Mumbai FinTech Festival - Innovation Challenge



The Government of Maharashtra is introducing the 'Innovation Challenge' in the economic capital of India, Mumbai for startups to demonstrate and explore the capabilities of leading financial technology players from India and around the world who will pit their skills and solutions against each other. Early-stage, as well as mature startups from across the globe, are invited to demonstrate FinTech solutions on specific themes mentioned below. Selected applicants to compete for the chance to receive recognition and prize money at the Mumbai FinTech Festival (MFF) on June 2 & 3, 2018.  MEDICI is the Innovation Challenge Partner for the program.


The last day for accepting applications for MFF is 21st May 2018. Please find the detailed agenda for the event here.


During the program, the top 20 selected teams will showcase their solutions for any one of the following specific problem statements/themes:


Credit Score/Lending (Retail/SME)

 • Alternative Credit Decisioning/Scoring

 • Rural Agri Lending 

 • Supply Chain Automated Lending platforms



• eKYC

• Regulatory Reporting

• Anti-money Laundering


• Direct Benefit Transfer

• Eligibility for government financial schemes

• Land record registry using Blockchain

• Asset tracking and Supply Chain Management solutions for excise items, civil supplies, medical supplies


Financial Inclusion

 • Savings platform for informal sector 

 • Financial literacy & access – financial planning tools, mobile banking/payment platforms

 • Platforms Leveraging Geographical Imaging Satellite / Drone Tech / Other technologies in the rural sector

 • Marketplace for Agriculture products

 • Lending based on warehouse receipt using Blockchain


Eligibility Criteria : 

  • Early-stage or matured startups with a MVP addressing any one of the above problem statements.
  • Startups should have a working model already with one or more clients anywhere in the world.
  • Applying startups can be located anywhere globally and should have been live for at least a year


Kindly note to furnish all required information as requested. They will be used for evaluation.

Please refer to the Terms and Conditions here.  

For any clarifications/queries, please feel to contact mohit@gomedici.com.

Type of engagement:
Innovation Challenge
Main sponsors:
Government of Maharashtra
Incentive for startups

Benefits & Awards: 

The jury will identify top 3 start-ups and there would be a monetary incentive apart from the global recognition

1st  Prize - Rs. 2.00 Lacs

Runners-up - Rs. 1.50 Lacs

2nd Runners-up - Rs. 1.00 Lacs

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