Context:
Telangana AI Mission (T-AIM) has been established by the Government of Telangana State under the aegis of ‘2020 Year of AI’, with a vision to launch Telangana as a global hub for Artificial Intelligence and foster social innovation.
Agriculture is a key area of focus for the state. With the intention of sourcing best in class AI solutions in the field of agriculture, T-AIM is launching Innovation Factory. It is a series of Grand Challenges wherein participants will compete to develop innovative AI Solutions for specific use-cases in Agriculture.
Use Case :
Farmer lending using farm/output backed credit risk assessment
Background:
Lending institutions in the farming sector need standardized assessment tools to give loans to farmers. The processes implemented consider many important factors such as farm yields, hazards, crop portfolios, and geographic details. However, certain factors lead to the development of the aberrated risk profiles and, corresponding loan disbursements leading to defaults affecting both the lending institutions and the farmers. Incorporating pertinent variables and using them to create credit risk assessment models help to gauge the health of borrowers and corresponding borrowing capacities, improving the lending landscape in agriculture.
Objectives:
This is an opportunity for innovators to:
• Assist the Government of Telangana in helping farmers increase their income by working on three selected use-cases
• Showcase their AI solution development capabilities at a larger scale
• Avail an opportunity to implement a pilot within the State of Telangana, with mentorship support from Government of Telangana entities
• Win a prize of INR Four Lakhs (Winner) and INR Two Lakhs (Runner-up), per-use-case (Prize includes cash + AWS credits)
Eligibility Criteria:
• This challenge is open for Start-ups/Institutions operating within India
