Interswitch technovation hackathon 2024: Fueling innovation for a better tomorrow

Admin I Tuesday, November 12, 2024

 

LAGOS, Nigeria – The future of technology is built on bold ideas and fearless innovation—and nowhere was that more evident than at Interswitch’s Technovation 3.0 Hackathon.

Held by Interswitch’s Innovation Team, this year’s edition brought together some of Interswitch’s brightest minds in tech, entrepreneurship, and problem-solving for an intense day of innovation, collaboration, and competition.

The hackathon once again showcased the incredible potential of Africa’s tech ecosystem, with groundbreaking ideas that promise to solve real-world problems and create lasting impact.

After days of coding, brainstorming, and refining their prototypes, the top three teams were selected from a talented pool of participants, each having impressed the judges with their forward-thinking ideas and ambitious goals.

From financial inclusion to renewable energy and education, these teams are redefining what’s possible with technology, and they are paving the way for a brighter, more sustainable future.

The Winning Ideas

2nd Runners-Up: FusionBuild – Revolutionizing Credit Access for Salary Earners

The team behind FusionBuild (comprising Senior Project Implementation Engineer, Richard Ali; Service Management Executive, Anthony Edeh; Merchant Acquiring Executive, Folashade Akinade; Hardware Engineer, Promise Okere; and Business Development Manager, Chika Akaeze) presented an innovative idea aimed at solving one of the most persistent challenges for salary earners—access to credit. With the rise of financial inclusion, their project promises to level the playing field for millions of Nigerians who are often excluded from formal credit systems.

FusionBuild was awarded a generous two million Naira in start-up capital to further develop their idea.

1st Runners-Up: Technovate – Powering the Future with Solar Energy

Technovate (led by Technology Risk Analyst, Oluwatoyin Dove-Francis; Operations Representative, Obijiaku Blessing; Software Engineer, Michael Chinweike; and Embedded System Engineer, Israel Obanijesu) secured the first runner-up position with their impressive prototype of an all-in-one solar inverter system.

This solution could be a game-changer for rural communities and urban dwellers alike, offering a cleaner, more cost-effective alternative to conventional power sources.

For their exceptional work, Technovate walked away with three million Naira in start-up funds, setting them up for continued success in the renewable energy space.

Winners: Skoot Labs – Empowering the Financial Future of Children

The top prize, five million Naira in seed capital, went to Skoot Labs (comprising Software Engineer, Suleiman Suleiman; Quality Assurance Engineer, Samuel Udo; Software Engineer, Olayinka Jaji; Program Manager, Olamide Ajayi; and Product Manager, Olugbenga Olumide), whose idea was both innovative and heartwarming. The team introduced a product designed to empower and secure the financial future of young children, one financial transaction at a time.

Their solution—a child-friendly, easy-to-use mobile banking and savings platform—allows children to learn about money management from a young age, while giving parents a secure way to save for their children’s future.

This product not only promotes financial literacy among the younger generation but also helps parents build a financial safety net for their children’s education and future needs.

Adaobi Okerekeocha, Interswitch’s Chief Innovation Officer, expressed her excitement about the winners, stating:

“At Interswitch, we are committed to fostering innovation that not only addresses today’s challenges but also anticipates tomorrow’s needs. The ideas presented at this Hackathon are a perfect example of how technology can create lasting change. The winning projects—particularly Skoot Labs’ initiative to empower the next generation with financial literacy—embody our belief that innovation is most impactful when it serves the broader community.”

As the 3rd edition of the Interswitch Technovation Hackathon wraps up, it’s clear that the future is bright for these emerging innovators. The winning teams—FusionBuild, Technovate, and Skoot Labs—are already on their way to turning their ideas into impactful solutions that will create seamless integration for corporates and easy adoption and usage for consumers.

Interswitch’s continued support for these teams, along with its focus on driving innovation in the fintech, energy, and education sectors, will help ensure that these projects have the resources they need to succeed. For everyone who participated in this year’s hackathon, the journey is just beginning, and Africa anticipates a bright future as these innovators take their ideas to new heights. Congratulations to all the winners!