Fiji Launches Youth-Driven Hackathon to Diversify Its Economy

The Governor of the Reserve Bank of Fiji, Ariff Ali, is encouraging young entrepreneurs to take an active role in shaping the nation’s economic landscape. This message was delivered during the launch of the inaugural Fiji Innovation Hub Hackathon in Suva, where he stressed the importance of innovation as a critical necessity, particularly for smaller, vulnerable economies such as Fiji.

Ali emphasized that countries that do not embrace innovation are at risk of lagging behind in an ever-evolving technological world. He articulately conveyed a vision for a future where creativity flourishes, technology enhances the lives of citizens, and significant achievements are within reach.

Fiji’s economy currently leans heavily on sectors like tourism, agriculture, and remittances, which are particularly susceptible to the impacts of pandemics, climate change, and global economic slowdowns. In light of this, Ali highlighted the potential for digital innovation to facilitate diversification into emerging industries such as FinTech, AgriTech, HealthTech, ClimateTech, and the creative sectors.

The two-day hackathon is designed not merely to raise awareness but to spur actionable change, inviting participants to tackle real-world challenges. Teams will work on developing prototypes using digital tools to create practical solutions within three key themes: FinTech, sustainability, and the ease of doing business.

With support from partners like Mastercard, HFC Bank, the Government of Fiji, UNDP, and Fiji Airways, the event has expanded its total prize pool from $4,500 to an impressive $15,000. Each winning team will receive $3,000, while runners-up will be awarded $2,000, along with additional consolation prizes.

Furthermore, participants will benefit from the guidance of 24 certified mentors throughout the hackathon, fostering an environment conducive to innovation and collaboration. This initiative not only highlights the importance of youth engagement in economic development but also signals a hopeful shift towards a more resilient economy for Fiji.