NXP India, one of the largest R&D facilities of NXP Semiconductors, has announced the opening of Part III of the NXP India Technology Startup Challenge 2023. It is the platform for upcoming startups. This challenge aims to support and mentor startups developing embedded products for automotive, industrial and internet of things, mobility and communications infrastructures. Applications open from February 6, 2023.
The event was organized in collaboration with Startup India Hub, a platform to connect the Indian startup ecosystem run by the Ministry of Commerce and Industry, will host all the applications.
Challenges
Extreme Technology Challenge will invite the top 3 starting a business as finalists at XTC’s bootcamp event, where they will be judged by a panel of investors, thus giving them global exposure.
In addition to the monetary benefits, the Top 10 Tech Startups will also receive zero-equity pre-incubation funds from incubator partners Electropreneur Park (ESDM Incubator) and Expert Labs Fabless Semiconductor Accelerator (SFAL), as well as lab-tested equipment to turn ideas into prototypes compliments with mentoring sessions for business, technology, and scaling opportunities.
Top 3 winners of season 2 receive awards money of Rs. 3,33 lakh, the opportunity to mentor with NXP India’s Technical Leadership Expert panel and the opportunity to participate as finalists in the Extreme Technology Challenge (XTC).
Explaining the content of the exercise, Hitesh Garg, Country Director for India, NXP Semiconductors said: “The Tech Startup Challenge is a platform that gives tech entrepreneurs the opportunity to showcase their talent. them in their field. Our goal is to make India a global leader in the development of eco-friendly technology companies.”
Benefits for the Top 3 selected startups include:
The total bonus is INR 10 Lacs along with the opportunity to mentor (3 mentoring sessions per month for 3 months) from NXP India Technical Leadership Experts
Invitation to finalists in Extreme Tech Challenge (XTC) and XTC bootcamp events. XTC will also feature finalists judged by an elite group of investors for global exposure.
Benefits for Top 10 selected startups include:
They will have the opportunity to share their business value proposition with NXP and industry partners along with networking
Invitation as a subscriber to a no-equity pre-incubation for up to 3 months at Electropreneur Park (ESDM Incubator), free access to state-of-the-art ESDM Lab test equipment to converting ideas into prototypes, mentoring sessions for business plan screening, technical mentoring, connections with ESDM vendors and reimbursement up to Rs. 50,000 for prototyping cost.
Invitation as a participant in a no-equity cohort for up to 4 months alongside SFAL – Semiconductor Non-Necessary Accelerator Lab will include access to the asset In-kind Partner (IKP) (up to INR 10L per start-up): FPGA Lab@SFAL innovation, Peer Partner tools, access to webinars and tutorials business leads as well as potential investments from SFAL and IKP partners.
OUTSTANDING
The top 3 finalists will be offered a total prize pool of INR 10 Lacs along with a chance to mentor with NXP India.
In addition to Startup India Hub, a platform of the Ministry of Trade and Industry, global partner: Extreme Tech Challenge (XTC) and Incubator partners: Electropreneur Park and Semiconductor Fabless Acceleration Lab (SFAL) will support the program.
Finalists will be invited to the Extreme Tech Challenge (XTC) and XTC bootcamp event.
