In a boost to the technology startup ecosystem, NXP Semiconductors has launched NXP India Tech Startup Challenge 2021 in collaboration with Government's Invest India and Startup India initiative. Three tech startups will be selected and they will receive prize money of up to Rs 6,00,000.
The challenge began accepting participants on February 11 and the last date to apply is March 18. The winners will be announced on April 15.
"This event is for the purpose of connecting, collaborating, and nurturing Indian technology startups. This event will drive global visibility and network scalability for tech startups," NXP Semiconductors said.
Here is everything you need to know about the NXP India Tech Startup Challenge 2021:
> Startups incorporated in India as a Private Limited Company with 51 percent of the company owned by Indian citizens (At least one company founder or executive is a legal resident of India, and at least 18 years of age at the time of entry into the Competition).
> Technology Startups focusing on IP, processors development, semiconductor fabless ASIC design, and embedded product development can participate in the challenge.
Analytics; AR VR (Augmented + Virtual Reality); Automotive; Computer Vision; Telecommunication & Networking; Aeronautics Aerospace & Defence; AI; Green Technology; Enterprise Software; Design; Renewable Energy; Technology Hardware; Healthcare & Lifesciences; Internet Of Things; Nanotechnology; Non- Renewable Energy; Social Impact; Security Solutions; Safety; Robotics; Biotechnology; Others; Toys And Games.
Themes for the challenge
Automotive; Industrial & IoT; Mobile; Communication Infrastructure and
Other Related Sectors (e.g. Smart City, Smart Home, etc.).
When and how to enter the competition
Entries will be accepted until March 18, via the application portal on the Startup India website.
Each participant must complete and submit a competition application that complies with the terms and conditions. Requirements and submission form can be found on the Startup India portal.
Incentives for the winners of the startup challenge
Selected 3 tech Startups will be provided with Rs 6 lakh distributed among winners (including all applicable & withholding taxes). They will also receive a mentorship opportunity (3 interactive sessions with a mentor each month for 3 months) from NXP India Technical Leadership Experts.
Additionally, selected top 10 tech startups (in embedded system and product design space), will be invited as an entrant for up to 3-month Equity-free Pre-Incubation at Electropreneur Park (ESDM Incubator).
Selected top 10 tech startups (in semiconductor and IP design space), will be invited as an entrant for up to 4-month Equity-free Cohort period together with SFAL - Semiconductor Fabless Acceleration Lab (Semiconductor & IP Design Incubator).