Start-up India And Altair Announce Start-up Challenge 2022

Altair is a global technology company that endows with software and cloud solutions in the areas of product development, High Performance Computing, and data analytics. This computational science and artificial intelligence (AI) has declared the launch of Altair Start-up Challenge 2022 with the aim to build a strong and inclusive ecosystem for innovation and entrepreneurship in India.

In 2021 it created a space for itself in the top eight finalists out of 156 participating companies, the Start-up Challenge. Other than giving organizations access to high-end technology it also works as mentor, expert support and guide in companies’ search for innovative products. It has a dedicated team of mentors with extensive experience and knowledge.

The award categories are simulation-driven product design and development, digital twin, and embedded systems.

The Altair Start-up Challenge wanted start-ups to identify Altair technologies that could drive the design and engineering of their companies’ products that would progress product performance, shrink product development time, and lessen the cost.

Eight companies that were shortlisted from a pool, as a reward Altair gave them mentorship and free access to Altair technologies for four months. These Frontrunner companies were Raptee, Rvemp Moto, Reevia Motors, Emote Electric, Ingo Electric, Innovmon Technologies, Creatara Mobility, and Yali Mobility. They were judged based on how they applied Altair technologies and how well they enhanced their product designs and their potential business impact.

The winners were:

First place - Ingo Electric from Bengaluru won INR 2, 50,000 for successfully representing the prudent product development process through virtual simulations by solving vehicle structural and dynamic problems.

Second place - Yali Mobility from Chennai won INR 1, 50,000 for utilizing simulation-driven design technology to resolve vehicle structural and suspension design problems and improve product performance.

Third place - Creatara Mobility from Delhi won INR 1, 00,000 for optimizing structural components and major systems through the early product design and development phase.

Vishwanath Rao, Managing Director, Altair India and Gulf Cooperation Council (GCC) said that the start-up ecosystem in India is lively with new ideas. Disruptive technologies like AI, machine learning, and additive manufacturing are rapidly transforming the way companies innovate. Altair’s reason behind working together with start-ups is to facilitate them to speed up innovation with their simulation and machine learning technologies. He believes that these start-ups will not only build an intellectual property-based economy for the country but also create an ecosystem of new industries to catalyse the vision of Make in India.

Panduranga Rao, Senior Vice President, Technical Operations and Strategic Initiatives, Altair India shared his views that the joy and reward of a mentor is looking mentees succeed and they are proud to support the Government of India’s mission to create a humming start-up ecosystem .

Further Panduranga Rao said that he believes that the IP created will positively disrupt and challenge the status quo of the industry. He looks forward to Altair Start-up Challenge 2022 to meet the next set of inquisitive minds with fresh challenges.

Assistant Manager, Startup India Sana Dewan said that start-up India and Altair together enable entrepreneurs to showcase their ideas while building a network with key stakeholders. India has the world’s third largest start-up ecosystem. Together they can help Indian EV start-ups accelerate, innovate, and accomplish their goals of product development in a structured manner.

It is a golden opportunity for small businesses especially which are almost dying or at the verge of closure. India is now becoming a technically sound country and people look for fastest services. These companies can use Altair to fasten up and save themselves from untimely closure or losses.

Small businesses are the spinal cord of India and huge contributors in the GDP but many of them are not able to grow. There are many reasons behind, like lack of knowledge, lack of technical know-how, proper training is required. In that case they can approach to Altair. They provide free training and guidance for sometimes or charge very nominal. They have experts to mentor the entrepreneurs to make a place for them. This is how it will help small businesses to expand successfully.