Cyberport and Convoy organised first FINSPIRE FinTech Online Hackathon to “hack from home"
Snuggled in the comfort and safety of their homes, more than 160 university students from Asian countries took in the inaugural FINSPIRE FinTech Online Hackathon, jointly organised by Convoy and Cyberport, over a weekend at the end of March.
This was the first Cyberport co-hosted online hackathon using “hack from home” format. Instead of physically huddling together, the participants collaborated, communicated, pitched, and attended workshops and mentoring sessions remotely using the competition’s official software Microsoft Teams.
“It’s a perfect showcase that innovative spirits meet no barriers,” said Eric Chan, Cyberport’s Chief Public Mission Officer, in his opening remarks delivered via video streaming. “We hope that the event will inspire more university students to take an interest in FinTech and entrepreneurship and to turn their creative ideas into reality.”
During the event, 31 teams of students competed against each other to create the best FinTech prototypes around one of three themes - “Fintech for Business”, “Fintech for Good”, and “Fintech for You”. The goals were to apply FinTech to enhance commercial operations, address social and environmental needs, or improve living.
The teams had 48 hours to conceive, build their prototypes and to produce presentation videos to pitch their innovations to the judges. During this time, the students also had to attend workshops and mentoring sessions by industry leaders and experts on how to finetune their concepts, prototypes, and pitches.
In the end, “Whealth”, a team from the Chinese University of Hong Kong, won the championship for their “Fintech for Good” innovation. Their InsurTech prototype uses AI to digitalise the data from health reports and to generate customised health status reports and recommendations for insurance products.
Teams “DASH” and “EbAR” took home the first and second runners-up, respectively. DASH’s innovation provides AI-enabled financial planning matching services for SMEs and start-ups, while EbAR improves users’ experience by applying AR techniques.
The winners were awarded HK$100,000 in cash and prizes and earned a place in a 12-week Convoy mentorship programme. They will also receive entrepreneurship training by the MIT HK Innovation Node.