Auto component manufacturer Sona Comstar has partnered with IIT Delhi to support the development of innovative solutions in safe, clean, and eco-friendly mobility.
The innovation program is open to young Indian startup companies working in electric vehicle (EV) technologies, vehicle safety solutions, other efficient mobility, and connectivity solutions.
The program aims at finding and supporting improvements in EV technologies like extending range through battery capacity improvements, and battery management, fast charging infrastructure, efficient motors, mobile charging solutions for emergencies.
The call for applications is open from August 15 to September 15, 2020.
The technical expertise of IIT Delhi and a strong mentor network for business guidance shall be available for the startups to develop and deploy their solutions.
Two startups shall be supported each year with up to INR 80 lakh each to complete proof of concept and develop prototypes. The incubation and funding support will be provided over 24 months in determined installments against milestones laid as per the project’s objectives. However, mentorship and networking opportunities will be provided even after the completion of this incubation period.
To be eligible, the startup should be registered under the Indian Companies Act of 2013 and incorporated within the past five years from the date of application to the program. The revenue from sales or operations should not be exceeding INR 2.5 crore in any fiscal year since its incorporation. Resident Indian citizens should hold majority stake (>51%) and control of the startup company.
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