Fintech Innovation Challenge 2022 by Govt of Andhra Pradesh [Prizes Worth Rs. 50 L]: Apply by Oct 20

Applications are invited for Fintech Innovation Challenge 2022 by Govt of Andhra Pradesh. The last date of application is 20 October.

About the Challenge

AP Innovation Society (APIS) in partnership with APCFSS & FinBlue STPI CoE, Chennai, is launching the “FINTECH Innovation Challenge” for scouting innovations and start-ups engaged in using emerging technologies such as Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML), Data Science, Analytics, Smart Decision tools, Blockchain & Robotics to democratize financial services in the state by way of improvement in the existing procedures and identification of bottlenecks and gaps that can be addressed primarily in the stated thematic areas.

The goal of this challenge is to bring together stakeholders from the Indian start-up ecosystem, such as entrepreneurs, industrialists, investors, experts, government, and aspiring start-ups, to test, refine, and validate their solutions.

The problem statements are devised in close communication with the State Government Departments and industry partners for the start-ups to showcase their capabilities in these emerging technologies.

Who can apply?

If you are a start-up, an early-stage organization or working in collaboration to solve problems in the FINTECH Sector, you are eligible to apply meeting the following requirements :

  • Demonstrating the existence of a legal structure: Company should comply with the start-up definition as defined by DPIIT at http://startupindia.gov.in
  • Products/ Services should not violate/ breach/ copy any product already launched and/or copyrighted or patented
  • IPR/ Patent registered for the product (if any) should be owned by the nominating Indian company
  • The product/ Prototype/ MVP submitted should have been designed and developed in India

Participants will have to come up with solutions that can be called ‘innovative’, ‘radical’, ‘unconventional’ or ‘out-of-the-box’. The solutions provided should be thoroughly researched, must not include any sort of plagiarism, carried out as a student effort with a feasible work plan and should be presented with required deliverables.

Important dates

Submission

Interested candidates can apply online via this page.

Awards

Apart from cash incentives of up to INR 50 Lakh distributed among Winners, 1st Runners and 2nd Runners teams the selected start-ups will also get a chance to get incubation, mentoring, access to funding schemes & procurement support for prototyping as well as piloting opportunities in the state.

Click here to view the official notification of Fintech Innovation Challenge 2022 by Govt of Andhra Pradesh.

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