NXP Semiconductors initiates Tech Startup Challenge 2021

CioreviewIndia team | Thursday, 04 March 2021, 09:39 IST

NXP SemiconductorsIn an expansion to the technology startup ecosystem, NXP Semiconductors has launched NXP India Tech Startup Challenge 2021 in collaboration with Government's Invest India and Startup India initiative. Three tech startups will be elected and they will receive prize money of up to Rs 6,00,000.

The challenge started accepting participants on February 11 and the last date to apply is March 18. The winners will be declared on April 15.

"This event is for the purpose of connecting, collaborating, and nurturing Indian technology startups. This event will drive global visibility and network scalability for tech startups," NXP Semiconductors said.

Startups built-in India as a Private Limited Company with 51 percent of the company owned by Indian citizens (At least one company founder or executive is a legal resident of India, and at least 18 years of age at the time of entry into the Competition).

Technology Startups concentrating on IP, processors development, semiconductor fabless ASIC design, and embedded product development can participate in the challenge.

Relevant industry

Analytics; AR VR (Augmented + Virtual Reality); Automotive; Computer Vision; Telecommunication & Networking; Aeronautics Aerospace & Defence; AI; Green Technology; Enterprise Software; Design; Renewable Energy; Technology Hardware; Healthcare & Lifesciences; Internet Of Things; Nanotechnology; Non- Renewable Energy; Social Impact; Security Solutions; Safety; Robotics; Biotechnology; Others; Toys And Games.

Themes for the challenge

Automotive; Industrial & IoT; Mobile; Communication Infrastructure and

Other Related Sectors (e.g. Smart City, Smart Home, etc.).

Guidelines to enter the competition

Entries will be accepted until March 18, via the application portal on the Startup India website.

Each participant must complete and submit a competition application that complies with the terms and conditions. Requirements and submission form can be found on the Startup India portal.

Incentives for the winners of the startup challenge

Selected 3 tech Startups will be provided with Rs 6 lakh distributed among winners (including all applicable & withholding taxes). They will also receive a mentorship opportunity (3 interactive sessions with a mentor each month for 3 months) from NXP India Technical Leadership Experts.

Furthermore, selected top 10 tech startups (in embedded system and product design space), will be invited as an entrant for up to 3-month Equity-free Pre-Incubation at Electropreneur Park (ESDM Incubator).

Selected top 10 tech startups (in semiconductor and IP design space), will be invited as an applicant for up to 4-month Equity-free Cohort period together with SFAL - Semiconductor Fabless Acceleration Lab (Semiconductor & IP Design Incubator).