Rules for $1 Mn Start-Up Challenge - VIZAG FINTECH FESTIVAL | Bizofit Innovation Platform

Rules for $1 Mn Start-Up Challenge – VIZAG FINTECH FESTIVAL

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Brief headings for the Official Rules for the $1 Mn Start-up Innovation Challenge are given below and will be displayed on Fintech Valley Vizag’s website and Bizofit platform.


Overall Timelines

Activities Timelines
Go live for Challenge on Bizofit Platform 20th July
Roadshows 7th-13th Sept
Last Date of Online Applications 20th Sept
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 4th Sept
Last Date for Startup Invitations for Presentation at Roadshows 5th Sept
Roadshow in 3 cities – San Francisco, Chicago and NewYork 7th-13th Sept

Rules for the Competition

Please read these rules before entering the Competition. Participation in this Competition constitutes Entrant’s full and unconditional agreement to and acceptance of these Official Rules and represents that Entrant satisfies all of the eligibility requirements set forth below.

  1. Eligibility

    $1 Mn Start-up Challenge (the “Competition”) presented by the AP Government and Fintech Valley Vizag is open to early-stage companies with a tested, functional prototype in production or very close to being in production. Each eligible company that enters the Competition shall be referred to herein as an “Entrant.”

  2. Sponsors / Corporate Partners

    The Competition is sponsored by the AP Government and Fintech Valley Vizag (“Sponsors”).

  3. Entry

    Competition applications can be submitted on Fintech Valley Vizag domain ( or Bizofit platform ( (the “Competition Site”) See Competition Site for entry instructions. The application period begins at 2:00:00 pm IST on July 12th, 2018 and ends at 11:59:59 pm IST on Sept 20th, 2018 (“Competition Entry Period”). Startups which are interested in doing presentation at Roadshows in North America should complete their Application by 11:59:59 pm IST on Sept 4th, 2018. There are no limits on application per company. A one-page solution summary or pitch deck is required, and a video (up to two minutes in length) is optional. By entering, each Entrant and team member agrees to conform to the Guidelines and Restrictions.
    3.a Guidelines and Restrictions:

    – The entry must not contain material that violates or infringes any rights of any other party, including but not limited to copyright, trademark, patent, privacy, publicity or any other intellectual property rights;

    – The entry must not disparage Sponsor or any other person or party;

  4. Selection of Finalists

    Selected Entrants will be selected to proceed in the Competition to a live event (the “Demo Day”) to be held in Vizag from 22nd Oct -26th Oct, 2018 (“Finalists”). Finalists invited to attend the Demo Day will be chosen from among the Entrants by the Sponsors or their representatives or agents on or about week 4 of September, 2018.

    Finalists will be notified via email on or about Sept 30th, 2018.
    Winning teams will be notified at the Demo Day on 25th Oct, 2018.

  5. Travel

    Finalist Entrant will be invited to participate in the Demo Day in Vizag at their own expense.

  6. Demo Day and Grand Prizes

    Once in Vizag, the Finalist team members will pitch their product or service for five (5) minutes to a panel of independent judges who will determine winning teams. Each Finalist’s pitch will include a demonstration of the product or service and a live question/answer session with the judges. The winning teams will be selected based on their presentation, product or service, and business model.

    $250 K award in total to three winners of each Track and $10,000 award for 25 finalists

  7. Competition Results

    A list of the winning teams will be posted on or on or about 6PM on Oct 25th, 2018.

Please Attach any Files or PPT here

Attachment Attach your Solution PPT or Files here

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