Andhra Pradesh Govt. Announces Winners of the $1M Global Startup Challenge in an Exciting Grand Finale

37 startups from over 10 countries competed for the USD 1 Million Dollar (~INR 7.5 Crore) grant from the Government of Andhra Pradesh at the just concluded Vizag Fintech Festival held from October 22-26, 2018.

The Government of Andhra Pradesh, in strategic collaboration with its challenge partners, DCF Ventures and Bizofit have selected two startups each from Fintech, Agritech and Emergetech, as winners of the first ever $1 Million Global Startup Challenge.

Agritech: 1st prize – 3Bar Biologics, 2nd prize – Bee Hero, Special Recognition – Fupple Drones;

Emergetech: 1st prize – Matisoft Cyber Security Labs, 2nd prize – Desolenator, Special Recognition – Nanowear

Fintech: 1st prize – NeoEYED, 2nd prize – Lapetus Solutions, Special Recognition – Asset Vault

24 startups have won $ 10,000 (~INR 7,50,000) each while two were tied for the award of $ 5,000 each (~INR 3,75,000). Due to the superior quality of the startups and the overwhelming response, an additional 11 startups were selected to pitch at the Grand Finale. All the 37 startups had an opportunity to exhibit at the Vizag Fintech Festival to more than 1500 global delegates comprising of VCs, angel investors and corporate partners.

All the winners and finalists were awarded prizes by the Hon’ble IT Minister of Andhra Pradesh, Sri. Nara Lokesh. In addition, Mr. John Ason, a prolific angel investor from the US, who was part of the jury made an investment of USD 25,000 each in four (4) startups namely Algosurg, Intellolabs, Rewire, and Orbo.

Read the original letter by The Terry Group here.