeoinnovationchallenge.valeo.com/