QIC Digital Venture Partners, part of the largest insurer in the MENA region Qatar Insurance Group, aims to shape the future of the MENA InsurTech ecosystem. To achieve this, they not only build digital ventures, but also partner with Big Tech and corporates, and invest in high potential early-stage startups.
To identify such high-potential startups, they partnered up with Agorize to organize the first InsurTech hackathon in their region.
Through a hybrid O2O (offline-to-online) model, they engaged a global community of startups. Download the case study to learn more about this hackathon, including the scope of the Agorize solution and key results.
Agorize is the most comprehensive innovation management platform, supported by a team of experts and community of innovators. For over a decade, we’ve been providing technology powered by a community of 5 million innovators to foster change and accelerate innovation. Our clients and partners worldwide crowdsource, evaluate and develop solutions from startups, employees, developers and students using Agorize.
We’ve helped over 300 global enterprise companies in Europe, North America, and Asia Pacific, including Enterprise Singapore, Huawei, Microsoft, LVMH, PepsiCo, Bayer, Schneider Electric, Hitachi, L’Oréal and many more by running their innovation programs.
An innovation challenge, or innovation competition, is a competition organized by a company to bring forward innovative solutions. The organizer defines clear objectives and problem statements, after which innovators are invited to submit their ideas and solutions. Proposals can come from startups, employees, students or other talent that is relevant to the topic at hand. Through a process of crowdsourcing and assessing ideas, mentoring participants and developing solutions, the organization will identify the winning proposals that will be implemented. More than 300 enterprise companies have organized innovation challenges with Agorize.
Their results speak for themselves. They’ve reduced go-to-market time with internal teams, fast-tracked the development of niche solutions with the products and services of startups, created long-term strategic partnerships and brainstormed future-proof ideas with students from top universities. Overall, it accelerated their own transformation and made themselves more future-proof.
The term hackathon is a portmanteau of hacking and marathon. They are events organized to fasttrack the ideation and development process of technical solutions like an application or software. They are a valuable tool when done successfully, as they can lead to significant progress in a matter of hours or days. Originally, it was teams of computer programmers, tech project managers and UX designers that would participate. Nowadays, hackathons have become a term used for a broader range of events aimed at building solutions with others in short period of time. A hackathon is usually presented as a competition. A group of mentors and a jury guide and assess participants, and will award those that executed the assignment best.