During the IAA 2013 Motor Show in Frankfurt, Germany, Valeo launched the Valeo Innovation Challenge. The contest is open to engineering students across the globe. In teams of two to five members, students will present an innovative project focused on the automotive industry. The competition will be narrowed down to 20 teams after this initial presentation, and the remaining teams will be given €5,000 to put their ideas into practice and build a functioning demonstrator. The three finalist teams will present their projects to the Challenge jury, chaired by Valeo CEO Jacques Aschenbroich at the 2014 Paris Motor Show. The winning team will take home €100,000.