Qualcomm to mentor 12 Indian tech startups for global innovation
Bengaluru: Chip-maker Qualcomm on Monday announced 12 finalists of its ‘Design in India Challenge 2021’ and each finalist will receive Rs 3.2 lakh along with a host of other benefits.
The startups will receive mentorship and access to Qualcomm Innovation Labs, incentives for patent-filing, and business development opportunities with the help of Qualcomm’s global sales and business teams.
In March 2022, a jury pitching session will select one winner and first and second runners-up that will receive Rs 65 lakh, Rs 50 lakh and Rs 35 lakh, respectively.
“The Qualcomm Design in India Challenge is aimed at encouraging startups to come forward with ideas that can put India on the global innovation map, and in the process, also learn to protect their own innovations through patenting,” said Sudeepto Roy, Vice President, Engineering, Qualcomm Incorporated.
The sixth edition of ‘Qualcomm Design in India Challenge’ was organised in collaboration with NASSCOM, Startup India and AGNIi and received close to 160 applications across industries.
The finalists come from diverse areas such as smart robotics, smart infrastructure, manufacturing, agritech space tech and medical technology.
“Indian startups have the capacity to come up with innovations that can provide solutions not only for India but also the world. We see great promise in India’s startup ecosystem and will continue to nurture it through our programmes,” said Rajen Vagadia, Vice President, Qualcomm India and President, Qualcomm India and SAARC.
Each startup will receive reimbursement for an amount of Rs 1.6 lakh for a full utility patent application.
The 12 shortlisted startups will get an initial grant of Rs 1.6 lakh at the start of the incubation period.
After a mid-cycle review, about five months into the incubation, the startups that meet the review requirements will be eligible for an additional grant of Rs 1.6 lakh.
If selected, they will be given a combined total of 30 seat-months at a NASSCOM Center of Excellence � IoT & AI at no cost, the company said.
Accelerator services will be available to all startups, at no additional cost, through a third-party vendor.