Welcome!

News Feed Item

SmallBizDev Hackathons to Engage Developers to Solve Technological Challenges for Small Business Owners

Small business owners could soon find the perfect app to help them manage their business and improve their competitiveness thanks to a series of hackathons planned throughout the country this year.

Using innovation and technology to provide solutions to the needs of small business owners, SPARK Business from Capital One will be presenting a series of “SmallBizDev Hackathons” this summer. The hackathons will be administered by the Center for Financial Services Innovation (CFSI), the nation’s foremost authority on consumer financial health, and Doorways to Dreams (D2D) Fund, a national financial innovation lab focused on strengthening American consumers’ financial security and opportunity. There are 23 million small businesses in America, which account for more than half of all national sales, and fuel 55 percent of all national jobs.

“We are excited to have the opportunity to bring together great minds from diverse backgrounds to develop innovative solutions for small business owners,” said Buck Stinson, Senior Vice President for Spark. “Small business owners are the backbone to the American economy and we look forward to using technology to solve some of their toughest challenges.”

“We want to see more and higher quality financial tools in the hands of America’s small business owners,” said Jennifer Tescher, President & CEO, CFSI. “These hackathons offer a chance for innovators and entrepreneurs to leverage the opportunity of mobile technology to build new, scalable solutions for the problems we see throughout the market today.”

“Millions of Americans depend on small businesses for their next paychecks, and small businesses are an engine of job creation,” said Tim Flacke, Executive Director of D2D Fund. “At the SmallBizDev Hackathons, talented individuals will build mobile apps that can help those small businesses thrive – and, in turn, benefit their owners, customers and communities.”

According to a recent survey commissioned by Capital One of small business owners across the country, two of the biggest challenges on the minds of small business owners and entrepreneurs are cash flow management and leveraging strategic marketing efforts to ensure a successful business proposition. Most indicated finances (53%) keep them up at night, and almost half of those surveyed (49%) manage the business’ money themselves using computer software when they find time. Forty-four (44%) percent feel they are lacking in website activity and traffic.

The upcoming SmallBizDev Hackathons scheduled in San Francisco, Chicago and New York will be two-day events where innovative, digital experts will come together to collaboratively build mobile application prototypes designed to address small business challenges such as finding a technology that can assist with cash flow and marketing needs, as well as building effective solutions to support the financial success of small businesses and microbusiness.

The first hackathon in the series will kick off in San Francisco on June 21 at 9 a.m. beginning with informative presentations that state the challenge starting at 10 a.m. Coding will begin immediately after and will end at 11 p.m. that night with participants coming back the following morning to continue working. A panel of leaders and experts from the small business and technology space will serve as judges. The event will conclude at 3 p.m.

The winners of each hackathon will receive a prize package that includes a $10,000 grand prize and two $5,000 runners up prizes.

Schedule of Hackathon Events:

  • San Francisco, CA at Capital One 360 Café, 101 Post Street, 2nd Floor, on June 21 – 22
  • Chicago, IL at 1871 Start-up Incubator, 22 W. Merchandise Mart Plaza, 12th Floor, on July 19 – 20
  • New York, NY at Capital One 360 Café, 968 3rd Avenue, on September 13 - 14

To learn more about the SmallBizDev Hackathons and register as a participant in one of the three events, please visit www.smallbizdevhackathon.com.

1The study was fielded online by Toluna from April 4 – April 9, 2014 and reached 300 small business owners and upper-level-managers who are the decision makers for both finance and technology. A small business was defined as a company employing 100 people or less.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $204.5 billion in deposits and $297 billion in total assets as of December 31, 2013. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has more than 900 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

About CFSI:

The Center for Financial Services Innovation (CFSI) is the nation’s authority on consumer financial health. CFSI leads a network of financial services innovators committed to building a more robust financial services marketplace with higher quality products and services. Through its Compass Principles and a lineup of proprietary research, insights and events, CFSI informs, advises, and connects members of its network to seed the innovation that will transform the financial services landscape. For more on CFSI, go to http://www.cfsinnovation.com and follow on Twitter at @CFSInnovation.

About D2D Fund:

Doorways to Dreams (D2D) Fund strengthens the financial opportunity and security of low and moderate income consumers by innovating, incubating, and stimulating new financial products and policies. Operating at the intersection of the private, non-profit and public sectors, D2D incubates and promotes practical applications with social impact that might otherwise lack a champion to nurture and bring them to market. D2D was incorporated as a 501(c)3 not-for-profit organization in 2000 and is headquartered in Allston neighborhood of Boston, across the street from Harvard University’s Innovation Lab. For more on D2D, visit www.d2dfund.org.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...