2,750 students around the world have signed up for the second annual Valeo Innovation Challenge!
A total of 1,324 teams of engineering students, which is nearly 40% more than last year, from 89 countries and representing 1,036 universities have submitted their projects, with the goal of winning the €100,000 first prize.
Some 80 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 1st, 2015, 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 1st, 2015. They will be invited to Paris 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 Valeo 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 car of tomorrow.
Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving.
In 2013, the Group generated sales of 12.1 billion euros and invested over 10% of its original equipment sales in research and development.
Valeo has 122 plants, 16 research centers, 34 development centers, 12 distribution platforms and employs 79,500 people in 29 countries worldwide.
Valeo is listed on the Paris Stock Exchange and is a member of the CAC 40 index.
For more information about the Valeo Group and its businesses, please visit www.valeo.com.