Dhruva Space, a space-based startup, became the Qualcomm Design in India Challenge winner, a hardware startup incubation program. Dhruva Space’s low earth orbit satellite, which enables a 5G radio access network, was awarded ₹65 lakh.
Startups like Ossus Biorenewable with its smart bioreactor technology and Nimble Vision with its Ni-smart manhole tech stood first and second runner-ups of the sixth edition of the Qualcomm Program.The first and second runners-up received Rs 50 lakh and Rs 35 lakh, respectively, while the winners received Rs 65 lakh.
Twelve startups among 160 applicants were chosen for incubation in the longest-running hardware startup incubation program.They were chosen in the fields of technology development, intellectual property rights, and business development. This program is based along the lines of the Make in India initiative and began in 2016 to invest in innovation that could grow the country’s economy.
Qualcomm is providing a financial incentive to all of the selected firms in addition to the rewards for the top three. The chipmaker will also pay up to Rs 3.2 lakh for two complete utility patent applications related to the Qualcomm Design in India Challenge proposal and during the program’s incubation phase.
Qualcomm will provide diagnostic assessments and workshop interventions on scaling operations, customers, and products; managing competition and financials; organization-building, and investment-seeking to selected firms at no additional cost.
So far, the programme has incubated 77 firms with 22+ commercial products, over 200 patents filed, and Rs 1050 crore in capital raised, with four successful acquisition exits. During the Qualcomm Design in India Challenge 2021, a total of Rs 1.9 crore in awards was presented.
Edited by : Subbuthai Padma
Published by : Iram Rzivi
