Case Study: How Capacitor Partners Helped Build Quadcode's Hackathon

Private sector · Project management · Fintech

Case Study: How Capacitor Partners Helped Build the Quadcode Hackathon

Discover how Capacitor Partners leveraged strategic project management to transform Quadcode's fintech hackathon into a groundbreaking success.

At a glance

Client

Quadcode

Sector

Private sector · Fintech

Service line

Project management

Geography

Cyprus

Scope

Quadcode HackAIthon, concept to delivery

Published

July 2024

The purpose

An inaugural hackathon aimed at AI-driven personalization

Quadcode's inaugural hackathon aimed to revolutionize the fintech landscape by integrating AI-driven personalization.

This event was set against the backdrop of Cyprus emerging as a rising regional tech hub, making the hackathon especially significant. Cyprus's ICT sector contributed €3.66 billion to the GDP in 2022, accounting for 13% of the GDP, up from 7% in 2019. The high-tech sector in Cyprus employed 21,600 people in 2022, showing a rise from 4.0% in 2021. With Cyprus hosting numerous global tech leaders and witnessing significant growth in the fintech sector, this hackathon represented a pivotal moment for the island's tech industry.

According to Statista, the FinTech market in Cyprus is rapidly evolving, with significant growth expected in various segments. By 2024, the largest segment will be Digital Assets, with an asset management value of $18.09 million. The average asset management value per user in the Digital Investment market is projected to be $549.80. The market overall is anticipated to grow by 16.87% in revenue by 2025. The Digital Payments market is forecasted to reach 913,000 users by 2028.

For this very reason, Quadcode’s hackathon came at an imperative time. The hackathon not only aimed to generate innovative fintech solutions but also to foster a community that could lead future advancements, enhancing Cyprus’s reputation as a hub for tech innovation.

"When we decided to launch the Quadcode HackAIthon, we knew it was an ambitious project with tight deadlines. Capacitor Partners stepped in and provided invaluable strategic guidance. They didn't just help us organize an event; along with Quadcode professionals, we crafted an entire ecosystem that brought together top talent, industry leaders, and groundbreaking ideas.”

Michael Gitsis, COO of Quadcode

The challenge and our role

A niche, ambitious hackathon built in two months

Faced with the challenge of organizing a niche yet ambitious hackathon in just two months, Quadcode reached out to Capacitor Partners to become its advisor. Capacitor Partners provided strategic guidance and support in creating and launching the event in Cyprus.

Capacitor Partners built a robust and dynamic roadmap, focusing on three key areas to ensure the event's success:

Event’s Concept Creation

Defined the hackathon's compelling theme centered around AI applications in fintech personalization.

Developed detailed participant personas to ensure balanced and collaborative teams.

Crafted comprehensive event guidelines detailing duration, participation criteria, and judging benchmarks.

Identified and secured both in-kind and financial sponsorships, meticulously preparing sponsorship packages and supporting negotiations to enhance the event’s prestige.

Event’s Community Cultivation

Filtered applications rigorously to ensure participants aligned with the event’s ambitious goals.

Leveraged extensive networks to invite eminent speakers and mentors from Cyprus and abroad, enhancing the event's intellectual capital.

Established robust communication channels for AMA sessions, fostering pre-event engagement and excitement among participants.

Project Management (Before and During the Event)

Conducted a review of the event schedule, confirming speaker line-ups and making strategic adjustments.

Devised an impactful media strategy to highlight the hackathon's contributions and ensure widespread recognition.

Provided dynamic real-time coordination on the event days.

“Capacitor Partners treated the Quadcode HackAIthon like a product launch, which is their specialty. They built a pipeline, oversaw the end-to-end process from ideas review to judging criteria, and ensured every step was successful."

Demetris Portokaloglou, Head of Communications & Culture

The result

A vibrant AI-focused fintech community

330+

Applications received

104

Participants selected

20+

Teams formed

Finalists before the jury

The hackathon achieved extraordinary success, creating a vibrant AI-focused fintech community.

The theme was personalization and AI in fintech. While AI cuts across every industry, personalization is an equally significant aspect of fintech right now but hasn't been fully leveraged. Personalization is crucial for fintech companies and banks to stand out, yet it's not widely used. For instance, only 18% of fintech investments in 2022 went into personalized financial management. Furthermore, only 6% of financial institutions are using advanced personalization technology.

The aim was to gather the best talent in the country and the region to solve problems in this underserved area of fintech, with a focus on generating solutions from Cyprus. Participants focused on various areas including trading, AR/VR, education, and more. The objective was to use AI to personalize user interactions based on their trading patterns, purchasing behaviors, or learning curves, depending on the product a team was building.

As ambitious as this plan may have sounded, hundreds of ideas were submitted, and dozens were built into functioning products in just a weekend. This showcases the incredible potential and innovation that the hackathon brought to life, driving forward the fintech industry in Cyprus and beyond.

Key outcomes included:

Over 330 applications received, with 104 highly qualified participants forming 20+ innovative teams.

Engagement from 250+ VIP guests, 20+ dedicated volunteers, and 25+ mentors and speakers of high repute.

Development of groundbreaking prototypes and MVPs across multiple fintech categories, showcasing unparalleled innovation.

Extensive media coverage, firmly establishing the hackathon as a landmark event in Cyprus' tech calendar.

10 finalists presented functional AI-driven fintech products before the jury.

Quadcode's hackathon achieved and exceeded its goal of driving innovation in fintech personalization through AI. The event showcased cutting-edge solutions and built a robust community poised to lead future advancements in the industry. This success was significantly attributed to the strategic partnership with Capacitor Partners, whose expert guidance and structured approach were crucial in executing a powerful and impactful event.

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