Capital One Spark Business Presents Hackathons Administered by
CFSI & D2D in San Francisco, Chicago, and New YorkSan 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
MCLEAN, Va.--(BUSINESS WIRE)--
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
“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
“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
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
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:
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.
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.
Chris O’Neill, 804-284-5443
Source: Capital One Financial Corporation