The Governor of the Reserve Bank of Fiji, Ariff Ali, has made an inspiring appeal to young innovators and entrepreneurs, urging them to take an active role in steering the nation’s economic future. His call to action was made during the launch of the first-ever Fiji Innovation Hub Hackathon in Suva. Ali emphasized the vital importance of innovation for small economies like Fiji and warned that failure to adopt innovative practices could leave countries further behind in an evolving digital landscape.
“This is our moment to shape the future in which creativity thrives, where technology empowers our people and new heights of achievements are made possible,” Ali stated. He highlighted the fragility of Fiji’s economy, which relies heavily on tourism, agriculture, and remittances—sectors that are vulnerable to pandemics, climatic events, and global economic fluctuations.
Ali underscored the opportunities created by digital innovation in emerging fields such as FinTech, AgriTech, HealthTech, ClimateTech, and the creative industry, all of which offer paths toward economic diversification and resilience.
The two-day hackathon, designed to ignite awareness and engagement, challenges participants to address real-world challenges by developing prototypes and utilizing digital solutions. Teams of five to six members will compete in three key focus areas: FinTech, sustainability, and ease of doing business. With influential partners like Mastercard, HFC Bank, the Government of Fiji, UNDP, and Fiji Airways, the prize pool has increased from $4,500 to an impressive $15,000.
Winning teams will receive $3,000 each, with runners-up taking home $2,000 and additional consolation prizes also available. Moreover, participants will receive mentorship from a team of 24 certified experts throughout the hackathon, fostering a collaborative environment that promotes innovation and creativity in Fiji.
This initiative not only highlights the commitment to nurturing young talent but also offers a promising avenue for Fiji’s economic transformation in a rapidly changing global landscape.