Anyone - Individuals (eighteen years and above) and enterprises (including startups) from all geographies are welcome to apply under this global challenge. It is especially suited for enterprises (including startups) with ready solutions that can be piloted with limited additional development and integration efforts. However, all relevant and impactful solutions will be considered irrespective of the stage.
How many problem statements can I apply for?
You may apply for more than one category if you fulfil all the criteria set out in each category.
Does my solution need to focus exclusively on one problem statement?
No, your solution can aim to address the needs covered by more than one problem statement. We are looking at the uniqueness of the proposition and feasibility of the business model alongside to achieve the desired goal.
Can I submit multiple entries?
Yes, we encourage you to respond to all problem statements that you think you might have a solution for. Multiple entries would be considered, and more than one of your solutions might be selected.
What is the format of the event?
Applications will be received only through APIX platform. The Hackathon shall run in two phases with Ideation in the first phase and Solution Development in the second phase.
RBI will shortlist the most promising ideas for the second phase wherein the participants will have to submit the working solution/running code/prototype, on APIX platform.
Wherever needed, these solutions may be provided with mentoring, technical and regulatory support so that demo-able products can be created.
The winners will be selected from the shortlisted products based on the product pitch and demo towards the end of the program.
Do I need to be a registered company to apply?
You need not be a registered firm for participation in the event.
Do I need to submit a solution after being shortlisted?
Yes, the shortlisted entities need to submit a working solution which would be evaluated to decide the winners
How will the prize be disbursed?
The prize will be disbursed in Indian Rupees (₹) to the winners as per Reserve Bank of India policies and will be subject to tax deductions as applicable in India.
USD 1 is approximately ₹ 74 and thus, the winner and runner-up prize comes down to approx. USD 54000 and USD 27000 respectively
Will the information shared be kept confidential?
Information provided to us through the online application will be shared only on a need-to-know basis within the relevant event and evaluation teams. The information provided will be retained by us post the program for audit purposes and will be shared with an external party only upon obtaining explicit permission from the applicant / authorized team member.
Can I request for re-evaluation in case I am not satisfied with the Judges' decision?
NO. You cannot request for re-evaluation. The decision of the judges shall be final and binding. Reserve Bank of India reserves all rights with respect to the event.
Are the participants allowed to leverage their own IDEs?
The participants can choose to develop the solution via APIX or use their own IDEs. But if they are using their own IDEs then they will have to bring the code, compile it, run it on APIX, and present the running code before the judges for evaluation.