“Longevity Economy Cohort” will focus on “Integrating Age-Tech with financial services by adapting multi-dimensional elements such as AI, FinTech, BankTech, WealthTech, PensionTech, InsureTech, etc.
Longevity Economy Cohort Program
Sprint 13 - Longevity Economy Cohort
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#ifsca #apix #iima #fintech4longevity #acli
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In Partnership With
About Us
Problem Statements
Age-friendly financial products and services
Age-friendly financial products and services aiming at improving quality of life of older people.
Care & preventive age-friendly financial products and services that improve the quality of life of older people.
Age-Tech banking
Appropriate and innovative banking solutions for elderly population
Banking products, solutions and services suited to the needs of the elderly, use of AI for robo-advisory, and protection/prevention/mitigation against online frauds which is a vulnerable area for the elderly population wrt digital banking.
Cyber Silver
Cyber Security solutions for Senior population
Cyber Security solutions for Senior population
Health-Savings product
Innovative Savings products based on age analytics.
Indemnity-based solutions modelled on liquidity/saving requirements based on age analytics
Life-stage suitable insurance solutions
Innovative age appropriate Insurance solutions
Products offerings based on the life stage and health status of the elderly which may cater to holistic wellness, legacy creation, retirement planning, preventive care initiatives and document vaults, using artificial intelligence
New Savings solutions for older generations
Innovative age appropriate pension products.
Solutions akin to micro-pension, reverse mortgage etc. so as to ensure a stable fixed monthly pay-out for the elderly not covered under formal pension system.
Risk management solutions
Risk based financial products
Products that provide for layering of risk and reward depending on the risk appetite of the elderly
Silver Entrepreneurship
Product/solution facilitating silver entrepreneurship
Product/solution to facilitate silver entrepreneurship eg. entrepreneur loans for senior citizens (via whole life term policies/ stock/ bond portfolio or reverse mortgages)
WealthTech and InvestTech
Innovative Capital Market solutions catering to Longevity
Capital market solutions catering to longevity like longevity-linked bonds, longevity stock exchange & instruments etc.
Women in Investing
Innovative investment solutions for women
Investment solutions targeted at elderly women as women generally outlive men and this segment of the aging population presents a challenge as well as an opportunity.
Prize
Benefits for the Winners
• Direct entry into IFSCA Sandbox • Opportunity to avail grants under the IFSCA FinTech Incentive Scheme • Regulatory Guidance and hand-holding • Mentoring and guidance from Partner and Mentors
Eligibility
Entities/Teams satisfying any of the following eligibility criteria may submit their technology solution for participation in Hackathon through their Representative:
- All entities registered with Securities & Exchange Board of India (SEBI), Reserve Bank of India (RBI), Insurance Regulatory Development Authority of India (IRDAI) and Pension Fund Regulatory and Development Authority (PFRDA);
- All start-ups registered with Start-up India and meeting the criteria of a start-up as defined in the Gazette notification of the Department for Promotion
of Industry and Internal Trade dated February 19, 2019 or later versions; - The Companies incorporated and registered in India, if an individual is entering on behalf of a company these Terms are binding on such individual and the company;
- International Entities / Companies incorporated and regulated in Financial Action Task Force (FATF) compliant jurisdictions by a financial services or banking or capital market or insurance or pensions regulator.
FAQ
Am I eligible?
Entities/Teams satisfying any of the following eligibility criteria may submit their technology solution for participation in Hackathon through their Representative: 1. All entities registered with Securities & Exchange Board of India (SEBI), Reserve Bank of India (RBI), Insurance Regulatory Development Authority of India (IRDAI) and Pension Fund Regulatory and Development Authority (PFRDA); 2. All start-ups registered with Start-up India and meeting the criteria of a start-up as defined in the Gazette notification of the Department for Promotion of Industry and Internal Trade dated February 19, 2019 or later versions; 3. The Companies incorporated and registered in India, if an individual is entering on behalf of a company these Terms are binding on such individual and the company; 4. International Entities / Companies incorporated and regulated in Financial Action Task Force (FATF) compliant jurisdictions by a financial services or banking or capital market or insurance or pensions regulator.
Can I apply to more than one problem statement?
Yes, you can submit one proposal per problem statement. Incomplete entries may be disqualified.
Are there any other requirements?
You will have to agree to the Terms & Conditions of participation of Longevity Economy Cohort of IFSCA, the Codehack2023 and the APIX Terms of Use at the point of registration.
How will the winning proposals be selected?
Proposals will be reviewed and final proposals will be shortlisted by our Jury. The finalists will have to present before the Jury on the Demo Day.
Who owns the code developed during the hackathon?
Entities/Teams have full ownership of the solution proposed and any prototype that they build and host on the APIX Platform. The host of the hackathon and APIX have no ownership of your IP.
How do I get technical support?
To get technical help you can write to support@apixplatform.com
Must I be a registered company/firm to participate?
Kindly refer to question 1 above.
Can I request for a 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. IFSCA reserves all rights with respect to the event.