#MillionDollarIdea: Anand Mahindra offers Rs 6.2 crore ‘Rise Prize’ to build a driverless car and solar power kit

$16 billion conglomerate, Mahindra Group is getting ready to announce a new competition which will have a prize money of $1 million or Rs 6.2 crores. Named Mahindra ‘Rise Prize’, this new competition is being promoted to look for innovators in India who can build driverless car and an innovative solar powered kit. Mahindra will officially launch ‘Rise Prize’ on National Science Day on February 28, 2014.

This one surely is a #MillionDollarIdea. Competition will stimulate innovations and ideas in the minds of innovators at home where tackling the problem of both traffic stress and electricity outages are concerned. Driverless cars and do it yourself solar powered kits will go a long way in taking care of these constraints.

BheL90rCQAArfE9.png largeThe main objective of this competition is to stir up innovation and creativity in the minds of Indians while bring about a change in the overall mindset. The two challenges, one including the building of a driverless car will carry prize money of $700,000 while the solar DIY kit for households will come with a prize of $300,000.

First edition of competition will have a timeline of 24-36 months while it will involve submission of proposals, prototype creation and real world demonstration. A team of experts will be working with the aspirants, guiding them through the motions of getting their innovations on track.

Mahindra is the only Indian car manufacturer who has been working consistently over the years. Taking the step forward from concept to production speaks volumes about M&M’s quest to take electric vehicles to people. While associating with Reva was an important move, the journey is now progressive with Mahindra Reva showcasing a a new electric sports car ‘Halo’. A Verito electric car was on display too.

The journey to a cleaner tomorrow is further strengthened with Mahindra XUV500 Hybrid technology, the world’s first hybrid diesel manual SUV. Will a considerable part of this journey is still at the grassroots level keeping in mind conditions in India are not conducive to an electric vehicle environment just as yet, and government involvement has been low in this field.

Early last year, Mahindra Reva E20 was launched, and yes while sales haven’t been fantastic, it is heartening to see at least 1 auto manufacturer in the country make a continuous effort. Mahindra is also the only Indian automaker that will participate in the first ever FIA Formula E Championships. More information to be shared once Mahindra officially announces more details. Via