Saturday, October 26, 2019 / 03.30PM / NifemiTaiyese
for Proshare WebTV / Header Image Credit: NSE
Team Requid won the maiden edition of the Nigeria Stock Exchange (NSE) X-Kathon, a hackathon and innovation contest, designed to promote ideas to boost participation of millennials in the stock market.
The X-Kathon event featured ten (10) finalists namely; Team Echo Trade; Team Requid; Team Koin-Jar; Team King; Team Finfit; Team-Fantasy Stock Exchange; Team Stritbid; Team Trove; Team Investors Masterclass and Nigeria Learn Team
The CEO of the NSE, Mr. Oscar Onyema, in his welcome remarks of the 2019 grand finale appreciated the jury for their judgement and valuable perspectives on Team entries to the competition.
Mr. Onyema said the X-Kathon alongside other initiatives of the NSE is designed to unlock the economic value of business transformation within the capital market.
He said the 2019 edition, "Millennial Participation in the Capital Market," was borne out of the need to ramp up retail investor participation in the market.
"The Exchange is fully aware of the tectonic shifts in the global business environment occasioned by the 4th Industrial Revolution and how smart, nimble tech start-ups have become global economic catalysts. We are poised to actively engage the massive potential of creative enterprise in our nation and provide a much-needed template for corporate venture capital. A cursory look at the entries received for the X-Kathon has revealed that our young people are blessed with amazing ideas and entrepreneurial hacks that can positively shape the Nigerian business climate," Onyema said.
Mr. Nsikak John, Head, Enterprise Innovation Hub of The Exchange, said, "We are very impressed with the depth and quality of entries received. The entries prove that Fintechs are indeed critical to the growth of the capital market and we are excited about the emerging possibilities. The X-Kathon is just one of the several initiatives that we are leveraging to unlock the disruptive potential of the capital market by identifying solutions that steer the interest and eventual participation of millennials in trading and investment".
Team Requid, which clinched the cash prize of N5m set out to be the amazon of the capital market by providing seamless market place investment aggregation with quick liquidation of investments across multiple profiles.
The first runner-up of the event Team Trove that received the prize of N3m is a private micro-investing platform that digitalizes onboarding processes to trade and securities.
Team Investors Masterclass the second-runner up that bagged the prize of N2m, is an online course learning platform on stock market investment through the use of mobile phones.
The Judges that participated at the maiden NSE X-Kathon include; Mr. Jude Chiemeka, Divisional Head, Trading Business, NSE, Mr. John Nsikak, Head, NSE Enterprise Innovation Hub, Alessia Balducci, GM Seedspace, Mrs. Hasfat Rufai, Mr. Folagbade Adeyemi Head, Clearing and Settlement Operations at Central Securities Clearing System Plc, CSCS.
Over 100 applications were received for the maiden NSE hackathon event, with ten (10) finalists short-listed and the final three (3) emerging as prize winners.