NXP India, one of the biggest R&D centers for NXP Semiconductors, is pleased to announce Carditek Medical Devices, TechEagle Innovations, and FeetWings as the Winners of NXP India Tech Startup Challenge Season 3. This competition provides a platform for startups to showcase their innovative ideas, obtain valuable mentorship, incubation support, and gain exposure to potential investors and partners. The challenge is part of NXP India’s continued commitment to supporting innovation and entrepreneurship in the country.
Winners will be awarded prize money of INR 10 lakhs distributed equally and a mentorship opportunity with NXP India’s panel of Technical and Business Leadership Experts.
Additionally, the top 3 winners will be given the opportunity to participate as a finalist in the Extreme Tech Challenge (XTC), qualify for XTC’s bootcamp event, and compete in the global winners’ competition. The bootcamp consists of multiple hours of tutorials and small group interactions with global-level executives of major technology, business, and venture capital industry leaders. For the global competition, finalists will be publicized by XTC and have their companies evaluated by an elite panel of investors for global exposure.
The top 12 finalist startups will be invited as entrants for 3-month Equity-free Pre-Incubation at Electropreneur Park (ESDM Incubator) and for a 4-month Equity-free Cohort period together with SFAL – Semiconductor Fabless Acceleration Lab (Semiconductor & IP Design Incubator).
Season 3 of NXP India Tech Startup Challenge was launched on 6th February 2023, on the Startup India website in collaboration with Government Partner: Startup India, Global Partner: Extreme Tech Challenge (XTC), and its incubation partners: Electropreneur Park and the Semiconductor Fabless Acceleration Lab (SFAL).
The applicants were divided into five key market sectors, such as Automotive, Industrial & IoT, Mobile, Smart City & Smart Home, and Communication Infrastructure. An experienced panel of worldwide industry leaders has selected the winners after a thorough evaluation based on crisp parameters like innovation and creativity, market fit, product readiness, and team strength.
Lars Reger, Executive Vice President and Chief Technology Officer, NXP Semiconductors said, “The startup industry in India has shown tremendous growth potential in the past few years. This is a testament to the innovative and entrepreneurial spirit of our young and talented workforce. Startups are the lifeblood of the tech industry; they power the economy, drive growth, create jobs, and deliver value to customers. I would like to thank all the participants for their enthusiasm and dedication towards the NXP India Tech Startup Challenge. Your innovative ideas and hard work are a testament to the spirit of entrepreneurship in India that will help in shaping the future of our country.”
Hitesh Garg, India Country Manager, NXP Semiconductors said, “The whole journey of NXP India Tech Startup Challenge 2023 has been very fulfilling and exciting. The Startup pool this year was very interesting with great innovations happening in the startup ecosystem. It was equally heartening to see the women entrepreneurs participating and leading from the front. These startups have demonstrated exceptional innovation, technical expertise, and business acumen and we are confident that they will continue to make great strides in the industry. We are excited to witness the variety of innovation and the tenacity with which entrepreneurs and the ecosystem as a whole are gearing up for the advancement of the nation.”
NXP is committed to support the startup ecosystem in India by aligning with government initiatives and policies like Make in India, Startup India, and Digital India. NXP recognizes the potential of startups to drive innovation and create new business opportunities, and are committed to providing the necessary resources and support to help them succeed. Congratulations to the winners and to the rest of the finalists for their innovative ideas.
The Winners of the challenge:
- Carditek Medical Devices, a medical equipment manufacturing company
- TechEagle Innovations, a drone manufacturing company
- FeetWings, a smart healthcare assistant app
