FAQs - Award | SKOCH FinTech Forum & Award

FAQs FOR SKOCH FINTECH AWARD

Why SKOCH Award?

SKOCH Award remains the most credible independently instituted award in the country for the last 25-years. Its receivers have come from across the political spectrum and party lines. It has been conferred on the ordinary and mighty alike. Each SKOCH Award recipient has been doing phenomenally well in their respective areas.

Our methodology and evaluation spans four months - more than any other award in the country. Our experts and juries are domain experts and devote hours and days of their time evaluating each project in great detail as opposed to celebrity juries, which don't provide either time or commitment to the process.

What is the difference between SKOCH Order-of-Merit and SKOCH Award?
SKOCH Order-of-Merit is the recognition of your efforts in the applied sub-category for the award. SKOCH Orders-of-Merit are provided to the top 30% best performing projects in the country. The difference between a SKOCH Order-of-Merit and SKOCH Award is that while nominations compete within their sub-category for SKOCH Order-of-Merit, for SKOCH Award, the evaluation is done for the main category as well as across sub-categories.
Can I qualify for the award without participating in the exhibition?
Yes, you can qualify for the award without participating in the exhibition, which is optional but an integral part of the process. Several nominees, who do not participate in the exhibition also go on to win SKOCH Award. The reasons could be any of the following:

All judges give 10/10 combined score
Jury and Peer Evaluation coming to 10/10 score
SKOCH Order-of-Merit score is 10/10
SKOCH Award score is 10/10
All scores are confidential and not shared with anyone including the nominees
Why is the exhibition important?
Exhibition is an important part of the award evaluation process not only because it provides an opportunity for you to showcase your work in the presence of thought leaders from the industry, stakeholders and the wider ecosystem but also because it provides an opportunity for the delegates to see your work live and vote on the spot, which carries a 10% weightage in the process for evaluation.

Often, people lose out on awards due to a fraction of scores and hence, these scores from the exhibition become even more crucial.

SKOCH Award isn't based on any commercial considerations. Participation in exhibition doesn't influence the jury decision. It can, however, provide precious marks, which often make the difference between a winner and a loser.

Exhibition participation provides another unmatched opportunity to learn from the best practices in your industry. Nothing delivers on sharing best practices better than exhibition.
Why do I have to sit through all peer evaluations?
The idea behind SKOCH Awards is two fold - learning from peers and learning from the best. For best practices sharing and learning, we encourage all participants to sit through presentations of their counterparts and learn from them. Sitting through peer evaluation provides you an opportunity to learn from the best practices in the country.
Why is online voting important, if we are a non-media savvy organisation?
As the world moves forward, it adopts contemporary technologies to drive value for the humankind and so should we. In online voting, same categories of organisations, individuals and nominations are competing with each other so the playing field is level. If you are not competent on social media and online, your peers aren't likely to be savvy either.

Moreover, we encourage people to adopt more and more contemporary technologies and move forward with the times to digital inclusion.
Does participation in exhibition guarantee an award?
SKOCH Award is India's highest independent civilian honour. The awards have been non-controversial and non-partisan for 25 years. All nomination go through a rigorous evaluation process, which spans four months.

Exhibition is an integral but an optional part of the process. There are enough number of award winners, who didn't participate in exhibitions.
What happens if you receive a complaint about a potential awardee?
We take such issues seriously and with utmost concern. Any complaint received is liable for a detailed editorial investigation by the SKOCH Group and a report is presented to the jury before they make their final decision. Any complaint about a potential awardee/nominee can be emailed at info@skoch.in alongwith supporting documents. Anonymous complaints are not entertained.
What happens if you receive a complaint after the award has been conferred?
All awards are final. Once conferred, they are not reviewed. Awards are evaluation based and decided through a process using the evidence available at the time.
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