Hosted by Bank of Queensland (BOQ) and technology start-up hub River City Labs, over 130 budding innovators and tech-heads pitch their business idea and
solution to a panel of high-profile tech judges, including Queensland’s Chief Entrepreneur, Mark Sowerby, Ezidebit founder Michael Dempsey, Infocus Chief Operating Officer, Jo Willoughby, and BOQ’s Chief Information Officer, Donna-Maree
54-hours of team work, validation, coding, more validation, pivoting ideas, validation, pitch practice was required in order to address one of four problems
faced by the financial technology industry.
The winning crew looked to solved the problem of engaging millennials through some form of disruption in technology.
Their solution? SuperTransparent. A new breed of super, using an interactive mobile app to provide real-time updates on your super balance, fees and transactions.
The app would allow users more control and choice about where their money is invested, or more accurately where they don't want it invested. Users
receive all this user experience and service for a small fixed rate fee.
Spokesperson for the group Ruth said "We had to basically create a complete business in 48 hours, it was crazy". With a website created they manage
to raise over $7.2 million in Superannuation pledges with real people who wanted to this idea be something real.
One user questioned in the initial validation process said, "I don't know how much Super I have, but I know I have more than few seperate accounts".
Our very own founder Gary Swanepoel, one of the winning team's members said, "We found this response to come up repeatedly. We surveyed over 100 people
online aged between 18 to 35 years, and nearly 50 in person and we were all surprised how many times this comment was made. When we further discovered
the amount of fee's paid on each account, including multiple life insurance policies we new we had stumbled across a major problem in the
The team comprised of three resident Junction 2 co-workers Gary Swanepoel, Mike Dekker and Tarah Swanepoel alongside Coding at the Beach members Ben Duncan,
Rick Pruss and Ruth Luscombe.
Winning the $5000 cash prize, as well as a HP Tablet each, they now go on to meet with Shark Tank's Steve Baxter for some one-on-one mentoring to get
their idea off the ground.
Congratulations team. We're all very proud of you!
If you want to pledge your support you can still visit the website http://supertransparent.io