L&T Technology Services Limited (LTTS) a pure play R&D services company has launched a nationwide initiative to offer a platform to engineering students to work on real time technology challenges and engineering problems faced currently by businesses. The initiative termed as 'TECHgium' will offer opportunities to engineering students to work on futuristic technology ideas. The company has invited students from top engineering colleges of the country to work on projects and Proof Of Concepts (POC) to address the current needs and challenges faced by the customers of LTTS.
More than 900 colleges have registered fore TECHgium and close to 170 have confirmed and signed a Non Disclosure Agreement (NDA) with the company. Around 10,000 students had registered and around 5000 students have singed the (NDA) with the company for the initiative. The grand finale of the contest will be held in Bengaluru in April and the top three teams will get a cash prize starting from Rs 3 lakhs to the winning team, Rs 2 lakhs to the team securing the second position and Rs 1 lakh to the team coming third. The participants are also likely to be eligible for absorption into the company based on the merit of their solutions.
“Every year on an average we hire around 1000 to 1500 new engineers in our company and this can be a perfect platform for us to look for potential candidates to be absorbed by our company. This platform will help us bring together our customers, academia and students and will also trigger new age innovations conceptualized by fresh minds. This will also help in the creation of a new breed of associates who have niche engineering skills and capabilities,” said Dr Keshab Panda, CEO and Managing Director, L&T Technology Services.
The company has also identified a jury for the initiative and the final round of the event will have demonstration of Proof of Concept wherein the final shortlisted candidates will be required to develop a POC or a Prototype of their solution into a technology framework giving the necessary details.
Interestingly LTTS is an innovation driven company and its employees have filed more than 171 patents both in India and abroad. 60 percent of the company's revenue's come from the US market and the rest of the revenue from regions such as Europe, Japan, India etc. Altogether the company has more than 10,000 employees and is present across multiple locations across the world. The company offers design and development solutions across various industries such as Industrial Products, Medical Devices, Transportation, Telecom and Hi-tech and the Process Industry. The company serves over 50 Fortune 500 companies and provides solutions in the areas of Mechanical Engineering Services, Embedded Systems and Applications, Engineering Process Services, Machine to Machine and Internet of Things etc.
Interestingly in July 2014, L&T Technology Services had acquired certain assets and liabilities of Dell India and in November 2014, the company acquired certain of the assets and liabilities of Dell U.S.A., which added three delivery centres in the U.S. to its portfolio. These acquisitions strengthened the company's global research and development position in the transportation segment, and enhanced its talent pool with the addition of more than 200 engineers to its workforce.