1864 Hackathon | 3 Days of Coding, Hacking and Programming!
Following our 1864 ideation session where we brought together entrepreneurs, banking professionals, Flat6Labs mentors and professionals interested in the FinTech space, we teamed up with community partners to take on these resulting FinTech challenges that the Egyptian market face in three days of coding, programming and hacking!
Day 1 – Hackathon Kick-off
The 1864 hackathon brought together more than 120 attendees for the event kick-off event!
At 6:30pm a panel on the Egyptian financial sector sparked a highly conversational and compelling talk on the pool of FinTech opportunities and difficulties of the financial space, mobile payments, micro finance enterprises were just some of the topics discussed. On the panel were Barclays General Manager, Tarek Refai – Mastercard Country Manager, Tamer Kashef – DoPay CEO, Ezzeldin Ahmed – Orange Head of Customer Experience, Noel Chateu.
Following the panel, Willie Elamien 1864 Accelerator Managing introduced the Eight challenges the hackathon teams would be tackling:
- Your Own idea
Hackathon contestants to work on their own ideas
Micro-investment method allowing users to invest in a range of alternative ‘micro-assets’ (e.g. an Uber driver’s car) to obtain returns on savings. This can be done traditional banks or using FinTech such as Fawry
- Self-investment Marketplace
A platform that allows the user to bypass an investment bank, by offering comparisons of all financial services and highlighting the time value / risk / financial returns on potential investments
- SME Financial Tracker
A platform allowing the banks to follow up on the commercial growth and developments of SMEs by tracking the finances of the business and allowing the bank to provide advisory to the business owners and prevent tax evasion and corruption
- FinTech Chatbox
A FinTech-focused ChatBox / chat component that can be integrated as a social media tools and can be used by banks
- Investment Gifts
Offering investments as an alternative to traditional gifts; targeting new couples and youth. Delivered through mobile and web applications, these investments can be saved targeting a particular return over the years and eventually be exchanged for cash
- Savings and Credit Association
(Gameea) A Rotating Saving & Credit association delivered on a mobile app targeting parents and people approaching marriage
- Artificial Intelligence Financial Manager
Targeting small businesses with bank accounts, a smart financial manager tracking expenses and assets using AI technology and collecting data to manage account for best performance. Prevents corruption and can generate reports; using AI , datamining, restful APIs, web/ mobile.
The teams chose their challenges, 51 attendees formed into 11 teams to work non-stop on their FinTech startup ideas in the upcoming 2 days!
Day 2 – Coding all the way!
The second day for the hackathon started bright an early 9:00am on a Friday. You might be thinking, “who’s going to wake up early Friday morning to code?” and we were also pleasantly surprised about how the majority of the teams were glued to their laptop screens coding away!
As the 11 teams were working towards building their FinTech products, day two saw several sessions from Microsoft, Orange, Payfort as well as ClueApps.
Day 3 – Show off your products!
Day 3 saw the teams tirelessly working to iron out the final kinks of their FinTech products to have them ready for show-off to the 1864 Hackathon panel of experts. The panel brought together Joman Salama and Nancy Bassiouny from Barclays Bank Egypt, Flat6labs CEO Ramez Mohamed, Dr. Ashraf Abdelwahab from Microsoft and Tarek Abouallam from Glint Consulting.
The 11 teams who presented were:
- Car-surence: “The fastest way to save on car insurance with just a few taps on your phone you can instantly see savings from major insurers”
- Insanyah: “Online donation for NGOs to collect money from donors through there website mobile application”
- Clueapps: “A platform that helps you collect money for a specific goal or event (wedding , donation , etc..). This service can be done in a cool online payment chat app with many cool features”
- Hype: “We provide a solution for SMEs to track their income and expenses and provide them with probability forecasts.”
- Foxbits: “Money rotating platform that enables individuals and groups to share and invest their money together”
- InvestGift: “Invest Gift is a platform that helps people find good investments that grow rapidly through the years like savings accounts , companies, stocks ,etc .. To gift it for kids so when they grow up they find someone to help them with university loans , sharing their own business”
- Online Facilitator app: “Multi-platform interface web/mobile for providing banking services such client log in, money transfer & help chat box”
- Save it: “Mobile app notify you automatically to add your expenses and recommend ways to save money and make money”
- Selvest: “Spread the investment culture by comparing the bank services which let the end user to lead himself to choose the appropriate service”
- Tillion: “Mobile application for ‘personal finance management’ it helps people to sit in track targeted savings”
- Utmost: “Web platform for b2b business for exchanging services”
and the chosen winners were:
- 1st Prize winner – Save it | EGP 10,000 + iPad Air
- 2nd Prize Winner – Clueapps| EGP 3,000 in Virgin Megastores vouchers + iPad mini 128
- 3rd Prize Winner – CarSurance | EGP 2,000 in Virgin Megastores vouchers + iPad mini 64 (Also won Microsoft’s Tech Prize | 6 Microsoft Windows Mobile Devices)
- 4th Prize Winner – Tillion | 2 Samsung Galaxy S6
- 5th Prize Winner – Sellvest | iPhone 6s
The hackathon brought together a multitude of stakeholders from the community, an array of entrepreneurs and FinTech professionals in 3 days jam-packed with panels, talks, sessions and most importantly the 11 teams who worked very hard to develop a FinTech protoype to solve an actual challenge in the market!
Having said that, and given the outcome of the hackathon we couldn’t be more proud. Massive thanks to all the partners who took part to make this event happen and to all the participants for their hardwork across the 3 days.