NSE to attract millenials’ participation with innovation contest, X-kathon

AN AT TEMPT TO COMBAT the challenge of low participation in the capital market, particularly by millenilas, the Nigerian Stock Exchange has introduce an innovation contest tagged X-kathon to spur interest among the young people.

The NSE opened entries window for participation in the inaugural edition of X-Kathon, its hackathon and idea innovation contest designed to improve the Nigerian capital market

According to the Exchange, this edition themed, “Millennials Participation in The Capital Market”, is aimed at enhancing retail investors’ participation in the country’s capital market.

In a statement on Thursday, management of the bourse said X-kathon is open to talented individuals, teams, and ventures in the tech ecosystem, who have the ‘magic wand’ to explode the growth potentials of the Nigerian capital market.

It directed interested participants to submit creative ideas, software/tech solutions and hacks to address “low participation of millennials in the capital market” on or before October 8, 2019, via X-Kathon - NSE Hackathon.

“To ensure the best candidates emerge at the grand finale on October 24, 2019, entries for the X-kathon will undergo a rigorous review and the top 10 entries will be invited to a boot camp. The overall winner of the maiden edition of the X-kathon will win the sum of Five Million Naira while the first and second runner ups will win Three Million Naira and Two Million Naira respectively,” the press release stated.

Speaking on the initiative, John Nsikak, head, enterprise innovation hub at the NSE said technology remains an essential enabler for growth in the Nigerian capital market.