INR 63 Lakh Cash Prizes Awarded to Winners of iCreate EVangelise’22, India’s Largest EV Innovation Challenge; Innovators Entered into Strategic Partnerships with Industry Leaders

● Innovators established Strategic Manufacturing Partnerships with industry leaders ● EVangelise‘22 is India’s largest EV innovation challenge with 1160 entries from 23 states & UTs ● 12 Winners and promising innovators receive INR 63 lakh in cash prizes ● 6 consolation prizes awarded to each category for TRL>4 and TRL<4 ● Top 3 winners with TRL>4 will receive INR 50 lakh cash each as incubation support to take their ideas to market

INR 63 Lakh Cash Prizes Awarded to Winners of iCreate EVangelise’22

Ahmedabad, December 21, 2022: iCreate (International Centre for Entrepreneurship and Technology), India’s leading innovation-based startup incubator, yesterday announced the winners of the EVangelise ‘22, the second edition of India’s largest EV innovation challenge. Upon technical evaluation and market relevance and implementation strategies, Gyrodrive Machineries, C Electric Automotive Drives and Fasmho Energy Systems. were awarded the top three positions in the TRL>4 category respectively. Six winners across two categories – TRL> 4 and TRL<4 received cash prizes of INR 10 lakh, INR 7.5 lakh, and INR 5 lakh, respectively, and six consolation prizes worth INR 3 lakh was also awarded. The top three winners with TRL>4 also received INR 50 lakh as incubation support, subject to agreed terms and conditions to each to take their ideas to market.

Cancrie, Vijigi Energy and INTAKT EV Hybrids bagged the top three positions in the TRL<4 category, respectively.

Congratulating the winners, Avinash Punekar, CEO of iCreate, said, “Having completed two successful editions, EVangelise has grown to become India’s largest and most awaited EV innovation challenge for innovators and startups. The enthusiastic response received for EVangelise’22 from industry leaders such as Dr. Piyush Desai, Co-founder and Vice President, Turntide Technologies; Mr. Chintan Vaishnav, Mission Director, Atal Innovation Mission, Chair Startup 20 Engagement Group;  and Mr. Srinivas Kudligi, GM, Aditya Auto Products & Engineering, highlights the potential of Indian innovators in solving pressing challenges for the global EV industry. We at iCreate are proud to partner with them in their journey and position India as a knowledge superpower in the EV space. I congratulate the winners of EVangelise’22 and look forward to working together to take their solutions to market.”

The aim of EVangelise’22 has been to put India on the global EV innovation map by identifying clean, low-cost, innovative technologies that solve the industry’s critical problems. As a truly inclusive and

diverse group, EVangelise’22 has seen participation from 1160 participants, including students, individual innovators, researchers, and institutions that have created promising solutions in the areas of battery safety and EV infrastructure. During the course of the bootcamp and the finale, innovators pitched directly to industry leaders and explored strategic partnerships. Industry leaders who supported, engaged and provided guidance to the innovators of EVangelise’22 included BPCL, Mahindra Logistics, Tata Stryder, JOY ebike, Turntide Technologies, and Rotomag to name a few.

The finale also saw distinguished speakers share insights and learnings with the innovators. These included Mr. Chetan Maini, Co-Founder of Sun Mobility; Dr. Piyush Desai, Co-Founder of Turntide Technologies; Mr. Chintan Vaishnav, Mission Director, Atal Innovation Mission and Chair of the Startup 20 Engagement Group; and Mr. H. K Mittal, Chairman, Startup India Seed Fund Committee.

In the TRL>4 category, the first place holder, Gyrodrive Machineries is a Bhopal-based startup, for creating special magnet-free, switched reluctance motors, with completely locally sourced components that eliminate dependency on imported magnets using rare-earth materials. C Electric Automotive Drives, a Cochin-based startup, won second place for their solution to bridge the gap in indigenous electric drive components in India. The third place was taken by Fashmo Energy Systems, a Bangalore-based startup, for their Smart Battery Management system to enable safe, efficient, and optimised working of the complete battery pack.

Commenting on the achievement, Eshan Dhar, CTO of Gyrodrive Machineries and the winner of EVangelise’ 22 said, “We are overwhelmed to be chosen as the Winner of EVangelise’22. We believe that our innovation on magnet-free switched reluctance motors will be the future of EV industry. This eliminates the need for rare-earth materials that are detrimental to the environment and makes India Atmanirbhar as these motors can be manufactured domestically. I express my heartfelt gratitude to the iCreate team for  mentoring us throughout the challenge and giving us a platform to showcase our innovation to some of the best minds in the industry. EVangelise’22 has proved to be a launchpad for aspiring entrepreneurs like us and we hope to work with the team at iCreate more closely moving forward to co-create solutions for the EV industry.”

Ratheesh Nair, CTO of C Electric Automotive Drives, the second-place winner of EVangelise’ 22 stated, “We are thrilled on being awarded the second position at EVangelise’22. Our innovation on indigenous electric drive components enables Indian electric vehicle makers to customise their motor controllers as per their requirements while also reducing costs by 40%. EVanglise’22 has been instrumental in showcasing this to top industry leaders and we have already received multiple orders and advanced discussions are on with some more manufacturers.”

EVangelise’22 took place over six months, during which startups and EV innovators from 23 states and UTs showcased their novel solutions for real-life challenges in the EV industry under three themes,  vehicle traction, energy storage, and vehicle infrastructure.