TI launches India Innovation Challenge 2016

BANGALORE, INDIA: Texas Instruments(TI) along with Indian Institute of Management Bangalore (IIMB) and Department of Science and Technology (DST) is launching the India Innovation Challenge 2016 to encourage innovation and entrepreneurship among engineering students.

Top teams in the innovation challenge will get a chance to incubate their startups at IIMB’s incubation center.

TI will provide technical resources and guidance throughout the challenge, including tool support and mentoring to design, make prototypes, and to create the final product.

The DST will provide funding of Rs 3.5 crore to the student startups, which will go toward the product development fund of Rs 1.5 crore and seed fund of Rs 2 crore for the top teams to incubate their start-ups.

TI has been successfully conducting engineering and design challenge contests for the past six years. Last year, the challenge attracted more than 11,000 engineering students in India from more than 650 colleges around the country. This year, the India Innovation Challenge has expanded its canvas to create an ecosystem that encompasses government, academia, and industry.

“At Texas Instruments India, we believe that industry-oriented engineering education fosters innovation for economic growth. TI India, IIMB and DST coming together this year is a huge step in that direction, which will lead Indian engineering students from idea to invention to industry and help them become successful entrepreneurs of tomorrow,” said Santhosh Kumar, President and MD, Texas Instruments India.