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.
1. The startup must have a ready and validated product for the specific challenge/focus area
2. Must have a registered entity in India on or before 31st March 2020.
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 our 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 our customers is a key focus area as we 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.
Awards:-
Paid Pilot/PoC Opportunities with Aditya Birla Group Businesses.
Non-Fiscal Incentives
1. Industry Mentorship
2. Co-Development Opportunity
3. Incubation Opportunity
Deadline:- 04-02-2022
