Valeo Innovation Challenge 2018 International Students contest to win 200,000 Euros

0
Valeo Innovation Challenge 2018 International Students contest to win 200,000 Euros
Valeo Innovation Challenge 2018 International Students contest to win 200,000 Euros

 

Valeo has launched the fifth Valeo Innovation Challenge. Through this Valeo Innovation Challenge 2018 International Students contest to win 200,000 Euros, Valeo wishes to encourage students from all around the world not only to innovate but also to develop their sense of entrepreneurship by offering the winners the chance to create their own start-up.

The aim of the competition is to reward an innovative project, whether it concerns a technological innovation or an idea for new ways to use cars. Participants should propose new solutions in one of the three areas revolutionizing the automotive industry today:

– Vehicle electrification

– Autonomous vehicles

– Digital mobility

Students are asked to develop bold and revolutionary solutions for the benefit of society.

The competition is a way for Valeo to show that innovation lies at the core of its DNA and that Research and Development is a priority for the group. It is a guiding principle for Valeo’s 14,000 engineers who each day innovate to invent the car of tomorrow.

The selection criteria for the projects are:

  • Bold, innovative and original idea of the project
  • Challenges and relevance of the problem addressed and how the expectations of automakers, end-users and society have been factored in
  • Project quality with a view to creating a start-up:
  • Project feasibility

  • Structured business model

At the end of the competition, the sum of €200,000 will be shared, as decided by the jury, between the winning team of the Challenge and two second-place winners, in accordance with the provisions of Article 8.

 

Deadline:

For  submitting entries is Friday, March 30, 2018 at 12 p.m. (noon), Paris (France) time.

https://valeoinnovationchallenge.valeo.com

 

ARTICLE 1. ORGANIZER

The organizer of the contest is Valeo, a limited liability company (société anonyme) with a share capital of €238,387,620, headquartered at 43 rue Bayen 75848 Paris Cedex 17 (552 030 967 RCS Paris), hereafter “the organizer”.

 

ARTICLE 2. PURPOSE OF THE CONTEST

The challenge: Become an active force in automobile innovation by proposing new solutions in one of the three areas revolutionizing the auto industry today:

– Vehicle electrification

 Autonomous vehicles

– Digital mobility

 

 ELIGIBILITY AND ENTRY REQUIREMENTS

The contest is open to students worldwide who have completed their high school education, from any discipline, and to teachers (maximum of one teacher per team), with one entry per person (with same name and same email address).

 

Participants must be able to travel outside their country of residence and possess, by October 2018, a passport that is still valid for six months after the date scheduled for awarding the prizes (October 2018).

 

The following people may not enter the contest:

  • The organizer’s employees and their children
  • The employees, and their children, of any company directly involved with Valeo
  • People who have been involved in organizing the contest, and their children
  • People who have a conflict of interest (especially interns, apprentices and PhD students still working for the company) throughout the competition

 COMPETITION SCHEDULE

The competition starts on Wednesday, November 15, 2017, and the deadline for submitting entries is Friday, March 30, 2018 at 12 p.m. (noon), Paris (France) time.

Valeo experts and external experts will assess the projects from April 2 to June 15, 2018.

The nine finalists will move on to project acceleration from June 16 to September 28, 2018.

The prizes will be awarded in October 12, 2018 in Paris, France.

The organizers reserve the right, in case of force majeure or for any reason beyond their control, to modify the dates of the competition. They cannot be held liable in this regard.

 

 HOW TO ENTER

To enter, complete the online form on the website: https://valeoinnovationchallenge.valeo.com

Any entry form that is incomplete or that contains inaccuracies will not be taken into account and will result, automatically and ipso jure, in the disqualification from the contest of the team in question.

Participants are required to compete using their true identities. The organizer reserves the right to carry out all checks that may be necessary.

Participants must compete in teams made of two to five people maximum, which may include an academic teacher. The constitution of the team shall only be considered definitive on completion of the registration phase. It will be possible to change team members during this phase (from Wednesday, November 15, 2017 to Friday, March 30, 2018, noon, Paris time). Once this phase has been completed, no more changes will be accepted. If however a member decides to leave the team after this phase, the team must inform the organizer by email. The team cannot remain in the running if it has fewer than two members.

Each team must appoint a leader who will represent it and who must be one of the students in the team. The leader will be the Valeo contact person. He/she will coordinate with the other team members.

The organizer shall not be held responsible for any disagreements that may arise among the members of a team or between different teams and accordingly, cannot intervene.

Entry in the contest implies the unreserved acceptance of these regulations in full, rules of conduct and laws, regulations and other legislation applicable in France.

The organizer shall not be bound to return the entries presented, once the contest is over.

 

ARTICLE 6. CONTEST PROCEDURE

The selection process is as follows: 

PHASE 1: CALL FOR ENTRIES AND REGISTRATION PHASE

From Friday, October 27, 2017 to Friday, March 30, 2018, 12 p.m. (noon) – Paris time

Students are invited to form teams made up of two to five people (which may include an academic teacher), and can register for the contest via the website https://valeoinnovationchallenge.valeo.com. They must submit their project with:

  • A pitch (MP4 video file format), no longer than three minutes, explaining the project in a clear, audible, and simple manner

  • A slide show of five slides presenting the team; the problem identified; the current or known solutions; the technical solution proposed; the target market; and the business model

The specifications defined by the organizer for this phase will be published online at https://valeoinnovationchallenge.valeo.com

During this phase the teams may modify the content of their entries, whether this involves the team members or the content of their project.

 

Project evaluation (from April 2, 2018 to June 15, 2018)

The organizer, assisted by Valeo’s Marketing and R&D Experts along with external experts, will select the nine best projects on the following criteria:

  • Bold, innovative and original idea of the project: (40%)
  • Challenges and relevance of the problem dealt with and how the expectations

of automakers, end-users and society have been factored in:         (20%)

  • Project quality with a view to creating a start-up: (40%)
    • – Project feasibility
      • – Structured business model

 

Once this has been completed, nine finalists will be selected.

Valeo will announce the results to all candidates.

The list of the nine finalist teams selected will be published on the website https://valeoinnovationchallenge.valeo.com and on social media on Friday, June 15, 2018.

 

Phase 2: ACCELERATION OF THE NINE FINALIST PROJECTS

From June 16 to September 28, 2018

The nine finalist teams will be asked to finalize their project as a five-minute-long pitch with a slide show and/or video component and/or prototype to explain:

  • The problem identified

  • The solution proposed

  • The market research

  • The impact on society

  • The business model

 

The teams will be given the opportunity to work on project acceleration remotely in order to further develop the project on various issues, such as their understanding of the automobile market, the technical content, the business model, the pitch preparation for the final round, etc.

The specifications defined by the organizer for this phase will be published online at https://valeoinnovationchallenge.valeo.com

 

Phase 3: THE FINAL ROUND BEFORE THE JURY

October 2018

The project presentations will take place indoors. When a teacher forms part of a team, the project must be presented by the students and not by the teacher. The project shall remain the property of the team.  The oral presentation may be shared by the various members of the team. The oral presentation will last five minutes, followed by a ten-minute Q&A session.

 

The organizer shall bear the cost of traveling to Paris (France) by the members of the nine finalist teams, including return tickets and accommodation, excluding meals, beverages, personal expenses, excursions, visits other than those planned by the organizer, the cost of which will be borne by the finalists.

 

ARTICLE 7. JURY MEMBERS

The composition of the jury is determined by the contest organizer.

The jury will be chaired by the Chairman and CEO of Valeo and composed of Valeo managers as well as figures from outside the group, well known for their professional experience and competence (scientific, design, sociological, philosophical, entrepreneurial, etc.).

 

The jury will select the three winning teams and will determine the prize amount (a total of  €200,000) to be awarded to each one.

 

The jury is sovereign and is not required to provide reasons for its choice of winning teams or for the allocation of prize money for each team. Accordingly, no claims shall be accepted with regard to the selection or the prize amount of each winning team.

 

ARTICLE 8. PRIZES

At the end of the competition, the sum of €200,000 will be shared, as decided by the jury, between the three winning teams. The three winning teams will have to create a start-up within a deadline of six months after the results have been announced. The prize money shall be paid out to the newly created company, subject to legal and fiscal requirements. Once the deadline has expired, the prize money can no longer be paid out.

In exchange, Valeo will take a 5% stake in the equity of the future companies.

They will also have the benefit of being introduced to investors and the world’s best start-up accelerators.

The organizers reserve the right to request proof of the winning start-up’s existence (a Kbis if in France, or a certificate of registration if outside of France) and of its compliance with fiscal regulations, to award each prize.

Any prize money not awarded will not be put back into play.

 INTELLECTUAL PROPERTY

Participants shall guarantee on their honor that they are the sole creators and owners of the idea and project presented for the contest, that the projects have not already been partially or fully disclosed (through public presentations, patents, etc.) and are not the result of plagiarism.

No claims may be made by other teams on projects drawing on the development(s) of projects previously presented to Valeo Innovation Challenge, when based on general scientific principles.

The project shall remain the intellectual property of the team.

 

Intellectual property rights will be allocated on a case-by-case basis, in agreement with the inventors and taking specific local legal rules into account.

Any patents that are filed will be followed up by Valeo as soon as this is necessary, and in agreement with the team members.

  

ARTICLE 10. PUBLICITY AND IMAGE RIGHTS

Throughout the contest, Valeo will communicate on the identity of the teams and the progress of their projects. Accordingly, the teams undertake to provide biographical details and photographs requested by Valeo and agree to these being published on the website:

https://valeoinnovationchallenge.valeo.com and on its social media accounts as part of the communication campaign for the contest, until the end of 2020.

The winners expressly agree to the free usage and publication of these data on any media and for any advertising or promotional campaign related to this contest, until the end of 2020.

All of the nominative information that the participants provide when registering or during the contest are intended solely for Valeo which may share it internally and transfer it only to its technical service providers, for the smooth running of this challenge.

In accordance with Article 27 of the French Data Protection Act of January 6, 1978, the participants have the right to access, correct, or delete any data that concerns them and may object to the processing of this information by writing to the following address:

Valeo

Direction de la Communication

43, rue Bayen

75848 Paris Cedex 17

France

 

Stages explained once again;

First Stage: Registration & Ideation

From November 15, 2017 to March 30, 2018 at noon (Central European Time +1)

Students are invited to create an account on the platform and participate to the challenge by forming a team of two to five people maximum. Next, present your team idea in a mp4 video pitch(maximum 3 minutes) accompanied by 5 slide describing the composition of the team; the problem identified; the existing or known solutions; the proposed technical solution; the target market and the business model. You can download a template here!

 

Second Stage: Project accelerations

From June 16, 2018 to September 28, 2018 at midnight (Central European Time +1)

 

The 9 selected teams will have 8 weeks to work on their projects (file and proof of concept). They will have the support of Valeo and recognized for their experience and professional expertise, like scientists, designers, sociologists and architects

Third Stage: Final Pitch & Awards

October 12, 2018

On October 12th, all finalist teams will have 3 minutes to pitch their project, followed by a 2 minute Q&A session with judges.

The judges will select the 3 winning teams!

Visit the official page of Valeo Innovation Challenge 2018 International Students contest

Speak up