The Stock Exchange of Thailand (SET) has organized the SET Hackathon 2023 under the theme: Wealth and Sustainability, marking its first-ever hackathon open to the general public. The participants have presented ideas for using SET's database on environmental, social and corporate governance aspect (ESG) for investors' and listed companies' benefits, integrating into analysis and development of sustainable business operations. A total of four awards were granted to the teams with outstanding solutions. ESG EZ Invest team, comprising engineers and analysts from two listed companies and the leading consulting firms, was awarded the first prize, with the proposed idea of an application development based on data of SET ESG data platform for better access to sustainable investing.
SET Senior Executive Vice President Soraphol Tulayasathien said that the competition aimed to promote the use of SET's database on ESG to foster innovations that enhance investors and Thai listed companies towards sustainable growth, in line with SET's vision 'To Make the Capital Market Work for Everyone'.
"The SET Hackathon 2023 has been held to truly promote the use of ESG data and information in a concrete way. It has opened up the opportunity for the participants to showcase ideas and creativity, and develop innovations based on the adoption of SET's ESG database. There were 69 teams, whose members were from various careers and backgrounds including students, engineers, analysts, financial consultants, tech firms, securities companies, financial and investment organizations, resulting in diverse and creative ideas. Of the total submissions, 12 teams made it to the final round of pitches. Every team has received advice and suggestions from experts in both data analytics technology and sustainability. We sincerely congratulate the award winners and their valuable ideas which will be further developed for the benefits of the sustainable development of the Thai capital market," added Soraphol.
"How can we help Thai investors and listed companies to leverage ESG data for sustainable growth?" was the SET Hackathon 2023 competition topic. The 12 finalist teams pitched their ideas to a panel of judges. The prizes were awarded as follows:
- 1st prize : ESG EZ Invest team pitched the usage of data from SET ESG data platform to develop application that facilitates investors to access sustainable investing more conveniently. Moreover, the application can measure the social and environment impacts from investment portfolios.
- 1st runner-up prize : The UNIQUE team showcased an AI-based ESG solution software to address the data distribution problems. The software provides advice to listed companies that want to improve their cost effectiveness and have environmental management.
- 2nd runner-up prize : Setainable team proposed idea to make Sustainability-linked loans using data from SET ESG data platform accessible to small and medium-sized enterprises (SMEs). The solution is a win-win for borrowers and commercial banks. Borrowers' financial costs will be reduced while commercial banks can attract more customers.
- Honorable mention : MOTABENA team pitched ESG data dashboard that helps new generations to better apply ESG data to investment and create community that shares views on sustainable investing. Besides, the team proposed to provide ESG learning course via metaverse.
For further information about the selected and award-winning works, please visit www.set.or.th/th/education-research/research/activities/set-hackathon