Singapore India Hackathon 2023 Introduces Exciting Challenges in Fintech and ESG Sustainability
The highly anticipated Singapore India Hackathon, organized by the Ministry of Education, AICTE (All India Council for Technical Education), MoE’s Innovation Cell, and NTU Singapore, is set to showcase innovation and collaboration in its third edition. Announced on March 13, 2023, by Union Minister of Education Dharmendra Pradhan and Singapore’s Minister for Trade and Industry Gan Kim Yong in New Delhi, this hackathon focuses on two captivating themes: Fintech and Environmental, Social, and Governance (ESG) Sustainability. The grand finale promises to present groundbreaking solutions to critical issues faced by both nations and the world.
Prof. T G Sitharam, Chairman, All India Council of Technical Education (AICTE) said, ” The 3rd Edition of the Singapore-India Hackathon has once again demonstrated the immense talent and creativity of our young minds. This joint initiative between Singapore and India is a testament to the power of collaboration and the importance of technological advancements in addressing real-world challenges. I applaud the participants for their exceptional efforts in pushing the boundaries of innovation. ”
The grand finale of the Singapore India Hackathon will be held at the Indian Institute of Technology, Gandhinagar from July 14 to July 16, 2023. This exciting event will feature six carefully curated problem statements, three under each theme of Fintech and ESG Sustainability.
Participants will be challenged to develop innovative solutions addressing pressing concerns in trade connectivity, financial fraud detection, financial literacy, carbon footprint monitoring, sea level rise and coastal flooding, and food recycling optimization.
A total of 24 Indian students and 24 Singaporean students have been selected to participate in the hackathon, showcasing their skills, knowledge, and creativity. Additionally, 12 mentors from both India and Singapore will guide and support the teams throughout the event. The participating students and mentors will form 12 dynamic teams for Track 1, with each team consisting of two students from India and two students from Singapore. Each team will also have one mentor from each country, fostering a cross-cultural environment of collaboration and knowledge exchange.
Furthermore, 12 Indian startups and 12 Singaporean startups have been chosen to compete in Track 2, where they will directly address the six problem statements. These startups, comprised of teams consisting of one to three members, will compete for the top spot in their respective categories.
Exciting prizes in SGD and INR await the winners in both tracks. For Track 1, the student teams will compete for the following awards: First Prize – SGD 15,000 / INR 9 lakh, Second Prize – SGD 10,000 / INR 6 lakh, and Third Prize – SGD 7,000 / INR 4 lakh. In Track 2, the winning startups will receive: First Prize – SGD 20,000 / INR 12 lakh, Second Prize – SGD 15,000 / INR 9 lakh, and Third Prize – SGD 10,000 / INR 6 lakh.
The hackathon will conclude with a grand ceremony to honor the winners from both tracks. Track 1 will recognize the top three student teams, each comprising six members (two students from India, two students from Singapore, and one mentor from each country). Likewise, Track 2 will celebrate the achievements of the top three startups. In total, approximately 28 participants will emerge as winners from both tracks.
The Singapore India Hackathon 2023 serves as a testament to the strong bonds between Singapore and India in promoting technological advancements and addressing societal challenges. This prestigious event aims to cultivate a culture of innovation and collaboration, inspiring future leaders to tackle global issues with groundbreaking solutions.