IAMAI Startup Foundation announces grant up to $100,000 for the most innovative EV solution

IAMAI Startup Foundation's Challengathon is inviting applications from startups to provide the best and most innovative EV-related solution. Entries can be sent in till January 25, 2020, and the winner will be supported with a grant of up to $100,000.

At the brink of the extremities of global warming, international forest fires, and rising temperatures, India also has its fair share in the category. While cities like Bengaluru and Mumbai have traffic woes, Chennai has water problems and Delhi has always been notorious for poor air quality and smog.

With environmental problems galore, the country is actively exploring the possibilities of cost-effective and viable solutions to improve the air quality, reduce noise pollution and secure energy resources. The Government of India has also initiated steps to address the issue of national energy security, vehicular pollution and growth of domestic manufacturing capabilities by introducing 'National Electric Mobility Mission Plan 2020'.

IAMAI Startup Foundation is doing its bit for the cause by supporting the journey of some innovative and audacious startups. The foundation is launching a Challengathon and inviting applications from startups to provide the best possible EV-related solution. The winner will be supported with a grant of up to $100,000.

#EVChallengathon will be a platform for upcoming startups to solve problems for EV sectors through the use of various technologies and products. Selected startups would pitch to the jury comprising industry experts. The last date of submitting entries is January 25, 2020. 

The association recognises that these startups will play an all-important role in driving innovations required for the success of the EV in India.

The electric vehicles (EV) market has witnessed rapid evolution worldwide with ongoing developments in the automotive sector. The global automotive industry is on the verge of a paradigm shift, owing to the tech evolution and strict government regulations.  

Currently, homegrown auto majors Mahindra & Mahindra and Tata Motors offer electric cars. While Hyundai launched its electric SUV Kona in July, MG Motor India is slated to bring ZS EV into the market in January. While car market leader Maruti Suzuki has been testing a fleet of 50 electric cars based on its WagonR model platform, it has stated that it would not commercially launch an electric car for public use, citing lack of infrastructure and government support.

Players like Bajaj Auto have also announced the launch of the Bajaj Chetak EV scooter with a long-range battery warranty of 50,000 km for three years.

Existing startup players like Ola Electric, Cell Propulsion, Ather Energy, and eBikeGo are among many others actively contributing to the EV market.

(Edited by Teja Lele Desai)