The Valeo Innovation Challenge has been a well known global contest that offers a right platform to engineering students around the world. The students are invited and encouraged to play an active role in automotive innovation by designing the product or system that will create smarter, more intuitive cars by 2030. The winning team would reportedly take home €100,000 in prize money, whereas the teams in the second and third-place would receive €10,000 each.
Valeo has also been awarded the Top Employers label in 22 countries for 2015. The 20 shortlisted teams have developed a working prototype of their project using the €5,000 in funding allocated to each of them by Valeo. The teams participating at the event have reportedly arrived from all over the world and represent a total of 12 countries on four continents - China, Egypt, Germany, India, Malaysia, Poland, Russia, Spain, Turkey, the United Kingdom, the United States and Uzbekistan.
As part of the challenge, technology students from India are shortlisted for international €100,000 prize from Sri Aurobindo International Centre of Education. The six finalist teams will be selected on Tuesday, September 1, 2015. They will be invited to present their projects to the jury at Paris. The top three teams will be announced on Tuesday, September 29, 2015.
Valeo devotes nearly 11% of its original equipment sales to innovation, which is a priority focus for the Group. Most of its research and development programs are focused on the design of technologies that reduce motor vehicle CO2 emissions and promote intuitive driving. Ranking among the leading patent filers in France, the company has close to 11,000 researchers working in 50 research and development centers around the world. Valeo has developed a wide array of innovative products and technologies, which in 2014 represented 35% of its order intake. Some of popular names honoring the event would be Jacques Aschenbroich, Bruno Bonnell, Yotam Cohen, Andre Chieng, Prof. Dr.-Ing Welf-Guntram Drossel and Guillaume Devauchelle.
