The winners in the ‘$1 Million Global Startup Challenge’ were given away the prizes at the grand finale after they pitched their ideas on the final day of Vizag Fintech Festival, here on Thursday. IT Minister N. Lokesh who presented the mementos and prize money said that the State government had instituted the award to bring the best global startups to Fintech Valley Vizag to spread innovation culture. Thirty seven startups from more than 10 countries competed for the $1 Million grant. In agritech category the first prize went to 3Bar Biologics. The second and special recognition respectively went to Bee Hero and Fupple Drones.
Emergetech
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. Due to overwhelming response, an additional 11 startups were selected to pitch their ideas at the finale.
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 .
