Faqs for Fintech Challenge | Bizofit Innovation Platform

Faqs for Fintech Challenge

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01- Will there be a demo day where the startups will be required to showcase their solutions?

  • Yes. The demo will be scheduled in the month of April, date for which will be announced shortly. Tentatively, this would be in the 2nd half of April 2018

02- What will be the location for the demo day?

  • The Demo day will be conducted in Mumbai

03- What would be the location of the Proof of Concept (PoC)?

  • The PoC will be carried out in Vizag, Andhra Pradesh

04- Will the PoC be paid for?

  • This will entirely depend on the negotiations between the shortlisted startups and the corporates

05- If a shortlisted startup prefers to perform the PoC from their own base office instead of Vizag, will that be accepted?

  • No. As, the location for the PoC being Vizag is a mandate for the program, the POC would necessarily have to be executed from Vizag. Office space will be provided for operations in Vizag. A startup having difficulty to work out of Vizag may have to forego their offer

06- Will the PoC contract be between the startup and Andhra Pradesh government?

  • The PoC contract will be between the startup and the corporates only

07- What will be the duration of a PoC?

  • The duration of the PoC will be between 30- 45 days depending on the scope

08- What happens if the PoC is not completed in 45 days?

  • The extension will be given on a case to case basis

09- Will there be a full scale implementation post completion of a given PoC?

  • At discretion of the associated corporate partner, there could be a full scale implementation project offered to the startup involved. However, this will not be part of the initial contract and will be assessed only after completion of the PoC

10- Who should participate?

  • Any startup, which has capabilities to address a given use case through their solution offerings

11- Is there a registration fee?

  • No, there is no registration fee

12- Does registering for the event ensure participation for the Demo day?

  • No. Once the startups have applied for the event, they will be screened by an internal panel. Post the screening, the shortlisted startups will be invited for the event

13- What will be the criteria for Evaluation?

  • The startups will screened based on 3 parameters viz., Solution Fitment, Product Maturity, Team Credentials

14- Is there reimbursement for travel/accommodation?

  • No reimbursement for travel or accommodation will be provided

Shortlisted Service Providers that would be asked to submit Proposals/ Quotes