New Delhi [India], Nov 16 (ANI-NewsVoir): Samsung India conducted the 7th edition of the annual Samsung Innovation Awards at the Indian Institute of Technology (IIT), Kanpur in association with Entrepreneurship Cell.
The first prize went to the team that included Kshitij Jaggi, Kumar Shivang and Rishabh Sahu who worked on a peer to peer financial transaction app using Blockchain technology in a distributed environment. The vision of the team is to enable financial inclusion of chit fund subscribers with Circle, a mobile ?rst solution for organisers to easily manage the members, bringing in transparency in the whole process and creating credit history for all Indians.
Insomniatec, comprising students Kaustubh Mundra and Sankalp Rastogi, won the second prize for proposing a project that uses an infra-red camera coupled with computer vision technology to detect drowsiness in a vehicle driver while in motion and provides in-time alerts.
One of the projects, Muskan Solid Waste, consisting Hari Shankar and co-founder Mewa Lal found a special mention at the awards. This is a start-up that converts organic waste into high yielding compost. The technique used reduces time for composting and produces more efficient manure compared to artificial fertilizers.
The awards were presented by Dr. Aloknath De, Chief Technology Officer, Samsung R&D Institute, India Bangalore (SRI-B). The winners were given cash prizes worth Rs. 2.5 lakh while the five finalists received merit recognition from Samsung.
Samsung Innovation Awards 2017 saw an overwhelming response, with eight teams getting an opportunity to present their ideas to the jury comprising Dr. Aloknath De from SRI-B and professors from IIT-Kanpur - Dr. Amitabha Bandyopadhyay from the Department of Biological Sciences & Bioengineering (BSBE), Prof. Sandeep Shukla from the Department of Computer Science and Engineering from IIT Kanpur.
Samsung R&D Institute Bangalore will engage with the award winners to further develop their innovations.
"Through the platform of Samsung Innovation Awards, we want to encourage students to work on innovative ideas in evolving areas of artificial intelligence, computer vision and IOT. When we see diverse and quality projects in these emerging technology areas, we can sense the pulse of our youth. Novelty of ideas, comprehensiveness in execution and impact of solution are yardsticks in selecting the winners. Samsung has been supporting deep-tech innovation at large and this year's event in IIT-Kanpur is one such initiative," said Dr. Aloknath De, Chief Technology Officer, Samsung R&D Institute, India - Bangalore.
Cutting-edge innovations were showcased at the competition. The innovative product ideas and solutions presented this year ranged from a cloud-based healthcare data management system to an intelligence platform for law enforcement and defence agencies.
"Innovation and entrepreneurship ought to become an integral part of institutions of academic and higher technical learnings. We must quickly transform into an innovation driven society where young minds understand societal needs, carve out opportunities and take calculated risks to become job creators and leaders. We are happy that corporates such as Samsung are coming forward to help us create the desired ecosystem at IIT Kanpur," said Sameer Khandekar, Associate Dean, Innovation and Incubation, IIT Kanpur.
The 2017 edition of the Samsung Innovation Awards was initiated at IIT-Kanpur campus six months ago through an open entry process, where students submitted their innovative ideas. The shortlisting process was led by professors from IIT-Kanpur and researchers from SRI-B, who also selected the eight finalists.
The final teams presented their ideas to the jury at the IIT-Kanpur campus. The winning project was selected based on the degree of innovation, feasibility, usability, relevance and overall impact on masses.
Conceptualised in 2011, the Samsung Innovation Awards seek to support and encourage young talent who have an innovative approach and look to improvise different systems and processes. Further, it aims to develop indigenous products and services for fulfilling mass needs thereby transforming lives and creating sustainable solutions for the benefit of the society at large.
The first edition was conducted at IIT Delhi and since then Samsung Innovation Awards have been held at other major IITs. The last edition in 2016 was held at IIT Bombay and had witnessed great interest and enthusiasm from students. Samsung continues to provide the next generation of Indian innovators and entrepreneurs an avenue to showcase and advance their engineering skill sets. (ANI-NewsVoir)