Home / / DIC and FGB to host financial sector hackathon

DIC and FGB to host financial sector hackathon

Latest Decode Dubai hackathon will focus on solutions for finance sector

DIC and FGB to host financial sector hackathon
DIC is supporting innovation and entrepreneurship through sponsorship of hackathons and other initiatives, says Al Suwaidi.

Dubai Internet City will host its third Decode Dubai hackathon from 9-10th October.

The latest edition of the hackathon will task developers and designers to build web or mobile apps for the financial sector.

The competition, which is being held in partnership with FGB, will take place over 36 hours at the Media One Hotel Dubai, and will challenge competitors to build financial services apps. Participating teams will be able to interact with judges and mentors, with the chance to win cash prizes as part of the initial seed capital. Top prize is AED15,000 ($4083) The competition is open to teams or individuals.

Over the course of this year, Decode Dubai has expanded to cater to different industries, and has played an important role in inspiring new ideas and digital products, as well as driving the growth and development of the UAE's entrepreneurial ecosystem. The first competition, held in January 2015 focused on improving the lives of citizens and residents in Dubai and the second competition, held in June, focused on different smart themes and brought together over 120 developers.

DIC said that through sponsorship and support of competitions and initiatives such as Decode, Drones for Good and droidcon Dubai, it aims to support innovation and entrepreneurship. DIC was also named a Strategic Partner for Smart Dubai by the Executive Smart Committee earlier this year, with a mandate to spearhead the development and support of start-ups, entrepreneurs and application developers.

Majed Al Suwaidi, managing director, Dubai Internet City said: "Dubai Internet City is an active supporter of the government's Innovation Strategy and over the past year we have initiated a series of competitions and activities to drive this forward. The first and second editions of Decode brought about innovative and creative ideas and applications, showcasing the vibrancy and dynamism of the UAE's entrepreneurial landscape, and we continue to work extremely hard to ensure that start-ups and entrepreneurs are given new opportunities."

"We are seeing increasing innovation across the financial technology sector, with more and more start-ups and entrepreneurs moving into this space, and it is therefore an excellent theme for this edition of the competition, which we hope will further stimulate innovation across this sector, and empower the technopreneur community," he added.

Hana Al Rostamani, Head of the Consumer Banking Group at FGB, said: "Dubai is firmly set on the road to becoming a smart city, and supporting entrepreneurs as well as start-up technology businesses will play a vital role in achieving this vision."

"FGB is a proud sponsor of DIC's Decode Dubai, which promotes creativity and innovation in the UAE, and supports HH Sheikh Mohammed bin Rashid Al Maktoum's innovation strategy. Implementing new technologies for our customers is a key part of our strategy at FGB and we're pleased to be contributing to DIC's efforts to drive the UAE's digital revolution forward. The event reiterates the importance of new innovation initiatives."

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