The winners in the ‘$1 Million Global Startup Challenge’ presented the prizes at the grand finale after they pitched their concepts on the final day of Vizag Fintech Festival on Thursday.Mementoes and prize money presented by IT minister N. he expressed that the state government had instituted the award to bring the best global startups to Fintech Valley Vizag to spread innovation culture. From 100 countries 37 startups competed for the $1 Million grant. In agritech category second and special recognition respectively went to Bee Hero and Fupple Drones, the first prize went to 3Bar Biologics.
Emergetech category, the first prize was bagged by Matisoft Cyber Security Labs. While Desolenator received the second prize, Nanowear was given the special recognition award. In fintech category, the first prize went to NeoEYED and second prize to Lapetus Solutions. Special recognition was bagged by Asset Vault. Two startups each from fintech, agritech and emergetech were chosen winners of the first-ever $1 Million Global Startup Challenge. Twenty four startups won $10,000 each while two were tied for $5,000 each. At the final 11 startups were selected to pitch their ideas due to the great response.
All the 37 startups had exhibited ideas before 1,500 global delegates comprising of venture capitalists and angel investors. Among others, John Ason, an angel investor from the U.S., who was part of the jury, made an investment of $25,000 each in four startups .