Altair and Startup India Announce Launch of Altair Start-up Challenge 2020 and Winners of Altair Grand Challenge 2019

Altair (Nasdaq: ALTR), a global technology company providing solutions in product development, high-performance computing and data analytics, announced the Altair Start-up Challenge 2020. Altair partnered with Startup India, a Government of India initiative, to build a strong and inclusive ecosystem for innovation and entrepreneurship in India across all industry segments. Following a successful inaugural competition in December 2019, with 10 finalists chosen from a pool of 206 participating companies, the Start-Up Challenge provides high-end technology access and mentor-ship.

Altair’s objective is to identify, support, mentor and reward budding start-ups with its simulation, optimization and machine learning technologies, in addition to providing a dedicated team of mentors with extensive experience and knowledge. The domain categories were simulation-driven product design and development, digital twin and embedded systems.

The Altair Grand Challenge required start-up companies to identify Altair simulation technologies to drive the design and engineering of their companies’ products, leading to better product performance, reduced product development time and cost. Ten companies where shortlisted from a pool of more than 200 applications. These start-ups were provided mentorship from experts and free access to Altair technologies for four months. Winners were judged based on the best application of the Altair technologies for enhancing their product designs and its potential business impact. These 10 winners in 2019 were acknowledged at a ceremony held at Altair’s new office in Bengaluru.

Below are the list of Winners of 2019 competition:

• First place – Starya Mobility of Bengaluru with cash prize of INR 1,75,000. Starya’s innovation was in motor design and chassis design for electric vehicles.
• Second place – tie between BlinkEYELABS Electronics, Bengaluru, which developed embedded systems to enhance driver safety & IndusTill FarmTech, Pune for validation of an agro-utility-vehicle which can be used by farmers at every stage of cultivation in the crop-life-cycle. Both were awarded INR 1,05,000.
• Third place – Saif Automations Services LLP, Visakhapatnam with a cash prize of INR 70,000. Saif Automations innovation was in battery thermal management and electro-magnetic Interference and Compliance (EMI/EMC) of an unmanned remote controlled buoy designed for rescuing humans by the navy.

The startup ecosystem in India is buzzing with new ideas. Disruptive technologies like AI, machine learning and additive manufacturing are rapidly transforming the way companies innovate. Altair’s motive behind collaborating with start-ups is to enable them to accelerate innovation with our simulation and machine learning technologies like Altair HyperWorks and Altair Knowledge Works. Our goal is to scale this model ten times in 2020 and bring many more innovative start-ups into the fold.

Mr. Vishwanath Rao, Managing Director, Altair India.

Amazing ideas, an innovative approach, sense of urgency, desire to create and leverage technology disruptions was seen across all participating teams. Understanding their goals, challenges and mentoring them on process, tools and technologies is a wonderful experience. I am glad the Altair portfolio could meet their traditional as well as deep tech requirements. We are eagerly looking forward to Altair Start-up Challenge 2020.

Mr. Panduranga Rao, vice president-technical operations, Altair India

Deep-tech start-ups will play an integral role in taking India’s digital transformation to the next level. The partnership with Altair to provide innovative tech start-ups the right opportunities and mentorship is a step towards realizing the true potential of our creative youth. We look forward to more corporate participation in building the next set of tech unicorns from India.

Diksha Nigam, Member of Start-up India

About Startup India
Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive for the growth of startup businesses, to drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower startups to grow through innovation and design.
Several programs have been undertaken since the launch of the initiative on 16th of January, 2016 by Hon’ble Prime Minister, to contribute to his vision of transforming India into a country of job creators instead of job seekers. These programs have catalyzed the startup culture, with startups getting recognized through the Startup India initiative and many entrepreneurs availing the benefits of starting their own business in India.

About Altair (Nasdaq: ALTR)
Altair is a global technology company that provides software and cloud solutions in the areas of product development, high performance computing (HPC) and data analytics.  Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future. To learn more, please visit www.altair.com.