You will be rewarded for your products and solutions as a startup! Quite surprising and unbelievable, but this is true because Andhra Pradesh Govt has brought a platform in association with the US based firm that will set a global challenge for startups and will reward the winners. The US-based firm is founded by an India IT veteran, Bala Palamadai, with the name Bizofit. The firm is a crowd sourced innovative mediator platform for setting up the meeting of enterprises with tech companies.
This global challenge is planned in the form of road shows that would be held in Chicago, New York, San Francisco, Tel Aviv, Paris, London, Hong Kong, and Bangalore. According to a press release, a first road show was completed successfully in September. The challenge was organized by Fintech Valley Vizag, an initiative of Andhra Pradesh Govt for promoting business infrastructure and attracting investors into the state.
Winner to get 1 crore
The collaboration of Fintech Valley Vizag with Bizofit will finalize this contest on October 25th, with the presentation of 25 selected finalists. The winner will get a reward of $1.5 lakh (One crore) and the runner-up will get $ 1 lakh (Approx. Rs 70 lakh). Finalists of all categories should not be disappointed as all of them would get Rs 7 lakh each.
The Bizofit founder said that they are honored to be a partner to the Andhra Govt towards this exciting journey. He said that they believe that after this VIZAG will be positioned as ‘Virtual Innovation Zone Accelerating Growth.’
Next generation startups
JA Chowdary, Special IT Advisor to Andhra Pradesh CM stated that the Govt is committed to creating such a system of next generation startups and a talent pool that leverages growth upwards by enabling co-innovation.