Paris, February 18, 2014 – This year, 1412 students around the world are participating in the Valeo Innovation Challenge, with a large contingents from every continent. A total of 969 teams of engineering students from 55 countries and representing 455 universities have submitted their projects, with the goal of winning the €100,000 first prize.
Starting today, some sixty Valeo experts and a number of independent scientists will review each of the submitted projects to select the 20 teams that will continue on to the next stage of the contest.
The 20 short-listed teams will be announced on April 15, 2014, and Valeo will grant each of them €5,000 to create a functioning prototype.
The six teams that submit the most innovative projects will be chosen on September 16, 2014. They will be invited to Paris a month later to present their projects to a jury chaired by Jacques Aschenbroich, Valeo Chief Executive Officer, and comprised of members of the Group’s senior management team, as well as eminent figures from the worlds of science and design. The jury will designate the winning team, which will receive €100,000, with the second and third-place teams each receiving €10,000.
The goal of the Valeo Innovation Challenge is to invite students to imagine equipment that, between now and 2030, will make cars more intelligent and intuitive. Students taking part in the Challenge are asked to develop bold, revolutionary solutions for the cars of the future.
With the Innovation Challenge, Valeo is demonstrating once again that innovation and R&D are top priorities for the Group. Indeed, innovation guides the teams who are working each day to invent the automobiles of tomorrow.
Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for the automotive industry, mainly for CO2 emissions reduction and intuitive driving. Valeo ranks among the world's top automotive suppliers. The Group has 124 plants, 20 research centers, 36 development centers, 12 distribution platforms and employs 75,300 people in 29 countries worldwide.
In 2012, Valeo generated revenue of €11.8 billion and invested €1 billion in research and development.
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