Valeo Innovation Challenge evolves for third annual competition
Paris, November 10, 2015 – Valeo has announced improvements to its third annual Valeo Innovation Challenge. The contest will now feature a new category and be extended to students in every discipline. Students from all walks of life – particularly those enrolled in social sciences, design or business courses – may now take part thanks to the creation of a new category, new ways of using cars, which is aimed at bringing disruptive ideas to light. Engineering students can of course still apply as usual in the technical innovation category, which has existed since the project's inception.
The Valeo Innovation Challenge asks students to come up with an innovation or idea that will make cars smarter, cleaner, more fun and more intuitive by 2030.
Students wishing to develop a product or a system are invited to register in the technical innovation category, whereas those with an innovative idea, application or business model for the car of the future can take part via the new ways of using cars category.
The winning team in each category will take home a grand prize of €100,000 and the second-place team in each category will receive €10,000.
Valeo is aiming to build on its open innovation strategy by strengthening ties across the academic world. The disruptive innovations that will shape the car of tomorrow could take the form of new technologies as well as innovative ideas associated with new ways of using cars. This explains why Valeo wanted to open up the contest to the largest possible number of participants.
Students have until January 15, 2016 to sign up on the contest's dedicated website, form a team of 2 to 5 people and submit the first draft of their project. After reviewing the projects, Valeo will announce the 24 teams shortlisted for the semi-finals (12 for each category) on March 18, 2016.
Contest information and registration: https://valeoinnovationchallenge.valeo.com/
|September 29, 2015–January 15, 2016||Teams formed and projects submitted|
|March 18, 2016||24 semi-finalist teams announced|
|March 18, 2016–July 23, 2016||Teams each given €5,000 to develop their project|
|September 23, 2016||Eight finalist teams announced|
|October 2016||Projects presented to the panel and winners announced|
With the Valeo Innovation Challenge, Valeo is demonstrating once again that innovation and R&D are the Group's top priorities. Day in, day out, its teams are guided by a constant commitment to innovation as they work to invent the car of tomorrow.
Valeo invests 10% of its original equipment sales in R&D. Most of Valeo's research and development programs are focused on the design of technologies that reduce motor vehicle carbon emissions and promote intuitive driving. Ranking among the leading patent filers in France, Valeo has close to 11,000 researchers in 50 research and development centers around the world. Valeo has developed a wide array of innovative products and technologies that represented 35% of its order intake in 2014.
Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2014, the Group generated sales of €12.7 billion and invested over 10% of its original equipment sales in research and development. Valeo has 135 plants, 16 research centers, 35 development centers and 15 distribution platforms, and employs 82,700 people in 30 countries worldwide.
Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index.
For more information about the Valeo Group and its activities, please visit our website, www.valeo.com
For more information, please contact:
Tel: +33 (0)1 40 55 21 75/37 18/21 20