Magna sponsoring 2017 Top Ten Automotive Startups Competition
The Los Angeles Auto Show's AutoMobility LA announced that global automotive supplier Magna International Inc. will be a sponsor for its 2017 Top Ten Automotive Startups Competition (Top Ten). Magna International Inc. is the first company to sponsor the evolving competition.
"Our work with start-ups helps us stay at the forefront of emerging technologies and potentially validate them for automotive applications," said Swamy Kotagiri, Magna's Chief Technology Officer. "We see great opportunity to form mutually beneficial relationships with inventors and entrepreneurs to help bring ideas to market."
Prizes to be awarded to the top three and grand prize winners include a Microsoft BizSpark Plus prize of $120,000 in Azure credits over two years; consultancy from Elektrobit, Microsoft, and Porsche Consulting; NVIDIA DRIVE PX 2 AI car computing platform; and EB robinos open software framework to speed the development of their autonomous driving functionalities. The Top Ten grand prize winner will also receive a cash award and an opportunity to attend the Extreme Tech Challenge (XTC) held on Sir Richard Branson's private estate, Necker Island.
All finalists for the competition will receive exclusive access to AutoMobility LA, exhibit space inside the Technology Pavilion, and tickets to the 2018 NVIDIA GPU Technology Conference on AI and self-driving cars. The startups will also be recognized in front of 25,000 media professionals, influential thought-leaders, automakers, tech titans, designers, developers, investors, dealers, government officials, analysts, fellow startups, and more. Finalists will have full access to all major networking events and receive an invitation to a VIP reception with the AutoMobility LA executive team, Advisory Board members, top investors, and industry executives.
At this year’s event, in conjunction with the Top Ten prizes, the best automotive startup using AI will be announced. NVIDIA will present the winning company with an NVIDIA DRIVE PX 2 AI car computing platform and EB robinos open software framework.
The Top Ten Startups will be selected from the pool of applicants by a panel of judges comprised of top executives from Elektrobit, NVIDIA, Time Inc.'s The Drive, Porsche Consulting, and Microsoft, as well as the LA Auto Show executive team. Previous finalists, such as Spatial.ai and HAAS Alert, have gone on to receive significant funding rounds after participating in the competition.
Once the Top Ten Startups have been selected, this team of jurors will go on to narrow the list of ten to three company finalists, followed by determining the grand prize winner. The grand prize winner will participate in an advisory session with the judges during AutoMobility LA and receive significant prizes to help further grow their business.
Due to the high volume of applications for this year's Top Ten competition, AutoMobility LA has extended the submission deadline until Friday, August 11. For more information or to apply, visit www.automobilityla.com/top-ten-automotive-startups.
AutoMobility LA 2017 will take place at the Los Angeles Convention Center Nov. 27-30, with manufacturer vehicle debuts intermixed. LA Auto Show 2017 will be open to the public Dec. 1-10. For more information about AutoMobility LA, visit http://www.automobilityla.com/.
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