Crompton Startup Innovation Challenge 2024 (India)

Objective

• Program aims to increase Innovation initiatives, keep track of New Technologies, Leverage the External Ecosystem, & Build proof of concepts.

Usescases

• They are inviting innovative prototypes and product ideas in the following areas to help enhance and strengthen their current portfolio through breakthrough innovations and improved product efficiency. The focus areas for innovation include:
  • Fans
    • Problem Statement: “Developing a simplified installation and uninstallation mechanism for fans to enable easy repairs and initial setup by redesigning the suspension system—DIY (Do-It-Yourself) friendly.”
    • Problem Statement: “Creating innovative packaging solutions for fans to minimize installation efforts and complexity.”
  • Large Kitchen Appliances
    • Problem Statement: “Increasing inlet suction efficiency by 30%-40% while simultaneously reducing noise levels by 30%-40%.”
    • Problem Statement: “Improving burner efficiency in cooktop applications to achieve greater than 80% efficiency.”
  • Pumps
    • Problem Statement: Enhancing the cooling efficiency of pump motor systems with a target to reduce motor temperature rise by 40%.

Incentives

• Non – Fiscal Incentives
  • Collaboration: Top startups will be selected for collaboration with Crompton on the Usecase shared.
  • Mentoring for prototype and validation: Selected startup will have the chance to build a tailor-made prototype for Crompton.
  • Partnership: Selected companies get the opportunity to become a technology partner or supplier to Crompton.
• Fiscal Incentives
  • Cash Grant: Total INR 16 Lakhs Cash Grant for Prototype development.
  • Startups: Startups will be Selected for each Usecase.
  • Reimbursement: Reimbursement up to INR 4 Lakhs each for POC development.

Eligibility Criteria

• Any Indian Startups, SMEs, Entrepreneurs and academia
• Employees of the Company, its Affiliates, distributors, appointed agency/entity holding the Challenge, their families and immediate relatives are not eligible to participate in the program.
• The Challenge is valid for Indian nationals residing in India who are 21 years of age or above.
• Any of the following stage will be qualified
  • Technology or innovation proof of concept (POC) is ready
  • Market Ready Product
  • Deployed solution which requires further scaling up
• The product or technology should be tangible with the expected technology or Innovation.
• Patented technology will be preferred.

For more information, visit Crompton.