EVENT PROPOSAL EVENT OVERVIEW DeFy 24 is a gripping 42 hour hackathon that unites Web3 enthusiasts and aspiring entrepreneurs at the college level, on a quest for real innovation. As the name suggests - DeFy 24 is unlike your typical collegiate hackathons, where the emphasis lies only on programming a tech solution. Here, we challenge the status quo and redefine what a hackathon can be. It's not just about coding; it's about disrupting and reimagining the future. DeFy 24 aims to break boundaries, merging technology and business acumen to create Web3-powered startups that propel us to an era where ‘Decentralization’ and ‘Future yield’ go hand in hand. EVENT DESCRIPTION DeFy 24 presents a unique dual challenge to its participants. Firstly, it calls upon them to harness the potential of 'Decentralized' technologies, pushing the boundaries of innovation. Secondly, it challenges participants to craft a sustainable business proposition around their tech solution, one that promises 'Future yield.' DeFy 24 will be hosted in the VIT Chennai campus, and will be open to college students across Chennai. Participants will be competing in teams of 4-6 members. There will be multiple tracks, or problem arenas, as endorsed by sponsors, for the participants to compete in. The event will have three rounds: 1. The Preliminary or Ideation round, which shall happen online. In this round, participants shall have to come up with the idea for their solution/business and the proposed tech stack. On the basis of their submissions, the Top 30 contesting teams shall be shortlisted to move on to the next round. 2. The Hackathon round, which is the main event, shall happen offline in the M.G. Auditorium of VIT Chennai. In this round, the top 30 teams will have to build their tech-based prototype as well as formulate a pitch deck for their business, all in a time period of 42 hours. Judges will assess the participants on both the tech and business components to shortlist the Top 5 * teams who will progress to the final round. 3. The Pitching round, which is the final round, will consist of the Top 5 * teams demonstrating their prototype and presenting their pitch deck to the panel of judges. Judges shall finalize the Top 3 * winners. * The format of shortlisting is tentative and prone to change, as the problem arenas are reliant on sponsors. PROSPECTIVE TIMELINE The tentative dates for the course of the event have been outlined as follows: Registrations/Submissions for Round 1 (Ideation) Open 25/12/2023 Registrations/Submissions for Round 1 (Ideation) Close 12/01/2024 Announcing Shortlisted Teams for Round 2 (Hackathon) 16/01/2024 Main Event (Hackathon) Starts 22/01/2024 (6pm) Hackathon Ends 24/01/2024 (1pm) Round 3 (Pitching) + Winner Announcement 24/01/2024 (3pm onwards) ABOUT THE ORGANIZERS DeFy 24 is being conducted collaboratively by the DAO Community of VIT Chennai and the Business Innovation Community (BIC) of VIT Chennai. While DAO is an official student driven community based out of VIT Chennai, BIC operates as an officially recognised club at the campus. ABOUT THE DAO COMMUNITY The DAO Community is committed to the principles of decentralized governance, where individual contributions speak volumes. We believe that one's work should be the measure of their standing, and our community is built upon this ethos. Our mission aligns with the Web3 ecosystem's core values of decentralization and transparency, making us natural allies for companies at the forefront of this space. ABOUT BIC By working at the exact intersection of business and tech, BIC aims to equip students of engineering with a finer understanding of how business works, so that they may thrive in any work environment, be it in the corporate world or as they start-up with a venture of their own. Innovation is deep-rooted in our spirit and disruption is ingrained into our very design. We now set out to reinvent how collegiate hackathons are traditionally held through this collaboration.