Open Innovation Challenge
About the Program
Broadridge in association with TiE Hyderabad invites you to take on the challenges of A) Data Migration and Harmonization Automation, B) Advanced Reporting and Analytics Tool for Back-Office Operations, and C) Dynamic Database Comparison Tool for Seamless Transitions. This program is designed to offer startups opportunities for growth and expansion. It includes access to mentoring from key partners, interaction with senior leadership, and participation in a dedicated networking platform. Selected startups will be provided with the chance to create a solution that is ready for corporate integration.
Areas of Innovation Challenge:
a) Data Migration and Harmonization Automation:
The challenge is to create a solution that can analyze existing client data in legacy systems, automate migration and reconciliation, and provide insights and data migration plans for new implementations. The application should be able to read through data sets, take input on data models for the target system, and produce migration plans and scripts. Additionally, it should provide insights on data migration and reconciliation techniques before generating the output.
b) Advanced Reporting and Analytics Tool for Back-Office Operations:
The challenge is to create a solution that provides pictorial representation, such as charts, graphs, and infographics, to streamline operations and enhance decision-making. The tool should address the limitations of current reporting tools, including reduced data comparison efficiency, ineffectiveness in storytelling, and limited focus on key information. Additionally, the tool should cater to client expectations for presenting Profit and Loss (P&L) statements and accrued interest in various formats, such as summary P&L statements, daily or periodic P&L statements, breakdown by revenue streams, comparative performance, and daily accrued interest reports. The solution should also have the capability to integrate data from multiple products and generate comprehensive views.
c) Dynamic Database Comparison Tool for Seamless Transitions:
The solution should conduct thorough analyses of tables, data, and stored procedures, while intelligently identifying and capturing deviations in SQL procedures, such as unused aliases. The goal is to streamline and enhance the accuracy of the verification process, ensuring a smooth transition between different database versions. Additionally, the solution should include comprehensive logging, clear reporting, user-friendly interfaces, detailed documentation for implementation, graphical visualization, and historical comparison mechanisms to add significant value.
Why to apply?
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Collaboration Opportunities:
Open doors for potential collaboration with Broadridge fostering partnerships that drive innovation.
Mentorship:
Benefit from mentorship opportunities provided by seasoned professionals and experts in the field, guiding you towards success.
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PoC Support:
Select startups may receive resources to further develop and implement their solutions.
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Impact Generation:
Showcase your capabilities in contributing to the future of work, making a positive impact on the lives of employees and organizations.
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Networking:
Connect with like-minded entrepreneurs, professionals, and potential clients through our networking events and platforms.
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Recognition:
Stand out in the startup ecosystem. Selected startups will receive recognition and visibility through Broadridge’s communication channels.
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Faster Product-Market Fit:
Accelerate your startup’s journey by refining your solutions for quicker adaptation and success in the market.
Eligibility Criteria for Startups:
- A Registered Startup in India
- Startup with at least 2 team members and an MVP
Process:
- Startups need to apply with the required details on or before the deadline
- After the evaluation, the startups that are shortlisted in the first round will be called for a demo with the leadership to select the finalists.
Timelines:
Open for Applications : 22 April 2024
Close of Applications : 20 July 2024
Evaluation : 21-25 July 2024
Announcement of selected Startups: 26 July 2024
Demo day : 31 July 2024
About Broadridge
Broadridge, a global Fintech leader with more than $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. We deliver technology-driven solutions that drive digital transformation for our clients and help them get ahead of today’s challenges to capitalize on what’s next.