People with innovative solutions that resonate with millennials are invited by Australia’s largest credit union, CUA, to participate in a hackathon from 18-20 August.
The hackathon, to be hosted in Brisbane with technology startup hub River City Labs, will challenge participants to create a unique service or product offering that leverages technology to create trusted experiences and relationships that resonate with 18 to 35 year olds.
The theme for the event is Millennials: Tech, Trust and Relationships, with participants encouraged to get creative and turn ideas into concepts and digital prototypes over two and a half days.
Participants will include entrepreneurs, start-ups, members of the community and CUA team members who will collaborate to design, develop and validate their ideas in teams.
They will also have a chance to pitch their ideas to a panel of judges, including CUA CEO Rob Goudswaard and entrepreneur, investor and “Shark” on Channel Ten’s Shark Tank Steve Baxter. The winning team will receive a $5,000 cash prize, a mentoring opportunity with Mr Baxter and $10,000 in branding and marketing support from creative consultancy CXA.
What is CUA looking to achieve with this hackathon?
CUA Head of Innovation Melissa Witheriff said that the hackathon would collectively draw expertise from within and outside the organisation to deliver solutions specific to millennials’ needs. Research shows that millennials dominated global income, spending and wealth creation in 2014/15.
“Around 67 per cent of millennials prefer to receive advice on financial products and services via a digital platform . There is a huge opportunity for CUA to develop solutions tailored for this demographic which reflect the value they place on secure technology, personalisation and 24/7 access to services,” Ms Witheriff said.
“CUA works with our members through life changes and one way we do this is by developing solutions that enable our members to engage with us anywhere, anytime. I was blown away by the ideas that were generated through the collaborative efforts of participants at last year’s event and look forward to seeing even more new and impactful business ideas this year.”
River City Labs CEO Peta Ellis said that the CUA Hackathon is an excellent opportunity for the Brisbane startup community to develop and showcase their ideas to solve a real-life challenge.
“We are excited to be working with CUA on its Hackathon again as it’s a great platform for people to challenge themselves and think outside the box. I encourage them to join other passionate and enthusiastic individuals during this fun, adrenaline-filled weekend. Who knows, their idea could be turned into a solution that assists with the financial needs of themselves or their friends and family.”
Visit here to register for the CUA Millennials: Tech, Trust and Relationships hackathon.