Ericsson has announced that it has introduced the Ericsson Innovation Awards in association with the Foundation for Innovation and Technology Transfer (FITT). The awards will embark the spirit of innovation among the students of Indian Institute of Technology. Through this Ericsson wants to assist innovative projects from these engineering students and support some deserving ventures all the way through to their incubation phase at IIT-approved technology business incubators.
Speaking about the launch of the award, Chris Houghton, Head of Region India at Ericsson, said, “By instituting the Ericsson Innovation Awards, we’re seeking to encourage the culture of innovation within the IITs and to support these talented young minds to develop more innovative and relevant solutions for the benefit of industry. As a company that takes pride in its culture of innovation, we’re looking to promote innovation in India through this partnership and other programs that we plan to organize in India.”
On the other hand, Anil Wali, Managing Director, FITT, said, “The Ericsson Innovation Awards is a great initiative that encourages students to push their boundaries and come up with innovative solutions. The awards will enable our students to gain practical knowledge of the industry, while recognizing their creativity and providing them with necessary support to incubate their projects.”
The proposals of the students will be shortlisted with the help of two jury sessions. In the first phase the jury will be shortlisting up to 10 proposals on criteria such as degree of innovation, feasibility, usability, relevance, time to market and the overall impact on masses. Each shortlisted proposal will be given an incentive by Ericsson to complete the initial prototype within three months. In the second round two innovative projects will be selected and then the winner will be announced through a ceremony in April next year.