The AIC – Pinnacle EV Challenge has been announced by India’s top incubation and investment platform. The AIC (Atal Incubation Centre)-Pinnacle Entrepreneurship Forum, with assistance from the Atal Innovation Mission, NITI Aayog, the Ministry of MSME, and the Ministry of Electronics and IT. This EV challenge is intended to inspire startups from all over the nation working in the EV charging infrastructure, EV products, components, EV-related service, and EV-related solutions space to work on the challenges faced by the electric vehicle (EV) industry and come up with creative solutions. The deadline for AIC-Pinnacle EV Challenge nominations is February 28, 2023. Startups with innovative, specialized solutions to problems facing the EV industry in one or more areas are encouraged to apply.
Speaking on the announcement, Dr. Sudhir Mehta, Founder, AIC-Pinnacle Entrepreneurship Forum, and Chairman of Pinnacle Industries & EKA said, “We are excited to launch the AIC – Pinnacle EV Challenge and provide a platform for startups to work on the challenges faced by the EV industry. With this EV Challenge, we aim to discover promising products, technology, and startups, explore commercial opportunities, and encourage the implementation of solutions and innovation in the EV sector. We firmly believe that startups in our country possess a huge potential, talent, and futuristic vision and have an enormous ability to play a significant role in addressing the challenges the EV industry faces. We are positive that this challenge will inspire and support startups to come up with innovative solutions that will shape the future of the EV industry.”
The forum intends to assist the winning startups with financial awards, assistance with product development, and manufacturing agreements with the EV sector. The first winner of the challenge will receive a cash prize of INR 2,00,000. The second winner will receive INR 1,50,000. The third winner of the challenge will receive INR 1,00,000. If appropriate, the startups will also receive assistance with the commercialization of the goods.
