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A total of 40 start-ups selected for participation in the finale of $1-million Fintech Challenge instituted by the Andhra Pradesh government have agreed to launch operations in Fintech Valley here, according to JA Chowdary, IT adviser to the State government.
Fintech fest
He was briefing the media here on Wednesday on the Fintech Festival to be held here from October 22 to 26. He said 25 companies were shortlisted to participate in the Challenge from among several start-ups in the roadshows conducted in India and abroad.
The remaining 15 start-ups will attend and participate in the grand finale here on October 25 at their own expense.
“The $1-million Challenge is proving to be a huge draw and fintech companies from across the globe are participating in the event,” he said.
He said the State was making all efforts to create a sustainable ecosystem here for fintech companies for the past two or three years.
A total of over 1,000 applications were received from across the globe. After careful screening by a panel of experts, 180 plus global start-ups pitched across various locations. They will showcase their innovations at the Demo Day.
“The start-ups were selected on the basis of their business model, IP, team and willingness to set up their offices in the city after the festival. We are sure our earnest efforts will bear fruit and Vizag will become the foremost fintech hub in the country,” Chowdary said.
Humanoid robot
Chief Minister N Chandrababu Naidu will inaugurate the festival on October 22. The world’s first humanoid robot Sophia will address over 2,000 delegates, with representatives from 15 countries on the future of fintech. The robot will also take a few questions from the Chief Minister and State IT Minister Nara Lokesh on October 23.
Prominent speakers include Madnesh Kumar Meena, Joint Secretary, Ministry of Finance; Raj Kumar Rao, Chairman, Union Bank of India; and RS Sharma, Chairman, Telecom Regulatory Authority of India.
Prominent international speakers include Chris Bates, Secretary, Bitland Global; David Soto, President, Government Blockchain Association in Lima; Lynne Laube, COO and co-founder, Cardilytics; Will Pritchett, global lead, InsurTech, KPMG, London; and Uzi Scheffer, CEO, SOSA.
During the conference, a CxO golf tournament and a roundtable of CEOs with the Chief Minister will be conducted.
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