Vijayawada: Six teams make it to innovation challenge in Tel Aviv round
Vijayawada: The Andhra Pradesh Innovation Society (APIS), the innovation wing of Andhra Pradesh government, in association with DCF Ventures and Axis Innovation has selected six teams from 30 participating challengers in Tel Aviv, Israel, to solve real-world use cases on local water purification, cyber security, agricultural supply chain and digitising water infrastructure from the industry, government departments and society in AP.
The winners were selected at the final presentation session in front of a jury and the award ceremony was held at the Tel Aviv stock exchange in the presence of first secretary (commerce) of the Indian Embassy in Israel Mr Pramod Sharma, APIS CEO Winny Patro (who joined via web conference).
The winning solutions were Non-GM seed treatments which induce crops to grow well in high salinity soils or when irrigated with brackish water, a cloud-based supervisory control and data acquisition (SCADA) system, a cyber security solution for protecting brands and public identities against disinformation, in order to avoid financial and reputational damages etc. The challenge will be selecting another three teams from its Indian leg on February 2-3 in Visakhapatnam for solving real world problems.
“I am happy to see such huge response in Tel Aviv. I am sure the advancement in technology and expertise from Israel will benefit the people of Andhra Pradesh,” said APIS CEO Winny Patro.
The total prize money for SOCH: India-Israel Hackathon is $130,000, i.e. $65,000 each for winners from India and Israel respectively. Out of the $65,000 for winners from Israel, $12,500 will be awarded as cash prizes to start-ups to visit AP and engage with government departments to further evaluate their solution and market fit; while the remaining $52,500 will be split in 3:2 ratio between the top two start-ups and will be used for implementation support.
Likewise, of $65,000 (about Rs 50 lakh) for winners from India, Rs 6,00,000 will be awarded as cash prizes of Rs 1,50,000 each for four promising entries; remaining Rs 44,00,000 will be split in the 5:3:2 ratio between the top three start-ups and will be used for implementation support.
