Karachi, 19 October 2022 (TDI): BuiltByHer 3.0 Hackathon was co-organized by United Bank Limited (UBL), LMKT, and National Incubation Center, Karachi (NICK), recently.
The goal of the hackathon was to enable ambitious female entrepreneurs to develop innovations that will increase Pakistani women’s economic inclusion and encourage young women to pursue STEM degrees.
STEM stands for Science, Technology, Engineering, and Mathematics. Thirteen participating teams presented creative ideas intended to make formal banking accessible and inclusive.
Teams with female CEOs took the stage to present their ideas to an audience of banking and startup sector experts. Panelists included Omar Abedin, the Project Director at NICK, and Sana Shah, the Program Manager at NICK).
Aliya Ahmed, Head of Digital Channels at UBL), Zohair Saif, Head of Innovation at UBL, and Faizan Laghari, Managing Director, Bykea were also part of the panel. Sharjeel Shahid, Group Executive-Digital Banking Group, UBL, also attended the ceremony.
The team of experts chose two proposals that stood out from the rest following a competitive round of pitching.
The competition was won by Team Oval 2.0. It won a PKR 750,000 seed money prize for its cutting-edge and creative idea. The team provided an immersive glimpse into a full end-to-end banking experience in the metaverse using VR technology.
Gilgit Baltistan’s Team FromHer won the second-place trophy and PKR 350,000. Their solution centered on educating women from remote locations about financial rights and literacy in general, as well as how to use digital banking channels.
As more of the underbanked population adopts formal banking solutions, the integration of such solutions into Pakistan’s economic value chain would create new chances for economic growth.
The chief guest of the event, Shazad G. Dada, President & CEO of UBL, remarked in his speech to the audience, “Gender diversity and financial inclusion have always been the top priorities of UBL.
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We take pride in having supported the BuiltByHer Hackathon to help Pakistani young women show off their creativity and talent.
As the most forward-thinking and creative financial institution in Pakistan, we welcome the opportunity to take part in programmes that advance digital literacy, diversity, and the nation’s economy.”
The CEO of LMKT, Atif Rais Khan, praised the tireless work of all the contestants, mentors, and judges for coming together to build a platform for young women to use and display their abilities.
He also expressed his enthusiasm for working with UBL, saying, “Having a banking leader like UBL onboard spearheading the cause for gender inclusion in the economy is an extremely encouraging sign for the country’s future.
The role that women play within our society cannot be understated. We must do our absolute best to provide them the opportunities that they deserve.”
BuiltByHer Hackathon 3.0 emphasized the potential of Pakistan’s young, entrepreneurial women as well as the economic opportunities made possible by technology and cooperation amongst key players in the sector.
UBL and LMKT are dedicated to assisting in the creation and application of the most innovative approaches that guarantee the contribution of women to Pakistan’s entrepreneurial landscape.
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