NaraIoT, CoE Gurugram incubated startup, became the only Indian company to have won US$10,000 in ADB (Asian Development Bank) AIM Hackathon for ‘Future proofing Global Water Crisis’ category. The hackathon was organized at the ADB Headquarters, Manila, Philippines from 31st Aug to 2nd Sep 2019.
A total of 220 teams from 39 countries, participated to create a solution for the Global Water Crisis. Agua, powered by NaraIoT, is an integrated real-time water management solution that works to increase the availability of water through optimization of water usage, consumption and flood management. The product has been under development for four years and through ADB it has created a global visibility for its solutions.
The Asian Development Bank (ADB) will partner with three winning teams from the hackathon hosted by ADB in partnership with the Asian Institute of Management (AIM).
ADB and AIM held the competition as part of Digital Week 2019 taking place from 2 to 5 September. More than 700 youth and startups from around the world presented innovative solutions to three challenges. ADB and AIM defined the three challenges based on current organizational and development needs.
The winning teams are ‘Eskwelabs’ from the Philippines and ‘Gnowbe’ from Singapore for the ‘Building the Digital Skills of Employees’ category; ‘FlexM’ from Singapore for the ‘Developing Digital Payment Solutions’ category; and
‘Agua Wireless Systems’ from India for the ‘Future Proofing for the Water Crisis’ category. The solutions leverage emerging technologies such as the internet of things, artificial intelligence, and digital payments.
ADB has also entered into non-exclusive cooperation arrangements with Microsoft Operations Pte Ltd. and Oracle Corporation Singapore Pte Ltd. to collaborate on the adoption and use of emerging technologies in ADB’s work. Under the cooperation arrangements, ADB and the companies will exchange information on emerging technologies, train people to apply these technologies, and organize joint events and meetings. Both companies will also provide advisory and knowledge support for ADB’s digital transformation.
‘ADB recognizes that partnerships with top IT companies as well as small startups will help support our digital innovation program through knowledge exchange, capacity building, and co-creation of digital solutions designed for ADB’s business needs,’ said ADB Vice-President for Administration and Corporate Management Ms. Deborah Stokes.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members-49 from the region.
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