Mumbai: Axis Bank, the country’s third largest private sector bank, launched the largest crowd-sourcing competition, ‘Future of Jobs in India’, seeking ideas from young minds. The competition, under the aegis of ‘Axis Moves’, is open to all Indian citizens in the age group of 18 to 30 years. Participants, in teams of 2, can select any sector where they have identified a challenge or where they see an opportunity, and present their idea in a 750 word write-up, to be submitted online.

Post the submission of ideas, the shortlisted 180 contesting teams will be invited to present their business plans that will be judged by an eminent panel. The successful 50 teams will be a part of a boot camp in Mumbai where they will be evaluated on a predefined set of parameters. The Grand Finale will feature the top 15 teams who will make a final presentation to the jury.

The bank said in a statement that the winning teams will be awarded prize money of Rs 25 lacs, Rs 15 lacs and Rs. 10 lacs, respectively, including Rs 5 lacs each as seed funding for the start-up.

Rajesh Dahiya, Executive Director, Axis Bank, said, “Technology is reshaping the world as we know it and the dynamics of every sector and industry are changing faster than ever. The skills of yesterday will be obsolete tomorrow. However, there is immense potential for our country to overcome this challenge and scale greater heights by imbibing new skills that are emerging in all spheres such as cloud computing, artificial intelligence, big data & crowd sourcing, to name a few. We are therefore happy to launch ‘Future of Jobs in India’, a platform for the youth to ideate on implementable, sustainable and scalable solutions for the future.”

Participants can register for the competition online at https://www.axismoves.co.in/users/sign_up . The Idea can be related to any sector and should be submitted online, before 15 Feb 2017.