How Can EU Space Data Benefit the Financial World?

Europe Technology

Could Earth observation and GNSS technologies provide solutions to some of the current challenges in insurance, investment, and financial services? At the 4th CASSINI Hackathon, competing teams will be tasked to create products and services for the finance industry using EU Space data.


Taking place between the 4-6th November 2022, “Space for the Financial World” will be held online and in-person at 10 locations in Europe.  In Italy, the event will be hosted by the Fondazione E. Amaldi (FEA) in Turin at Fondazione Links premises. It’s an exciting opportunity with an impressive list of prizes that ranges from mentorship support to publicity and €1,000 in cash.


Utilising EU Space data

Space is here – and the CASSINI Hackathon series invites participants to make use of the extraordinary data, signals and information from the EU Space Programme, including Copernicus, Galileo and EGNOS.  Hackathon competitors will use space technologies to develop their own innovative solutions for one of three challenges:


  1. Enabling green and sustainable investment. How could you leverage European Space data, information and signals to support sustainable, impactful investments? We’re looking for tools to assist with sustainable operations, carbon offsetting and socially responsible investing. 
  2. Innovating financial tools and technologies. This challenge invites participants to build solutions for the future of insurance – creating services and products that support traceability, claims assessments, and agile insurance. 
  3. Advancing global financial intelligence. The physical movements of buyers and commodities could be leveraged to offer refined intelligence and mitigate risks for investors, insurers, and government agencies. How would you use EU Space data to advance market intelligence?


Opportunities in a high-growth market


Fiammetta Diani, Head of Market Downstream and Innovation at EUSPA (European Union Agency for the Space Programme), can’t wait to see this year’s projects:


 “The 4th CASSINI Hackathon is an exciting opportunity for European entrepreneurs; it’s always a great event, and I’m looking forward to the new wave of ideas. The EU Space Programme and its flagships Copernicus, Galileo and EGNOS offer huge potential to develop new solutions in insurance and finance. Space data integration goes hand in hand with the sectors’ digitalisation, enabling sustainable investment, new and innovative financial tools and technologies, and more accurate market intelligence. With this sector expected to become the largest contributor to global EO revenues by 2031, it is really an exciting area for innovation. We are looking forward to seeing how participants take up the challenge and seize this unique opportunity to engage with EU space technologies.”


Prize packages


FEA offers cash prizes of €500 for the winning team and €300 and €200 for second and third places. Those teams will also receive mentorship packages from partners including the ESA Business Incubation Centre (Turin) and the Hypatia Research Consortium. Reale Mutua will sponsor Proof of Concepts for the most interesting ideas. In addition, winning pitches will be publicised via the Italian Banking, Insurance and Finance Federation, providing valuable exposure to their national network.


Fondazione E. Amaldi (FEA) is the Italian institution for space applied research and technology transfer. Founded in 2017 by the Italian Space Agency and the Hypatia Research Consortium, FEA supports technology research as a fundamental tool for the economic development, innovation and improvement of Italy and Europe. It has become a hub connecting the European and the national stakeholders of the space entrepreneurial ecosystem, with many influential partners, spanning from ESA, ASI, investors and corporations who will offer meaningful value to the Hackathon participants.


Lorenzo Scatena, Secretary General at Fondazione E. Amaldi looks forward to welcoming the participants: “Turin, the Capital of the Alps, is one of Italy’s main industrial centers where  finance, insurance and space combine. It  is also a flourishing, industrious and cosmopolitan city, home to the best universities, colleges and academies along with a prestigious cultural heritage. In this frame, the participants of the 4th CASSINI Hackathon in Turin will access unmatched competences, experiences and long-term value.”


Registration for the 4th CASSINI Hackathon is now open:


1. The Italian edition of the 4th CASSINI Hackathon will be held at the Links Foundation in Turin.