Wema Bank Plc on Monday announced that it will reward winners with prizes valued at ₦75 million during its youth and startup-focused tech competition, Hackaholics.
Wema Hackaholics was founded in 2019 with the goal of fostering the inventiveness and spirit of entrepreneurship of Nigerian youths by providing them with a forum to actualise their tech-driven ideas.
The grand finale of Hackaholics 5.0 is scheduled for November 27, 2024, under the theme, “Meta Idea: Catalysing Africa’s Growth Through Innovation,” to showcase how technology can drive Africa’s development by leveraging the continent’s growth potential through innovation and digital transformation.
Read also: FNB Connect embraces eSIM, offering faster activation and 100GB Free Data
A platform for innovation and growth
The event will gather top innovators from universities and tech communities nationwide, who will pitch their Digi-Tech solutions to address real-world challenges and enhance Africa’s economic and social progress.
Moruf Oseni, the MD/CEO of Wema Bank, remarked, “Hackaholics is more than a competition; it is a movement to equip Nigeria’s youth with the skills, networks, and resources needed to drive Africa’s digital transformation.” He emphasised that this year’s theme serves as a call to action for young innovators to envision solutions that capitalise on Africa’s growth potential.
Read also: Al Mada Ventures acquires YoLa Fresh to strengthen Morocco’s agritech supply chain
Exciting prizes and opportunities
Participants will compete for valuable cash prizes, grants, and access to Wema Bank’s extensive network of investors and industry experts. This year’s total prize pool amounts to ₦75 million, with the winning team receiving ₦30 million, the first runner-up ₦20 million, and the second runner-up ₦15 million. Additionally, a special grant of ₦10 million will be awarded to a female-led team to promote gender diversity in tech innovation.
Wema Bank’s Hackaholics reflects the bank’s commitment to shaping Africa’s future through innovation and entrepreneurship. This year’s competition began with a nationwide call for entries and has engaged over 10,000 aspiring tech innovators across Nigeria. With 2,297 applications submitted across eight physical pitch centres and one virtual pitch centre, 34 innovators are set to present their ideas at the pre-pitch stage before the grand finale in Lagos. Through Hackaholics, Wema Bank has created a platform for youth to transform their creativity and entrepreneurial spirit into actionable tech solutions that address some of Africa’s most pressing challenges.
Don’t miss out on this exciting event! Click here to register and seize the opportunity to showcase your innovative ideas at Hackaholics.