As the financial industry evolves to address broader societal concerns, Open Geneva's 6th annual Sustainable Finance Hackathon adapted to reflect these changing priorities. This year's event expanded its focus beyond traditional banking to encompass themes like Corporate Social Responsibility (CSR) and emerging technologies, thanks in large part to the innovative challenges proposed by students from the University of Geneva's "Psychology of Finance" class, led by Professor Kerstin Preuschoff.

 Learning and Innovation beyond the Classroom

Professor Kerstin Preuschoff, a neuroscientist and passionate advocate for interdisciplinary collaboration, has been actively involved in hackathons since 2017. Recognizing the potential of hackathons to foster innovation and provide students with unique learning experiences, Kerstin encourages her students to become involved: "I see these hackathons as an extension of my teaching. They provide students with a special opportunity to apply their knowledge in a real-world setting and collaborate with peers."  
Kerstin also explains that hackathons provide a platform for young people to rekindle a spirit of exploration which often gets lost in traditional education: "Around the age of six, most people transition to a more traditional classroom setting, which significantly limits their opportunities for hands-on experience.  Hackathons, however, provide a very practical approach to learning in a dynamic environment that encourages creativity, critical thinking and out-of-the-box solutions."

Besides involving her students, Kerstin also engaged as a participant in the #SFH24

4 Unconventional Challenges shaped by a New Generation of Global Thinkers 

Kerstin's students played a key role in the hackathon, developing 4 forward-looking innovation challenges:

• The Impact of a 4-Day Workweek: This challenge explored the potential benefits and drawbacks of reducing the standard workweek, examining its impact on employee well-being, productivity, and work-life balance.
• Empowering Employees for the AI Revolution: This challenge focused on the importance of upskilling and reskilling employees to prepare for the increasing automation of tasks and the rise of artificial intelligence.
• The Impact of Diversity and Inclusion on Profitability: This challenge investigated the link between diversity, equity, and inclusion initiatives and financial performance.
• Blockchain for Good: This challenge explored how blockchain technology can be leveraged to address global humanitarian and sustainability issues, such as child labor. 

The student-driven challenges, reflected a deep understanding of  interconnected global issues and a strong commitment to tackling challenges that impact the world as a whole. As Kerstin noted, “contrary to what many people might believe, the current generation of students is deeply interested in broader societal issues and what sets them apart is their natural inclination to think globally.” 

The team working on the challenge "Empowering Employees for the AI Revolution" 

Empowering Students to take Ownership 

To assist the students in identifying, exploring, and defining their challenges, Kerstin employed a structured, collaborative approach. Students first brainstormed individual ideas, then formed teams to develop the most promising concepts. With guidance from Lisa Cabado, Hack Manager from Open Geneva and Enrico Bergamini, Startup Analyst from Fongit, the students refined their challenges and gained valuable insights into pitching their ideas, clearly and persuasively.

This approach empowered the students to take ownership of their ideas and learning. As Kerstin explained, "Learning begins at the end of your comfort zone. We encourage students to step up, pitch their ideas, and experiment with new tools and techniques for collaborative learning and problem-solving. For many, this experience is transformative - challenging them to think differently, push their limits, and embrace new ways of working."

The hacking continues late at night

The Potential of Involving Young Minds to Shape Our Future Through Hackathons

The student-driven challenges demonstrated the big potential of involving young people in solving real-world problems in a participatory manner.

Two student-led challenges won the two favorite project awards of the hackathon, showcasing innovation and relevance. Kerstin emphasized the concrete impact of these projects, stating, “Beyond the awards, students developed tangible outputs like apps, course outlines, and websites. Some are even planning to continue working on their solutions, potentially turning them into products or services.”

As our world rapidly evolves, it’s imperative to harness the creativity, collaborative and problem-solving skills of young people. By providing them with opportunities to actively participate in shaping the future, we can inspire a new generation of leaders.

Kerstin concludes, “We must get younger generations involved early on, allowing them to shape the future in ways that suit their skills, values, and evolving needs. Hackathons are a crucial part of this process. These events can cultivate a generation equipped to address the challenges of tomorrow by allow young minds to contribute their ideas and create solutions that reflect their vision of the world they want to live in.”

A well-deserved pizza break for Sally Sow, UNIGE-student, and Kerstin Preuschoff