Deadline: January 21, 2017 | Register here
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Eligibility: The contest is open to team of students worldwide who have completed their high school education
Prizes: the first prize is EUR 100,000,- the second prize is EUR 10,000,-
Location: Paris, France
Valeo Innovation Challenge 2017
The aim of Valeo Innovation Challenge is to reward an innovative automobile-related project (technological innovation or idea for a new way to use cars) that is the product of the imagination of students worldwide.
Valeo launched the 4th edition of its contest, the Valeo Innovation Challenge 2017, which offers students from around the world and their academic teachers the opportunity to become players in automotive innovation.
They are required to come up with an innovation which would, between now and 2030, make the car and the way it is used more intelligent, clean, intuitive, green and fun.
Develop bold solutions for the society of tomorrow
Through this contest, Valeo is showing that innovation lies at the core of its DNA and that Research and Development is a priority for the Group. It is the guiding force behind the 11,000 engineers who innovate each day while inventing the car of tomorrow.
The Group is seeking to raise student awareness of the challenges that careers in the automotive industry can offer them.
The selection criteria for the project are:
- Bold, innovative and original idea of the project (“Best Innovation” category / “Best Idea for a new way to use cars” category)
- Challenges and relevance of the problem dealt with and factoring in of society’s expectations
- Knowledge of technical / related matters
- Feasibility and construction of proof of concept
- Quality of presentation
Prizes
The 24 teams selected on completion of phase 1 will each be provided with an amount of EUR 5,000,- for the purpose of putting their idea into practice and creating a functioning proof of concept (physical software, app, business model, websites, etc.).
The first prize of EUR 100,000,- will be awarded on completion of the contest in each of the following categories:
- The innovation prize for the best technological innovation
- The best idea prize for a new way to use cars.
The second prize for each in these two categories is EUR 10,000,-.
For the first time since the creation of the Challenge, Valeo will be offering the winning team (in the Technological Innovation category), the opportunity to join a business accelerator (HAX), a Valeo partner, in the aim of setting up a company.
The team will be given personalized support with the project for which it was selected, in a working environment dedicated to and in contact with other start-ups.
Accordingly, the team members will finalize their prototype, learn to value their business and develop their strategy with the help of a network of mentors.
They will be given valuable information on how to manage a company in terms of manufacturing, supply chain management and distribution.
Finally, they will be given coaching on how to present their new company in preparation for future meetings with investors and the press. Valeo will cover all costs relating to the business accelerator.
In exchange, the accelerator and Valeo will each take a 9% stake in the new start-up.
The prizes will be awarded in mid-October 2017 in Paris, France.
The organizer will cover the cost of traveling to Paris, France by the members of the eight finalist teams, including return tickets and accommodation, excluding meals, beverages, personal expenses, excursions, visits other than those planned by the organizer.
Eligibility and entry requirements
- Valeo Innovation Challenge is open to students worldwide who have completed their high school education and their academic teachers (maximum of one teacher per team), with one entry per person.
- Entrants must compete in teams made up of between two and a maximum of five people (and may include an academic teacher).
- Contest entrants must be able to travel outside their country of residence and possess, by October 2017, a passport that is still valid for six months after the date scheduled for the prize giving (October 2017).
- Each team leader must plan to collate all of the original banking information and documents that will be required prior to payment of the financial support in phase 2.
Selection of projects
The organizer, assisted by Valeo’s Marketing and R&D Experts networks along with independent external experts, will select the 24 best projects received.
Valeo will announce which projects have been selected to all of the candidates. A list of the 24 selected teams will be published on March 17, 2017.
Project requirement
The projects submitted must meet the following criteria and technical constraints:
Phase 1: Presentation of the project (min. 5 pages) with illustrations authorized (photos, diagrams)
Criteria took into account:
- Bold, innovative and original idea of the project (50%)
- Challenges and relevance of the problem dealt with and factoring in of society’s expectations (20%)
- Knowledge of technical / related matters (10%)
- Feasibility of proof of concept (10%)
- The quality of presentation (10%)
Phase 2: Creation of a proof of concept and/or any other communication media to render the technological innovation or the idea (a new way to use cars) concrete, along with a 20-page written document
The following formats are accepted:
- files (.pdf)
- videos
- websites
- applications
- physical software
- font: Arial
- font size: 10
Criteria took into account:
- Bold, innovative and original idea of the project (50%)
- Challenges and relevance of the problem dealt with and factoring in of society’s expectations (10%)
- Knowledge of technical / related matters (10%)
- Creation of proof of concept (20%)
- The quality of presentation (10%)
- The organizer shall define the specifications of the file to be submitted for the launch of phase 2 in accordance with a format which will be disclosed to the 24 selected teams on March 17, 2017.
Phase 3: Presentation of the project to the members of the jury
- At least two team members must be present when the project is presented.
- When a teacher forms part of a team, the project must be presented by the students and not the teacher.
- The proof of concept shall remain the property of the team.
- The various members of the team may share the oral presentation which should last 20 minutes, including a five-minute Q&A session.
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