30 teams from Uganda and Kenya have been selected for this year’s Women in FinTech Hackathon scheduled for August 10-17. The selection was carefully curated from a competitive pool of over 100 innovative submissions received over the past two months.
The shortlisted teams will now gather in Kampala where their pitched ideas will be transformed into groundbreaking financial technology products and solutions.
The innovative focus spans a wide range of sectors, including but not limited to payments, savings & loans, e-commerce, e-health, fundraising, agritech, e-insurance, and remittances.
While announcing the successful completion of the registration process, Charlotte Neeza, fintech events manager at HiPipo, highlighted the profound surge in enthusiasm and a steadfast will to innovate as key factors contributing to the hackathon’s growing popularity over the last three years.
Recognizing the burgeoning interest, the decision was made to expand the 2023 edition’s scope to include thirty teams, a substantial 50 per cent increase from the 20 teams that participated in the 2022 event.
“We are thrilled to introduce the participants of this year’s Women in FinTech Hackathon. The growth from 2021 to last year’s count of 20 teams was remarkable, and this year, we have broadened our horizon further with 30 teams selected from nearly 100 submissions,” Ms Neeza explained.
She added that consistent advancement is a testament to the trust and faith that young innovators place in this project and that the triumphs of past contestants in areas such as mentorship, product design, development & go-to-market strategies, and seed capital acquisition continue to fuel inspiration among both returning and new participants.
“For the fortunate 30 teams, this hackathon is not merely a competition but a luminous platform to showcase your potential, revolutionize your lives, and make a lasting impact on your communities. We extend our heartfelt gratitude to all teams that demonstrated their interest and initiative by submitting their innovative propositions. To those who haven’t made the shortlist, let this not deter your spirit or ambition. Continue to chase your dreams with determination, for there is indeed light at the end of the tunnel,” she explained.
Neeza disclosed that every team in this year’s competition is characterized by both women-driven leadership and a majority of women members, underscoring a commitment to empowering and spotlighting female innovators in the field.
“An inspiring 70 per cent of the participants in this initiative are women, and I’m proud to affirm that every single team is guided by a female leader,” she said.
Now the fourth consecutive year, the hackathon stands as a vital component of HiPipo’s expansive Women in FinTech initiative. Beyond the competition, the initiative encompasses a comprehensive suite of programs including a thought-provoking summit and a nurturing incubator program, all aimed at fostering innovation and empowerment in the field of financial technology.
The fundamental mission of the initiative is to actively advocate for women’s financial inclusion by fostering their engagement in the creation, development, and deployment of financial technology products that are thoughtfully designed to serve not only women but society at large.
From 2020 to 2022, the multifaceted Women in FinTech initiative – encompassing the hackathon, summit, and incubator project – has drawn the engagement of over 4,000 participants and has directly imparted essential training to more than 300 women. Through rigorous and tailored mentorship, a significant number of these women have emerged as qualified software engineers and computer science specialists.
Their achievements transcend the classroom, with some having conceived, engineered, and introduced financial technology products that are actively reshaping their communities. Others have garnered seed capital from both the project itself and benevolent external contributors, propelling them further along the path to realizing their dreams.
Prize money
The best-performing teams and standout individuals will be recognized and duly rewarded, sharing in the collective prize money of $10,000. But the rewards extend beyond mere financial gain; the victorious winners will automatically earn a coveted place in the Women in FinTech Incubator program, scheduled to run from September to December 2023.
This is not merely a competition but a launchpad to greatness, offering not only recognition and financial rewards but a pathway to further innovation, growth, and success within the dynamic field of financial technology.
Do you have a story or an opinion to share? Email us on: dailyexpressug@gmail.com Or follow the Daily Express on X Platform or WhatsApp for the latest updates.
