Valeo Innovation Challenge Offers $135,000 Prize to Engineering Students
TROY, Mich., Nov. 21, 2013
TROY, Mich., Nov. 21, 2013 /PRNewswire/ -- Valeo is inviting engineering
students from across the globe to participate in its Innovation Challenge
program for a chance to win $135,000^1 (€100,000). Teams of two to five
engineering students can enter their bold, revolutionary personal mobility
solutions for the society of tomorrow with the goal of designing equipment
that will make the car more intelligent and intuitive between now and 2030.
(Photo: http://photos.prnewswire.com/prnh/20131121/DE21888 )
Participants can sign up now at the Valeo Innovation Challenge website at:
For the initial selection rounds, engineering students are to develop and, as
a team, submit a project in English. The 20 shortlisted teams will then be
asked to create a model in the format of their choice (physical mock-up,
application or other). Each team will be given approximately $6,700^1
(€5,000) to put their idea into practice and build a functioning demonstrator.
The three finalist teams will present their projects to the Challenge jury of
Valeo experts and external partners, chaired by Valeo CEO Jacques
Aschenbroich, at the 2014 Paris Motor Show. The winning team will take home
the $135,000^1 (€100,000) prize.
The Innovation Challenge selection criterion is based on:
oThe idea's boldness, originality and innovation.
oThe importance and relevance of the challenge being addressed and the
inclusion of social needs.
oThe quality of the idea's presentation.
oMastery of the idea's required technical aspects.
oDemonstration of feasibility of the project through a mock-up.
The Innovation Challenge program demonstrates the commitment and priority
Valeo places on research and development and guiding teams who are innovating
everyday to invent the automobiles of tomorrow. In 2012, Valeo was featured
for the first time in Thomson Reuters' Top 100 Global Innovators ranking,
reflecting the Group's commitment to innovation.
Most of Valeo's research and development programs are focused on the design of
technologies that reduce vehicle CO emissions. The company dedicates
nearly 10 percent of its original equipment sales to research and development.
With close to 9,000 researchers in 20 research centers and 35 development
centers around the world, Valeo has developed an array of innovative products
and technologies that represent more than 30 percent of its reported original
The Group plans to hire some 1,000 engineers and technicians per year over the
next three years. Valeo plans to increase its North America's development
staff by more than 100 innovators over the next 5 years.
Valeo is an independent industrial Group fully focused on the design,
production and sale of components, integrated systems and modules for the
automotive industry, primarily for CO emissions reduction. Valeo ranks
among the world's top automotive suppliers. The Group has 123 plants, 20
Research centers, 35 Development centers, 12 distribution platforms and
employs 73,300 people in 28 countries worldwide.
In North America, Valeo's regional headquarters are located in Troy, Mich.,
and the company has 16 production sites and seven research and development
centers. The company employs more than 10,000** people across the United
States (2,400) and Mexico (7,600) and was responsible for 17 percent of the
Group's 2012 global annual original equipment sales.
More information about the Valeo Group and its activities can be found on the
Internet at www.valeo.com
*Currency conversion based on the average of the 2012 month-end FX Euro to USD
**Total number of employees as of mid-year 2012 (June. 30, 2013).
Phone: (248) 619-8377
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