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IIFT wins Axis Bank competition

Axis Bank has provided seed funding of Rs 10 lakh to students of Indian Institute of Foreign Trade, who were the winners in the inter-campus online gamified competition ‘Axis Moves’ the bank had launched in leading B-schools in a bid to bolster entrepreneurship across the country. The winning ideas will be executed by the Axis Bank Foundation and a partner non-governmental organization. The bank conducted the competition in 16 campuses across the country. Some 2,352 students participated in it. 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, tele education and water management by bringing various stakeholders in these areas on a single platform. Shikha Sharma, MD and CEO of the bank, said the bank took the smart cities ideas this year as this is one of the big macro themes the government is focused on. If urbanization is to happen in a disciplined fashion there is need to build the right infrastructure, she added. The bank will provide Rs 10 lakh as seed money to develop the app and the bank’s foundation will choose NGO partners interested in working in such areas.

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