MasterCard has announced a global hackathon with a $100,00 grand prize. Continent-hopping through 10 cities in Asia, Europe, and the Americas throughout early 2015, the competition invites teams of up to 5 individuals to create eCommerce-related applications that utilize the MasterPass wallet API. Teams will also have access to MasterCard public APIs that aid in payments, data services, and security.
Co-hosted by AngelHack, 10 regional hackathons will be held in Sydney, Hong Kong, Singapore, Sao Paulo, Tel Aviv, San Francisco, Montreal, Istanbul, New York, and London. The 10 regional winners will then compete alongside MasterCard's own team in the Grand Finale Masters of Code hackathon in Silicon Valley for the $100,000 grand prize.
Each day-long event will culminate with all teams presenting a 2 minute product demonstration followed by a 1 minute Q&A session. Judges will be evaluating each team to award a maximum of 25 points across 5 categories: impact, design, creativity, simplicity, and usage of the MasterCard APIs.
In addition to cash, the grand prize also includes a 2 week bootcamp with the MasterCard accelerator program in Dublin, 6 months of mentorship from the MasterCard API team, and free payment processing for 12 months using MasterCard's Simplify Commerce payment platform. Mastercard is also allowing full product ownership of whatever is created at their events to the participants.