Entrepreneurship Cell of IMT-Ghaziabad in association with Jaarvis Accelerator and Axis Bank successfully organised HACK2SOLVE Fintech Hackathon on 29th and 30th July 2017. The event generated a fintech wave of niche start-ups in the campus and students were enlightened with the latest trends in fintech by the expert speakers and mentors.
The event started with the lighting of lamps by dignitaries followed by four workshops. The first workshop “From idea to Fundraise” was done by co-founder of ExtraCarbon, Mr. Gaurav Joshi. He talked about the development of his startup idea, the challenges he faced and finally how he pitched his idea to the investors. The next workshop “Digital Disruptions in Banking & its Challenges” was by Deepa Rath, VP – Axis Bank Business Group. She discussed about how new technologies are challenging the traditional banking model, right from Online and Mobile banking to New Payment Technologies like UPI and the challenges they face from Paytm and freecharge payment Apps. Third workshop “Basics of Blockchain through industry use cases” was by Harmeet Singh Monga, Chief Business Officer and a member of BlockSmith’s founding team. He discussed about Blockchain and how this revolutionary technology is changing the way people raise money for their businesses. The last workshop of the day “Amazon web services and Data Analytics” was by Shivam Dang & Lalit kumar from Amazon Internet Services Pvt. Ltd. They discussed how AWS provides on-demand cloud computing platforms to individuals, companies and governments.
Hackathon started at five in the evening with twelve teams, flushing with zeal and energy. The teams started structuring their ideas and were and scribbling them on a sheet of paper. At checkpoint one, everyone was prepared with their idea but had a few doubts, which were cleared by mentor Mr. Satyakam. He helped them to channelize their thoughts and develop clarity for prototype building. All the teams started building the prototype and coded their ideas through midnight. By checkpoint two, their technical prototype was structured. Mr. Udit Gupta mentored them on the technical aspects and pointed their shortcomings and flaws. At the third and final checkpoint, Mr. Piyush Singh (Sr. Project Manager, Spice Digital) mentored the teams with overall prototype.
On day two, most of the teams successfully coded the prototype but some encountered a few bugs. Six teams pitched their ideas in the pitching session with the help of presentations and prototypes. The judge panel consisted of five members including Piyush Singh, Harmeet Singh Monga, Arvind Aryan (Program Director, Jaarvis Accelarator), Sameer and Ritesh. Team one developed a chrome extension to identify unreliable websites during money transactions. Team two developed an application “Loandost” for raising funds. Team five pitched with their prototype “Capitally”, an application to manage and save money. Teams six prepared “Loan.io”, an app to help easier attainment of loans. Team eight pitched an application “Cachpoint” which can turn nearby department stores into cash points for banks. Team nine presented an application “Munshiji” with voice recognition capabilities.
The judges started discussion to decide the winner. In the mean-time, Mr. Opinder Preet Singh, a Local Adviser on ICO in Indian Subcontinent, presented workshop on Initial Coin Offering (ICO). He talked about two funding models namely ICO and Hybrid model. He also explained the differences between ICO and Token Sale. Finally the result was declared. “Loan.io” and “Munshiji” were asjudged the second and the first runner-up respectively. Team that developed “Capitally” was adjudged the winner. The event ended with numerous selfies and photographs.