Nigeria: Wema Bank’s Hackaholics 4.0: 10 Finalists Announced, Sharing Over N50m in Cash Prizes

On Monday, ten finalists were unveiled during Wema Bank’s Hackaholics 4.0 grand finale pre-pitch competition, where they collectively secured over N50 million in cash prizes. This initiative aims to foster innovation and technology-driven solutions within a solution-focused environment.

Wema Bank’s youth and start-up-focused program serves as a platform for young innovators with groundbreaking tech-driven concepts and products to bring their creative ideas to life. It also provides them with opportunities to enhance their skills and gain a competitive edge in the global technology and digital arena.

The ten finalists include:

1. Jane Agbaohwo for Team Ireti
2. Nelson Nelson-Atuonwu for Team Grip
3. Ebulue Henry for Team Raptor
4. Bonojo Adedayo for Team Pup Industries
5. Olukayode Fadairo for Team MumAlive
6. David Campbell for Team Naija Box
7. Oluwatimilehin Ogunme for Team Trakka
8. Tochukwu Ifeanyi for Team Outsidee
9. Damilare Ololade for University X
10. Gift Akobundu for Chao

The event, themed “Hackaholics 4.0: Reimagine,” was held at Wema Bank Headquarters in Marina. Solomon Ayodele, Head of Innovation and Emerging Technologies at Wema Bank, highlighted the impact of the Hackaholics initiative, which has been running since 2019. The program has traversed Nigeria’s six geopolitical zones, reaching 37 universities across Africa. Over 300,000 individuals and businesses in the country have leveraged this visionary hackathon to break into the tech industry, transforming their technology passion into sustainable sources of income. Participants have received grants totaling over $200,000 from Wema Bank.

The participants pitched innovative ideas for impactful solutions spanning various sectors, including education, climate, government technology, health, gender-based violence, financial inclusion, entertainment, fintech, insurance, and civic technology.

In preparation for the grand finale pre-pitch, the finalists received invaluable executive mentorship from renowned national and global technology corporations such as Microsoft, KPMG, Samsung, Paystack, Flutterwave, and Dream Space. This hands-on insight prepared them for the competitive Hackaholics 4.0 event.

Femi Awoniyi, a Startup Fund Manager at Google and one of the panel judges, shared that the judging criteria included evaluating the strength of the teams, the innovation behind the proposed solutions, the viability of the business models, and the potential for scalability.