"This initiative is about how we leverage bright minds to come up with ideas that we are going to implement," Axis Bank CEO Shikha Sharma told ET. "We are seeing how we can use the organisational muscle of Axis to be able to implement some of those ideas," she said.
“Axis Moves” competition was conducted by the Axis bank which is India's third largest private sector. The competition was conducted in 16 campuses across the country and more than 2,352 students participated in the competition.
Axis Bank has provided seed funding of Rs 10 lakh to the winners of the inter-campus online gamified competition 'Axis Moves', the students of Indian Institute of Foreign Trade.
Rajesh Dahiya, group executive of Axis Bank said “Rs 10 lakh will be provided as seed money to develop the app and the bank's foundation will choose NGO partners interested in working in such areas”.
The winning ideas will be executed by the Axis Bank Foundation and a partner non-governmental organisation.
As part of the competition, students were asked to develop ideas around smart cities and the bank will now develop an app catering to:
- Urban mobility
- Water management
It will be done by bringing various stakeholders in these areas on a single platform.
"We took the smart cities ideas this year as this is one of the big macro themes the government is focused on. If we want urbanisation to happen in a disciplined fashion then we might as well build the right infrastructure," Sharma said.