$1 Mn Challenge – VIZAG FINTECH FESTIVAL by Fintech Valley Vizag, an initiative of Government of Andhra Pradesh

$1 Mn Challenge – VIZAG FINTECH FESTIVAL by Fintech Valley Vizag, an initiative of Government of Andhra Pradesh

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    Estimated Cost:

    Huge Project ($1,000,000 - $10,000,000)

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    Average Cost:

    No estimated average cost for this Innovation Challenge.

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    Posted on:

    19th July 2018 8:29 AM

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    40 days, 8 hours, 6 min

$1 Mn Start-up Challenge Discussion & Communication
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Innovation Challenge Description
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Innovation Challenge Description

Fintech Valley Vizag – an initiative of AP Government – is conducting a $1 Mn Challenge as part of “VIZAG FINTECH FESTIVAL” to enable Startups to showcase their solutions and to get a chance to win $1 Mn in funding.

$1 Mn Challenge starts on 20th July 2018 and will conclude with presentations by Finalists on 25th Oct 2018.We are inviting applications from startups globally in the following Tracks – Fintech, AgriTech and EmergeTech.

$1 Mn Challenge Program Structure:

The first step is to Apply for the Challenge online by 30th August 2018. Additional details are given below:

  1. Apply online for the $1 Mn Challenge:- Any individual who is co-founder or CTO or authorized representative of a technology start-up within the suggested tracks can apply. Startups can apply online in the application form given below after the program structure details. There is no fee for applying to the $1 Mn Start-up Challenge.Incomplete application forms will be automatically disqualified. No application will be reviewed where the information about the startup is incorrect. Last date for Online Applications will be 30th August 2018.
  2. Presentation at Roadshows:- We are conducting Roadshows globally so that Startups can pitch and showcase their products in front of panel of corporate partners and investors. Roadshows will be conducted globally in 8 locations including London, Paris, Tel-Aviv, HongKong, Bangalore, San Francisco, Chicago and NewYork.Selected Startups will be invited to present at the Roadshows. Last date for the Application to present at the Roadshows will be 30th August 2018.Startups that are not able to present at the Roadshows for any reason can still be selected as a Finalist based on their online applications.
  3. Selection and Screening of Startups:- A panel of judges will screen the application and select the Finalist. Each startup will be scored on several factors including but not limited to their Business Model, IP, Team and willingness to setup a presence in Vizag post the event. Last date for the announcement of 25 Global Finalists is on or before 3rd Oct 2018.
  4. Travel for Finalists:- We do not provide travel reimbursement to the selected finalists. Each finalist startup will travel on their own and send at least one person from the company to attend the conference and to present on the Demo Day.
  5. Demo Day at Final Event:- Demo Day for finalists will be conducted on 25th Oct, 2018 at Vizag. On the Demo Day, 25 selected Finalists will pitch their startup to win the Final Award and Prize Money.
  6. $1 Mn Challenge Winners’ Announcements & Awards Ceremony:- $1 Mn Start-up Challenge winners will be announced at the Awards ceremony which will be held on 25th Oct, 2018 duringVizag Fintech Festival.
  7. Confidentiality:- All information about the Judges, their associations and scoring patterns and information related to selection process will be held confidential. Each Judge will work independently and will not know the scores or identities of the other judges. Judges are selected by invitation only.
  8. Timelines

    Overall Timelines

    Activities Timelines
    Go live for Challenge on Bizofit Platform 20th July
    Roadshows 7th-13th Sept
    Last Date of Online Applications 30th August
    Invitation to Finalists for Vizag Fintech Festival 30th Sept

    Roadshows Timelines

    Activities Timelines
    Launch Roadshows on Bizofit Platform 20th July
    Last Date of Application for Startup Presentation at Roadshows 30th Aug
    Last Date for Startup Invitations for Presentation at Roadshows 5th Sept
    Roadshow in 3 cities – San Francisco, Chicago and NewYork 7th-13th Sept

Why Participate?

  • A coveted “Winner” or “Top Start-up” (Finalist) recognition.
  • Prize money for two winners of each track:
    • $150K as First Prize
    • $100K as Second Prize
    • $10,000 award for 25 finalists
  • Access to VCs and US Enterprises to pitch your story.
  • Exhibit in the start-up expo at the conference.
  • A five-minute video featuring the finalist or winner will be uploaded to the website for public viewing.
  • 16 Week resident program with free co-working space.
  • Market access to customers from partner financial institutions.
  • Guided support from key industry experts, specialist in VC community.
  • Demo day to show the start-ups progress to corporates, investors and FinTech networks.

Please read RulesTracks, Roadshows and Timelines and FAQs for the Innovation Challenge. Interested Startups are invited to apply using the Application Form below:

Please click on following links for more roadshow details :- Chicago, New York, San Francisco

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