Offering $100,000 prize pool for winning ideas; submit
through May 30, 2016
TROY, MI, March 30, 2016 /PRNewswire/ - Although
vehicle safety continues to improve, automotive innovation leaders
such as Magna International Inc. realize there's no time to rest.
Additionally, Magna recognizes that the effort to find the next
great safety innovation can come from anyone in any walk of
life.
Accordingly, Magna is launching the "Innovation for the Open
Road: Safer Mobility for the Future" contest, a competition which
challenges the public, inventors, creators and everyday commuters
to share their ideas on ways to further improve vehicle safety.
Through the public competition, Magna is looking for groundbreaking
ideas that it can help bring to the road to create an even safer
experience for drivers, passengers and pedestrians.
"Magna has a history of turning ideas into industry standards,"
said Swamy Kotagiri, Magna Chief
Technology Officer. "This contest is a great opportunity for
inventive minds to collaborate with us to bring their safety
innovations to market."
Participants are required to submit a 500-word essay describing
their idea by May 30, 2016, at
www.magnachallenge.com. The essay must describe an idea that has
the potential to improve vehicle safety. Qualifying submissions
will be evaluated by Magna and outside automotive-industry judges,
with the top seven entries announced on July
5. Those seven finalists will then pitch their ideas in
person on July 27 before a panel of
industry leaders and experts at Magna's U.S. headquarters in
Troy, Michigan, and will have the
chance to win part of a $100,000
prize pool, with the first place winner taking home $50,000.
In recent years, Magna has expanded its innovation activities to
include venture-capital investments in technology start-ups,
sponsorship of a technology accelerator, collaboration with
universities and technical colleges, as well as innovation
challenges for students and employees. For instance, the company
co-sponsors and works closely with Techstars Mobility, Driven by
Detroit, a mentorship-driven
technology accelerator company; has held student innovation
challenges at the 2015 and 2016 CES tradeshows, as well as the 2015
Frankfurt Motor Show; and engaged its global employee base in
company-wide innovation contests.
For additional information on Magna's Innovation for the Open
Road: Safer Mobility for the Future contest, including official
rules, and terms and conditions, visit
http://www.magnachallenge.com. To view the official contest video,
visit https://youtu.be/TaWLS-F38Y4
About Magna International
We are a leading global
automotive supplier with 305 manufacturing operations and 93
product development, engineering and sales centres in 29 countries.
We have over 139,000 employees focused on delivering superior value
to our customers through innovative products and processes, and
World Class Manufacturing. Our product capabilities include
producing body, chassis, exterior, seating, powertrain, electronic,
vision, closure and roof systems and modules, as well as complete
vehicle engineering and contract manufacturing. Our common shares
trade on the Toronto Stock Exchange (MG) and the New York Stock
Exchange (MGA). For further information about Magna, visit our
website at www.magna.com.
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SOURCE Magna International Inc.