Jaarvis Accelerator, an international accelerator, operating out of Gurgaon in India, organized its maiden hackathon in India, #Hack2Solve, in association with Institute of Management and Technology (IMT) Ghaziabad and Axis Bank. The event which was spread over a span of two days attracted as many as 150 applications from developers and enthusiasts from universities, colleges and corporates out of which only the top 35 applicants were shortlisted to participate. The event partners for the Hackathon were IncubateIND.
The hackathon was a 30-hour long challenge where teams were required to design and build solutions around social banking, discounting and lending, insurance and wealth management, risk and compliance, etc… The teams were judged on parameters like technical competence, business potential, scalability and creativity. Team ‘Capitally’ took home the award for the best idea by building an unique version of a wealth management application. The award for the winning team was presented by Mr. Arvind V Arryan, Principal & Program Director at Jaarvis Accelerator. Capitally has now the opportunity to get accelerated by Jaarvis Accelerator and receive an investment of upto $50,000.
During the 2-day event several workshops were conducted on topics related to FinTech including topics such as Factoring Services & recent technologies adopted by Axis Bank (by Ms. Deep Rath, D.V.P Relationship management, Axis Bank), basics of Blockchain through industry use-cases (by Mr. Harmeet Singh Monga, Chief Business Officer, BlockSmiths), data analytics and visualisation (by Mr. Shivam Dang & Mr. Lalit Kumar from AWS) and how to raise investments for a startup (by Mr. Saumyajit Guha, Principal, Jaarvis Accelerator).
Jaspal Sarai, CoFounder & Director, Jaarvis Accelerator enunciates, “We are at a pivotal moment in time where the banking systems, tools, and the currencies are all being reinvented. We are fortunate to be part of this transformation and the Hack2Solve event proved that there is tremendous potential in the Indian Startup ecosystem.”
The event came at a time when the popularity of digitalization in the finance industry is at its peak and the face of the Indian financial sector is undergoing transformation post the demonetization drive. The Director of IMT, Ghaziabad, Dr. Atish Chattopadhyay and Asso. Prof. Rakesh Gupta, Director E-Cell at IMT were extremely instrumental in making this event a success.