Deadline: 4-Feb-22
The Bizlabs AI Innovation Challenge by Aditya Birla Group is a program for innovative product-startups in fin-tech and retail to apply for specific business focus areas and get an opportunity to work with Aditya Birla Group businesses at scale.
BizLabs is a unique platform by Aditya Birla Group that enables innovative businesses with the ability to solve real business challenges at commercial-scale gain market access by leveraging Aditya Birla Group’s reach and platform. Simply put, BizLabs encourages innovative solutions to address specific problem statements by leveraging advance capabilities.
Themes for Challenges
- Fin-Tech
- Retail
- Fashion
- Insure-Tech
- Reg-Tech
Problem Statement
- Customer Experience
- The FSI industry is moving to digital customer acquisition at a rapid pace where digital is emerging as one of the primary channels of distribution, mode of marketing, on-boarding and value-delivery as well. This necessitates building of a strong digital customer experience strategy and interventions to enable and smooth, faster and easier customer journey.
- BizLabs is looking for start-ups working in this area specifically within the FSI industry.
- Workforce Management
- Management of the workforce on shop-floors and in retail stores is an important area of focus for the businesses. Shop-floor productivity optimization, management of workforce attendance and critical job-rotation for minimizing production loss and improving worker productivity are two key challenges.
- BizLabs is looking for startups or a consortium of startups working in this area since this might require more than one specific technology to solve for. Other innovative solutions in workforce management are also invited.
- Medical Process (Pre-Issuance – Insurance)
- Before a health or life insurance policy is approved and issued to the customer, there is an extensive medical check-up process that is handled typically by a TPA provider.
- BizLabs is looking for startups in insure-tech or diagnostic-tech, who can help shorten the TAT for this pre-issuance process, can help bring in the right set of digital levers for smoother scheduling in tier 2/3 cities and can help reduce fraud and slippages in the process.
- Claims Settlement (Insurance)
- The claims process is one of the most crucial and time-critical moment-of-truth in the customer journey in insurance. Having a speedy, smooth, robust and yet fraud-proof system for claims hence is one of key focus areas.
- BizLabs is looking for startups in this space, who are building innovative products to help bring digital levers into the document processing, fraud detection and cashless claims processes.
- Store Of The Future
- Retail stores are changing, they’re moving from being a mere fulfillment channel to being a comprehensive user-experience centres.
- BizLabs is looking for startups building disruptive retail store products (in fashion) that can help understand offline consumers better, provide them a better experience in product discovery, delivery, payments and alterations.
- Customer Wellness (Insure-Tech)
- Building an ecosystem with the core objective of improving the health and well-being of the customers is a key focus area as they move towards becoming a more comprehensive insurance providers in the country.
- BizLabs is looking for startups in this area who are building umbrella products that engage and encourage customers to build healthier habits and focus on improving or managing existing conditions.
- Marketing Analytics & Intelligence
- Bringing in outside intelligence to the process of marketing (product, pricing, promotion) and enabling digital marketing efforts in the right direction is another focus area.
- BizLabs is looking for startups in the space who are building interesting products /solutions in retail/marketing intelligence.
Incentives
- Fiscal Incentives
- Paid Pilot/PoC Opportunities with Aditya Birla Group Businesses.
- Non-Fiscal Incentives
- Industry Mentorship
- Co-Development Opportunity
- Incubation Opportunity
Eligibility Criteria
- The startup must have a ready and validated product for the specific challenge/focus area.
- Must have a registered entity in India on or before 31st March 2020.
- The challenge is open for startups based outside India, however presence in India would be preferred.
For more information, visit https://www.startupindia.gov.in/content/sih/en/ams-application/challenge.html?applicationId=61b6fee7e4b0b13f63e855dd