L&T Technology Services (NSE: LTTS), a leading global pure-play engineering services company has received a record-breaking response for the third season of TECHgium®, the Company’s popular industry-academia open innovation challenge. Students from over 270 colleges & universities across India submitted 19,000 applications for the current season, which represents close to a 200% jump from the 7,000 that registered in 2017, the inception year of TECHgium®.
Participation from the premier engineering institutions also more than doubled in the third season of the nationwide innovation challenge. Students from prestigious colleges and universities, including 10 IITs, 6 NITs, 4 IIITs, BITS Pilani, Jadavpur University, VIT University and Anna University, got an opportunity to work on challenges shared by LTTS’ global customers cutting across new age technologies such as Artificial Intelligence, Machine Learning, Blockchain, Deep Learning, 5G, Remote Asset Performance Management, Video Analytics and Solar Technology among others.
The competition was held in phases across Mumbai, Baroda, Hyderabad, Bangalore and Chennai from 28th to 31st January, where a total of 156 shortlisted teams pitched their solutions, to the challenges assigned to them, to a panel comprising of industry experts. The finalists of the presentation round will be mentored by LTTS’s Subject Matter Experts (SME) to implement and develop Proof of Concepts (POC).
LTTS’ TECHgium® is a futuristic technology-based innovation event for engineering students, from across top colleges and universities in India. The initiative has become popular among engineering students with enthusiastic participation year on year. Through TECHgium®, LTTS aims to encourage young engineering students toward conceptualizing solutions for real time challenges faced by global enterprises.
LTTS also helps students incubate and further develop their POCs. Notably, 62 students who had developed viable solutions in 2018 edition have been absorbed by LTTS and are further building on the concepts to take it to the customers as a solution. As part of the initiative, more than 2,000 abstracts for 52 industry challenges were framed by experts from leading global companies.
Dr. Keshab Panda, CEO & Managing Director, L&T Technology Services Limited said, “For enterprises operating in the age of Industry 4.0, finding the right talent with ready-to-deploy technology skillsets is crucial. TECHgium®’s 3rd edition received a record-shattering response from the student community across India, reflecting its success as a platform which brings the academia and industry together and charts a definitive career path for promising young engineers. The growing popularity of the initiative is also a testament that engineering students in the country are growing conscious of the fact that they cannot simply wait for organizations to train them and that they have to make themselves industry ready even before they graduate. On that note, I would like to wish every success to the participants and look forward to their exciting next-gen solutions to industry challenges.”