8 reasons why IoT & product/hardware startups should apply to the Qualcomm Design in India Challenge 2018
The Qualcomm Design in India Challenge, a one-of-a-kind program that discovers and nurtures the best and the most innovative product and hardware startups in the country, is back for its third edition.
For IoT and product/hardware startups keeping the flag of the Make in India campaign flying, this is a golden opportunity. The Design in India Challenge is the program to apply for if you have a unique, game-changing idea that needs to be taken to the next level. This year, the program focuses on the following sectors:
- Smart infrastructure
- Biometric devices
- Payment terminals
- Agricultural technology
- Medical technology
- Rural loT
If you still need convincing, here are eight reasons why the Design in India Challenge 2018 is a great opportunity for innovative product companies.
- Bigger than ever: The first year saw 10 startups being selected and incubated; that climbed to 14 in 2017, across two cycles. This time around, 15 startups will be selected for an extensive 9-month incubation program at no charge, and up to $10,000 in cash.
- Prize money of up to $375,000: Each of the 15 startups will win $10,000 upon being selected. At the end of the program, one winner and two runners-up with the most promising products will be selected and awarded up to $100,000, $75,000 and $50,000, respectively. This is a cash prize with no equity dilution at stake.
- Access to state-of-the-art labs: The 15 selected startups will get a chance to work in Qualcomm’s Innovation Labs in Bengaluru and Hyderbad, to help refine and test their products before the final selection. And waiting for them is the cutting-edge technology that can be used during the incubation period.
- Engineering assistance and expertise: In addition to access to the Innovation Labs, the chosen startups will also receive engineering expertise and assistance from within Qualcomm’s R&D teams to help them further refine their product.
- Access to Accelerator Program Services:As part of the 2018 cohort, the selected companies will receive guidance and mentorship from Anthill Ventures in business areas via a series of workshops and in-person mentorship sessions. This will span areas such as operations, customer acquisition, go-to-market, financial management, hiring, and fund-raising, with a special focus on scaling. In addition, the program provides one-to-one mentoring sessions for each of the scaling parameters.
- Patent Filing Incentive:Qualcomm will also reimburse each startup an amount of $2,500 each for two full patent applications filed with either the US PTO or India PTO during the incubation phase of the program.
- Connect with the relevant government agencies: Selected startups will also have the opportunity to connect with senior officials in the Ministry of Electronics and Information Technology (MeitY) in person at specially arranged meetings.
- Startup showcase at CES & other events: Selected startups will be showcased at the Qualcomm booth at events including but limited to the world-renowned CES 2019 in Las Vegas, the 2018 5G Summit in Hong Kong and other marquee startup events in India.
How it works
Once applications are verified, shortlisted companies will be invited to present to an expert jury comprising senior engineers and management from Qualcomm, as well as industry experts. Based on the jury presentations, up to 15 companies will be selected for the 9-month incubation program. At the end of the program, these companies will present before the final jury and three winners will be selected.
So, why wait? It’s time to bring out your best products and create a viable, scalable and profitable business with just a little help from Qualcomm.
If you still have questions, check out the FAQs here.
Last date: April 22, 2018.
[Also read about the six startups shortlisted for Cycle II: From smartifying the idiot box to ensuring quality eye care, these 6 Indian startups are using IoT to improve lives]