The award was given on Battery Health Management System with Integrated Charger by Texas Instruments India (TI), a TI statement said here yesterday.
The IIT KGP figured on top among the 10 winning teams of one of the country's most popular design contests for engineering students.
Sir M Visvesvaraya Institute of Technology of Bengaluru, won the first runners up for their innovation Underwater and Airborne Unmanned Autonomous Vehicle and Bhartiya Vidya Bhavan's Sardar Patel Institute of Technology of Mumbai was adjudged the second runners up award on their innovation Health Set.
The announcement was made at the grand finale at IIM Bangalore on August 10 in the presence of Dr S D Shibulal, co-founder of Infosys, Dr Anita Gupta, Adviser and Associate Head, National Science & Technology Entrepreneurship Development Board (NSTEDB) and the Department of Science and Technology of the union government.
The winners qualify for a Rs 3.5 crore start-up seed fund from the Department of Science and Technology (DST) and an opportunity to be incubated at 'IIM Bangalores innovation and entrepreneurship hub N S Raghavan Centre for Entrepreneurial Learning (NSRCEL).
The final 10 winners were chosen after several rounds of discussions and deliberations by a panel of judges.
More than 15,380 students of 965 colleges took part with 30 teams having made it to the final after a rigorous selection process.
Gunit Singh Chabbra of IIT Kharagpur said, "to be one of the top 10 winning teams is absolutely thrilling. IICDC is a once-in-a-lifetime experience and I would encourage students who love technology, have a great idea and want to be entrepreneurs, to definitely give it a shot."
This years edition has witnessed 34 patents filed by the participants across domains like agriculture, health, vehicle safety, IOT, automation, security and eco-friendly appliances, the statement said.
In a year-long challenge, the participants were mentored by TI and IIMB.
While TI provided technical resources and guidance throughout the contest - from free tools, technical guidance and mentoring, to helping student develop their prototypes - DST provided funding of Rs 3.5 crore to the student start-ups, which went towards the product development process and seed fund.
The Texas Instruments is a global semi-conductor design and manufacturing company which develops analog ICs and embedded processors.
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