By Modupe Gbadeyanka
The maiden edition of X-Kathon, the Hackathon designed by the Nigerian Stock Exchange (NSE) to encourage technology enthusiasts to develop innovative financial technology (fintech) solution to drive up millennials participation in the capital market.
From the over applications received from participants, Team Requid emerged the overall winner and went home with the grand prize of N5 million.
The winner made the top 10 teams, including Echo Trade; Koin-Jar; King; Finfit; Fantasy Stock Exchange; Stritbid; Trove; Investors Masterclass and Nigeria Learn.
The second position was occupied by Team Trove, which took N3 million and Team Investors Masterclass, which got N2 million.
Speaking at the unveiling of the winners on Thursday, CEO of the NSE, Mr Oscar Onyema, said “the exchange is fully aware of the tectonic shifts in the global business environment occasioned by the 4th Industrial Revolution and how smart, nimble tech start-ups have become global economic catalysts.
“We are poised to actively engage the massive potential of creative enterprise in our nation and provide a template for corporate venture capitalism that is much needed in our business environment.
“A cursory look at the entries received for the X-Kathon has revealed that our young people are blessed with amazing ideas and entrepreneurial hacks that can positively shape the Nigerian business clime.”
“The hackathon would be climaxed by the deployment of the solutions hashed from it over the next couple of months to drive our retail participation agenda.
“Working closely with our Enterprise Innovation Hub, we will on-board these ventures into our world class incubation and acceleration programs and groom them for local success and global relevance,” added Mr Onyema.
Mr Nsikak John, Head of Enterprise Innovation Hub at NSE, said, “We are very impressed with the depth and quality of entries received. This is proof that Fintechs are indeed critical to the growth of the capital market and we are excited about the emerging possibilities.”
“The X-Kathon is just one of the several initiatives that we are leveraging to unlock the disruptive potential of the capital market by identifying solutions that steer the interest and eventual participation of millennials in trading and investment,” he added.
Adedapo Adesanya