Scheduled for August 24 and 25 at its Hyderabad campus, the Gandhi Institute of Technology and Management (GITAM) is poised to host the culmination of GITAM SmartIDEAthon 2023. This significant event will see participants vying for supremacy in four distinct categories: food and health, STEM (science, technology, engineering, and mathematics) toys, sustainable fashion, and frugal innovation.
The competition has garnered noteworthy attention, drawing a total of 1,009 eager participants from esteemed educational institutions nationwide. The event\’s collaboration involves Startup India and Northeastern University, Boston.
Notably, frugal innovation has emerged as the most popular category, receiving an impressive 489 applications. Within the food and health category, there were 310 applications, while sustainable fashion and STEM toys attracted 134 and 76 applications respectively, as outlined by the university. The journey ahead for these participants entails mentorship by GITAM for both the victors and the runners-up.
The champions stand to receive a substantial cash award of Rs 2,00,000, coupled with a two-week sojourn to Boston. The runners-up, in addition to a trip to Boston for two team members, will be bestowed with a Rs 10,000 prize. Notably, the most impactful business idea centered on social betterment will garner a cash prize of Rs 50,000 and a two-week excursion to Boston for one team member. Similarly, the best woman-led entrepreneurial concept will be honored with a cash award of Rs 50,000 and a two-week Boston visit for one female team member. Moreover, the recipients of the Leben Johnson People\’s Choice Award will secure a cash prize of Rs 50,000.
Offering insights into the initiative, Krish Nangegadda, Chief Innovation Officer at GITAM, expressed, \”SmartIDEAthon is designed to cultivate collaboration and networking amongst young minds. We are profoundly grateful for the invaluable backing provided by our partners and sponsors.\”
The selection process comprised initial evaluations of concise video submissions and presentations by venture leaders in the first round. Subsequently, 100 participants were shortlisted for the second round. These individuals underwent an online bootcamp and coaching sessions, leading to the progression of 32 teams to the semi-final round. The semifinals and grand finale are slated to unfold at GITAM\’s Hyderabad campus, where eight teams will ascend the stage to present their concepts to a panel of judges and a live audience in a theater setting.
