Altaira computational science and artificial intelligence (AI) firm, announcement the launch of the Altair Startup Challenge 2022, continuing Altair’s collaboration with Startup India, an Indian government initiative to create a strong and inclusive ecosystem for innovation and entrepreneurship in India. After a successful competition in 2021, with eight finalists chosen from a pool of 156 participating companies, the Startup Challenge gives organizations access to top-of-the-line technology, mentorship, support and expert advice in their pursuit of products. innovative.
Altair seeks to identify, support, mentor and reward budding startups through its simulation, optimization and machine learning technologies combined with its dedicated team of mentors with extensive experience and knowledge. The price categories were the simulationproduct design and development, digital twin and embedded systems.
The Altair Startup Challenge asked startups to identify Altair technologies that would drive their company’s product design and engineering, which would improve product performance, reduce product development time and minimize costs. Eight companies were pre-selected from a pool of more than 156 applicants; As a reward, Altair offered these startups mentorship and free access to Altair technologies for four months. Winners were judged on how they applied Altair technologies and how they improved their product designs and potential business impact. The eight 2021 finalists – Raptee, Rvemp Moto, Reevia Motors, Emote Electric, Ingo Electric, Innovmon Technologies, Creatara Mobility and Yali Mobility – were rewarded with a certificate of successful participation at a ceremony held at a city hotel.
· First Place – Ingo Electric of Bengaluru won INR 2,50,000 for successfully demonstrating the process of developing frugal products through virtual simulations by solving structural and dynamic problems of vehicles.
· Second Place – Yali Mobility from Chennai won INR 1,50,000 for using simulation-based design technology to solve vehicle structure and suspension design issues and improve product performance.
· Third Place – Delhi’s Creatara Mobility won INR 1,00,000 for optimizing structural components and major systems throughout the product design and development phase.
“The startup ecosystem in India is full of new ideas. Disruptive technologies like AI, machine learning and additive manufacturing are rapidly transforming the way businesses innovate. Altair’s motive behind collaborating with startups is to enable them to accelerate innovation with our simulation and machine learning technologies. We are confident that these startups will not only build an IP-based economy for the country, but also create an ecosystem of new industries to catalyze the vision of Make in India.said Vishwanath Rao, Managing Director, Altair India and GCC.
“A mentor’s joy and reward is seeing their mentees succeed and we are proud to support the Government of India’s mission to build a vibrant startup ecosystem in India,” said Panduranga Rao, Senior Vice President, Technical Operations and Strategic Initiatives, Altair India. .
“While working with and seeing brilliant young startups apply Altair technologies to solve real problems, we believe the intellectual property created will positively disrupt and challenge the industry status quo. We look forward to the Altair Startup Challenge 2022 to meet the next set of curious minds with new challenges,” adds Rao.
“Startup India and Altair allow entrepreneurs to pitch their ideas while networking with key stakeholders. India has the third largest startup ecosystem in the world and we are proud to partner with Altair because together we are helping Indian EV startups are accelerating, innovating and achieving their product development goals in a structured way,” mentioned Sana Dewan, Deputy Director, Startup India.