India, 30 September, 2019
: T-Hub, a leader in India’s (pioneering innovation ecosystem that powers next-generation products and new business models,) and United Technologies Corp. (UTC), a (leader in aerospace and building technologies), today announced the launch of the UTC Innovation Challenge. The challenge invites startups working on computer vision technology and predictive analytics to develop new products and services specifically for the aerospace industry.
Shortlisted startups to participating in the challenge will receive support from technical subject matter experts and business mentors across T-Hub and UTC. Both the organisations will also guide the selected startup applicants through the proof-of-concept (PoC) phase. In addition,the startups will get direct access to T-Hub’s ecosystem of mentors, industry experts, investors and service providers.
The call for applications is open now and closes by the first week of November. Computer vision technology submissions are expected to focus on computer-aided visual mapping of engine parts to help the inspection process. Predictive analytics solutions will focus on forecasting for aircraft parts by company location. Shortlisted startups will be given opportunity to pitch their solutions to a group of judges on “Pitch Day” in New York and Hyderabad is scheduled in November. Interested startups can apply: This Link
“The aerospace sector has traditionally depended on labor-intensive inspection. Through this challenge, we are looking at accelerating the best solutions that reduce inspection time and quality,” said Ravi Narayan, CEO of T-Hub. “The launch of UTC Innovation Challenge will provide scaling opportunity for startups looking to expand across geographies. In addition, with this challenge T-Hub and UTC have further strengthened their partnership in the corporate innovation space.”
“As we continue on our digital journey, it’s important for us to engage the startup community and bring outside thinking into our product development work that can accelerate the creation of new offerings for aerospace,” said Limor Spector, UTC Executive Director of Ventures and Alliances. “T-Hub is one of many collaborators we areengaging with to source the best thinking that can solve for some of the biggest challenges facing this fast growth industry.”
Innovation Challenge Details
To apply, startups must meet the following eligibility criteria:
- The product/technology should provide functionality/capability not currently available in any off-the-shelf product, or it should have a significant advantage over current offerings
- The product/technology should represent original ideas developed by the startup which are not subject to any limitations on the startup’s ability to use or transfer the technology
- The startup should have at least one full-time employee who maintains standard business hours working on the technology or venture
The startups selected for the challenge will have an opportunity to receive funding to develop their proof-of-concepts and ultimately will be able to showcase their solutions to UTC business leaders in New York and Hyderabad.
The startups will also receive:
- Mentorship from UTC technology experts and business leaders to help construct a strong application for solutions
- Access to bootcamps conducted by T-Hub for startups to learn about how to work effectively with corporations
- Financial support to help cover expenses for one member per India-based startup to travel to Hyderabad for the “Pitch Day
For more information about the program, visit:
T-Hub enables and empowers an ecosystem hungry for innovation. Based in Hyderabad, India, it leads India’s pioneering innovation ecosystem that powers next-generation products and new business models. It uses the Triple Helix model of innovation based on interaction and collaboration between industry, academia and the government. Incorporated in 2015, it has provided over 1100 national and international startups with access to better technology, talent, mentors, customers, corporates, investors and government agencies. T-Hub also provides thought leadership for Telangana and other state and central government organisations to build innovation ecosystems. It has elevated innovation for leading national and global corporates, transforming enterprise business models for the better.
United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries. By combining a passion for science with precision engineering, the company is creating smart, sustainable solutions the world needs. For more information about the company, visit our website at this link or on Twitter @UTC.