Hyderabad: T-Hub, India’s fastest growing startup engine, and American tech conglomerate Otis Elevator Co., today joined forces to launch the Otis Innovation Challenge for startups. The global competition aims at identifying emerging technology-based solutions that can integrate with Otis products. Otis is the world’s leading manufacturer and maintainer of people-moving products, including elevators, escalators and moving walkways.
The call for applications to participate in the challenge is open from June 19, 2018 and closes on July 22, 2018. After submitting the full application, shortlisted startups will get an opportunity to present their solutions to judging members on “Pitch Day,” which will be organised by T-Hub on August 10, 2018.
Through this challenge, T-Hub can potentially help Otis enhance the efficiency and utilisation of Otis products including elevators, escalators, and travellators (moving walkways), by providing access to creative, smart solutions from startups. Technologies capable of using information sources such as cameras, sensors, schedules, real-time traffic, transit, and weather forecasts to analyse data for Otis products are in demand for this challenge. Submitted solutions should be distinct and scalable and use low-cost general purpose computing, sensing and connectivity hardware.
“T-Hub is committed to enhancing innovation and entrepreneurship through key engagements in the ecosystem, while accelerating the growth of the startups,” said Jay Krishnan, CEO of T-Hub. “UTC’s intent to continue partnering with us is both a validation of synergies in the deep tech space as well as a continued engagement from 2017. The launch of the Otis Innovation Challenge will provide a global scaling opportunity to startups and accelerate innovation for the elevator division of UTC, using world-class, advanced solutions.”
The top startups selected for the challenge will get an opportunity to collaborate with Otis to potentially enable innovative technology solutions at its facility in Hyderabad. They will also get the chance to scale-up by developing a proof of concept (PoC) of the prioritised solution with funding of up to $10,000 per startup. On “Demo Day,” scheduled for October 2018, the startups will showcase their respective PoCs to executives of Otis and other UTC business units. The winning startups will have an opportunity to develop their PoC further and also gain access to T-Hub’s network of mentors, industry experts, investors, service providers, and community/ecosystem.
Thierry Jomard, Senior Vice President, Operations and Engineering, Otis, said “Otis is a company built on innovation responsible for a string of technological breakthroughs that continue to define the industry it created 165 years ago. We are reinventing ourselves as a mobility company leveraging our ever growing digital ecosystem to meet the evolving needs of customers and users in a hyper-connected world.”