Wema Bank awards N300m to 11 innovators at Hackaholics 7.0
AI Executive Briefing
Gemini Flash AI~45s readWema Bank concluded its seventh edition of the Hackaholics innovation programme by awarding N300 million to 11 winning teams. The initiative aims to support the development and commercialisation of technology-driven solutions for Nigeria's economic and societal challenges.
Context & Background
- ✦Hackaholics is a long-standing innovation programme by Wema Bank that has supported over 100 solutions since its inception.
- ✦The programme focuses on nurturing young Nigerian innovators in sectors such as agriculture, healthcare, education, and financial services.
Key Figures & Named Entities
•Moruf Oseni, Managing Director and CEO of Wema Bank, stated that the funding reflects the bank's commitment to nurturing ideas that shape the economy.•Tony Niteon Nwose received the N60 million grand prize for his agricultural technology solution.
Outlook & Next Steps
The winning teams are expected to use the funding to further develop and commercialise their technology-driven solutions to address specific economic and societal challenges.
Key Takeaways
AI Summary- Wema Bank awarded a total of N300 million to 11 winning teams during the Hackaholics 7.0 grand finale in Lagos.
- The competition attracted 5,329 participants who generated 1,632 innovative ideas across seven pitch centres nationwide.
- The grand prize of N60 million was awarded to Tony Niteon Nwose for an agricultural technology solution connecting farmers to markets and financial services.
Key Facts:Seven editions: The Hackaholics initiative has engaged over 50,000 participants and supported more than 10,000 startups across three countries over seven editions.N300 million: Wema Bank awarded a total of N300 million to 11 winning teams at the Hackaholics 7.0 finale.
Editorial Excerpt
Wema Bank has awarded N300 million to 11 winning teams at the seventh edition of its Hackaholics innovation programme, to support the development and...
Frequently Asked Questions About This Story
What was the theme of the Hackaholics 7.0 competition?
The competition was themed 'Festival of the Future'.
How many finalists were shortlisted to compete for prizes?
Following a nationwide selection exercise, 21 finalists were shortlisted through a multi-stage evaluation process.
