*Terms and Conditions apply
Currently, registrations for this programme are closed.
*Terms and Conditions apply
Fullerton India Credit Company is a Non-Banking Financial Company (NBFC). We aim to help customers with a wide range of lending products such as commercial loans, vehicle loans, personal loans, loan against property, SME loans, and so on. Unlike Banks, NBFCs don't accept deposits (savings account/current account) from their customers.
Lending has been a primary facet of our society, ever since the days of money-lenders. Every individual or company looks for a viable credit solution so as to gain the best possible advantage in his/her current situation. For instance, a salaried person may prefer purchasing a vehicle on loan rather than risk using up all of his savings at once.
Similarly, companies in the MSME sector often find themselves facing hurdles due to non-availability of working capital. At the same time, being small players or in rural areas, they may not be able to easily access lenders who could meet their needs. Alternately, corporates may face issues in balancing their financing and accounting hurdles.
At Fullerton India, our primary focus is on using the latest technologies to develop solutions and redefine the business of lending. Can you think of mobile applications which could help us acquire more clients for loans, improve the disbursement process, help us communicate with consumers better, reduce paperwork, etc?
Here is a set of problem statements. Please note that these are merely pointers, and other promising ideas pertaining to technology innovation will also be welcomed.
Some broad areas participants may focus on for delivering the solutions to the above
Please click here; to view the results of Finnovatica 2018
Please click here to view the results of Finnovatica 2017
Click here to read Terms and Conditions
Eligibility criteria vary with each stage of the programme. At each stage, the ideas (as well as the teams) will be evaluated on a variety of factors including innovativeness, applicability in business functions, feasibility, scalability, and commercialization potential. Fullerton India reserves the right to reject/accept any idea at any stage of the programme as per its sole discretion.
Teams can constitute of any student pursuing any course in any batch of the partnered institutes. Startups incubated within the innovation cells of the partnered institutes may also apply. However, students need to form teams only with fellow students within their own campus.
Teams can constitute of members between 1-5.
Yes. However, if your idea gets selected for further stages of the programme, it is up to you to manage your schedule. While Fullerton India will try its best to accommodate exam/course schedules, it bears no responsibility for the individual schedules of participants outside their curriculum.
You may send an email to your faculty mentor, who needs to acknowledge your request. This needs to be forwarded to the official email ID of the programme marking your faculty mentor in CC.
Yes! Good ideas will always be welcomed here, and if any applicability is foreseen during the evaluation stage, your team will be assigned an appropriate mentor from within the organization to guide you from a business perspective.
From the moment an idea is submitted to the programme, Fullerton India has complete rights over it, and may choose to accept/reject it at any stage. Until the idea is a part of the programme, the team cannot submit it anywhere else. If the idea gets rejected at any stage of the programme, the team may apply for a “No Objection Certificate” from Fullerton India within 60 days of rejection. Fullerton India may then take the team back into the programme, or issue the NOC within 90 days of getting the request, after which the team is free to submit its idea elsewhere. However, Fullerton India will continue to have ownership over the idea, and may choose to use it at a later stage at its sole discretion, bearing no liability to any party.
From the moment an idea is submitted to the programme, Fullerton India has complete rights over it, and may choose to accept/reject it at any stage. If an idea is patentable, the IPR to the same automatically belongs to Fullerton India. However, the student will be named as the “inventor” in the application for such a patent. If the idea has already been patented, by submitting the same to the programme, the student waives off all rights, and Fullerton India is free to use the idea without any obligations at any stage in the future based on its sole discretion.
If the idea gets rejected at any stage of the programme, the team may apply for a “No Objection Certificate” from Fullerton India within 60 days of rejection. Fullerton India may then take the team back into the programme, or issue the NOC within 90 days of getting the request, after which the team is free to submit its idea elsewhere. However, Fullerton India will continue to have ownership over the idea, and may choose to use it at a later stage at its sole discretion, bearing no liability to any party.
If a team is not interested in pursuing entrepreneurship, they may do so with no obligation in any tangible or intangible form towards Fullerton India. Likewise, Fullerton India reserves the right to hire any external party for further development of the product in future based on its sole discretion with no obligation in any tangible or intangible form towards the team.
Yes. However, Fullerton India reserves the right to use/commercialize the idea as per its sole discretion with no obligation in any tangible or intangible form towards the team owning the patent. Any product developed as a build-over or customization of an existing product will be the sole property of Fullerton India, and the team will not have any commercial rights over the same unless authorized by Fullerton India.
The format may be downloaded from the “Upload” section on the left hand menu after you login. You may also download the same from here . File specifications: .doc or .docx or .pdf files ONLY, with a maximum size of 200KB.
Each team can submit up to a maximum of 2 ideas.
A student/participant can be a part of a maximum of 2 teams
You may login to the website, and on the Student Dashboard, click on “Change Team Coordinator”. You will be required to select an existing team member as a Team Coordinator before your request can be completed.
You can login to the website, and select “Withdraw” option near your name. Alternately, you may ask your team coordinator to select “Delete team member” option near your name on his/her dashboard, post which you will be sent an email containing links for accepting/rejecting the deletion. If you are the team coordinator, you will need to select an existing member as a team coordinator before you can withdraw from the programme.
Yes. However, do keep in mind that if your idea gets selected, you will need to develop the project with the help of your team. A good way would be to add team members /faculty mentors who can help you develop the project. If your team cannot develop the project, you will be disqualified from the programme. Fullerton India will then select an alternate team to work on the project further.
No, especially if the product has already been patented/ copyrighted. However, an idea based on an existing product with further enhancements/capabilities/applications, and developed from scratch may be accepted.
You may send an email to the registered email ID or through the “Contact Us” section of the website. Fullerton India will evaluate your request, and assist you further based on feasibility of request.
You can add team members at any stage of the programme.
Yes. However, the maximum number of team members at any point cannot exceed 5.
Fullerton India bears no responsibility towards individual participants. All participants have to secure permission for travelling from their guardians/parents/institutes and provide confirmation.
You can download the format from the website by logging in, and navigating to the “Upload Documents” page. Alternately, you may use this link to download. File Specs: .ppt, .pptx or .pdf files only. Maximum File Size = 2 MB
No. In case of any specific request, Fullerton India may entertain email entries on a case-by-case basis based on its sole discretion.
Yes, as long as the overall file size doesn't exceed 2 MB, and the presentation is in the provided format.
No. Fullerton India will be responsible for arranging the travel (including local travel), stay and food arrangements of all participants.
All important dates will be communicated to the participants with sufficient notice via email as well as the website.
No. The team may select presenter(s) among themselves.
No. You may instead, ask your team members to represent you. In case of dire consequences, Fullerton India may make exceptions on a case by case basis based on its sole discretion.
Fullerton India will provide a cheque in favor of the account specified by the Team Coordinator. Distribution of the amount is up to the team coordinator and the members. Please note that the amount will be provided after deduction of taxes as applicable.
The cheques will be couriered to your Institute Coordinator, and you will also be intimated via email along with the details.
You will be provided with a format and guided on project plan preparation by your mentors in Fullerton India.
A project plan mainly consists of the major activities (which are subdivided into smaller activities), timelines for completing each line activity, and milestones indicating phase wise development. It also consists of the resource estimates for development (software/hardware costs, logistics costs, other equipment costs).
Fullerton India will provide teams with
You can make your project plan based on the estimates you have regarding your coursework commitments and exams. However, in case of any sudden change of schedule, you can make a request to your mentor for revision of timelines which may be accepted/rejected after evaluation.
There is no specified duration for project development. Timelines will be decided between the teams and their mentors based on scope, resource constraints, schedules, etc.
You may do most of the work from your own location. However, if it is absolutely necessary for you to work from Fullerton India due to any security/logistical issues, care will be taken to accommodate your coursework and schedule. Also, Fullerton India will bear all costs towards travel (local included), stay and food arrangements.
Yes. However, you will need to provide a letter of acceptance from the older faculty mentor stating that he is OK with you changing your mentor, and is ready to forgo any claims to award money which may/may not be won depending on the team's qualification in the final round. You will also need to provide a letter of acceptance from the new mentor stating that he/she would be your mentor starting “X” date.
Yes. However, maximum number of team members at any stage of the programme cannot exceed 5.
If your project requires any resources apart from those specified in the project plan, you may make a formal request for the same. Fullerton India will evaluate your request and may accept/reject it based on feasibility.
Fullerton India still reserves the right to use the product at a later stage in future based on its sole discretion. If you would like to continue pursuing it through other platforms, you may submit a request for an NOC within 60 days of being rejected, post receipt of which the organization will provide you the same within 90 days.
Fullerton India will guide interested students by
Fullerton India can use the product within its businesses based on its sole discretion independently or via external parties.
Fullerton India will guide teams towards attaining seed funding for their startup, and will also provide the students a purchase order based on which the team may pitch to investors.
No. However, if circumstances demand the option, you may apply for an NOC to Fullerton India, who will evaluate your request and accept/reject the same based on its sole discretion.
Yes. After the final arena stage, all students/teams interested in pursuing entrepreneurship are free to set up their business on the lines of any model (partnership, proprietorship, etc) based on their own discretion. If the initial team gets disbanded and a new one is formed, it is the team's/Team Coordinator's responsibility to intimate Fullerton India of the same.
* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.