Nigerian Students Win ₦50 Million in Wema Bank’s Hackaholics 4.0 Competition

The journey to an extraordinary finale concluded last week when ten finalists from universities across Nigeria competed for the grand award prize at the Hackaholics 4.0 event.

The competition offered over N50 million in cash prizes distributed across five categories. The grand prize of N15 million was awarded to the Hackaholics winner, N10 million to the first runner-up, and N7 million to the second runner-up.

To encourage female participation in the tech sector, N5 million was specifically earmarked for any female-led team. Furthermore, a significant N22 million was allocated to university STEM endowments, demonstrating a commitment to nurturing the next generation of tech innovators.

Out of an impressive 3,000 applicants, these finalists presented their innovative ideas across ten diverse facets of human life, including education, climate, gov tech, health, gender-based violence, financial inclusion, entertainment, fintech, insurance, and civic-tech.

Femi Awoniyi, Startup Fund Manager at Google, expressed admiration for the ingenious solutions presented by the contestants. He highlighted that the Hackaholics summit not only provides crucial capital to the winners but also serves as a catalyst for inspiring others to come forward with groundbreaking innovations.

Meet the Winners at Hackaholics 4.0:

• Jane Agbaohwo, a medical student and founder of Ireti, an innovative health-tech startup, emerged as the winner of Wema Bank’s Hackaholics 4.0 competition. Her groundbreaking solution for early-stage breast cancer detection earned her the N15 million cash prize.
• Nelson Atuonwu, representing the startup Team Grip, secured the first runner-up position and received a N10 million cash prize.
• Oluwatimilehin Ogunme, representing Team Trakka, stood as the second runner-up, walking away with a commendable N7 million prize.

The event celebrated not only individual achievements but also collective efforts. Tochukwu Ifeanyi, CEO of Team Outsidee, was recognized for her victory in the women-led initiative, receiving a well-deserved N5 million cash award.

Other Awards:

• Bonojo Adedayo of Pup Industries won the climate tech award.
• Damilare Ololade of University X received the Edutech award.
• Ifeanyichukwu Henry from Raptor won the Energy Tech award.
• David Campbell of Team Naija Box secured the energy award.
• Olukayode Fadairo of Team MumAlive and Gift Akobundu of Team Chao were also awarded.

Hackaholics is a youth and startup initiative by Wema Bank that began in 2019. Its goal is to provide a platform for young entrepreneurs with tech-driven product ideas to turn their visions into reality, refine their skills, and gain a competitive edge in the global technology and digital space.

During the competition, Olugbenga Agboola, Founder/CEO of Flutterwave, commended Wema Bank for its consistent support in empowering FinTechs and small businesses, emphasizing their pivotal role in driving innovation within the tech ecosystem. Solomon Ayodele, Wema Bank’s Head of Innovation, echoed this sentiment, highlighting Hackaholics as a key player in reshaping Africa’s technological future.

Wema Bank’s steadfast commitment to nurturing tech talents through platforms like Hackaholics is undeniably paving the way for Africa’s technological transformation. The impressive solutions showcased at the event provide a compelling glimpse into the continent’s promising future of tech innovation.