NXP Semiconductors Partners with Startup India for Fourth Season of NXP India Tech Startup Challenge

Feb 22, 2024 Mark

Feb 22, 2024: NXP India, a prominent R&D facility of NXP Semiconductors, proudly announces the launch of the fourth season of the NXP India Tech Startup Challenge 2024. In collaboration with Startup India, this initiative underscores NXP’s commitment to fostering innovation, collaboration, and growth within India’s startup ecosystem. The challenge provides a platform for deep tech startups across various sectors, aiming to propel India’s tech landscape onto the global stage.

Organized jointly with Startup India, an initiative by the Ministry of Commerce and Industry, the program seeks to bolster India’s startup ecosystem by offering startups an opportunity for global visibility and network scalability. Deep tech startups focusing on areas such as AI, ML, Edge Computing, IoT, and Quantum are invited to participate, with a chance to present to thousands of tech leaders and investors.

Key Highlights of the Program:

  • Prize and Mentorship: The top 3 finalists will receive a total prize of INR 10 Lacs along with mentorship opportunities provided by NXP India.
  • Supporting Partners: Partners such as Extreme Tech Challenge (XTC), Electropreneur Park, Semiconductor Fabless Acceleration Lab (SFAL), and InCeNSE at IISc Bengaluru will offer additional support to the program.
  • Application Details: Applications open from February 19, 2024.

Benefits for Top 3 Selected Startups:

  • Total prize money of INR 10 Lacs along with mentorship opportunity from NXP India Technical Leadership Experts.
  • Invitation to participate in the Extreme Tech Challenge (XTC) as finalists, entering global competitions and exposure to elite panel investors.

Benefits for Top 10 selected startups include:

  • Opportunity to share their business value proposition to NXP and Industry partners along with networking opportunities.
  • Invitation to participate in up to a 3-month Equity-free Pre-Incubation at Electropreneur Park (ESDM Incubator).
  • Entry into a 4-month equity-free Cohort period in collaboration with SFAL – Semiconductor Fabless Acceleration Lab.
  • Opportunity for up to a 3-month equity-free pre-incubation at InCeNSE, located at IISc Bengaluru.

Hitesh Garg, Vice President & India Managing Director, NXP Semiconductors, expressed excitement about the launch of Season 4, highlighting its alignment with the Government of India’s vision to foster startups. He emphasized the challenge’s role in connecting, collaborating, and nurturing Indian technology startups, aiming to make India a global leader in sustainable tech innovation.

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