Wema Bank, a leading financial institution, has revealed the top 25 finalists set to compete for a grand prize of over N50 million in the highly anticipated Hackaholics 4.0 competition.
This innovative event is part of Wema Bank’s commitment to fostering youth and startup talent in the tech space.
The Hackaholics initiative, which started in 2019, has scoured Nigeria’s six geopolitical zones and engaged with 37 universities across Africa to unearth creative undergraduate students, youth, and startups. These participants are challenged to develop tech-driven solutions to real-world problems.
This year’s edition, themed ‘Hackaholics 4.0: Reimagine,’ has attracted participants who pitched groundbreaking ideas spanning various sectors, including education, climate, gov tech, health, gender-based violence, financial inclusion, entertainment, fintech, insurance, and civic tech.
The top 25 finalists, who have gathered in Lagos for a week-long digital empowerment program, received valuable mentorship from notable tech corporations such as Microsoft, KPMG, Samsung, Paystack, Flutterwave, and Dream Space.
The competition will be judged by a panel of distinguished individuals, including Ireayomide Oladunjoye, the Managing Director and Chief Executive Officer of Endeavor Africa, Adeoluwa Akomolafe, Chief Information Officer of Wema Bank, and Ayodele Olojede, Wema Bank’s Divisional Head, Retail and SME.
Wema Bank’s commitment to innovation is further evident in its prize distribution, with N15 million for the winner, N10 million for the first runner-up, N7 million for the second runner-up, and N5 million reserved for any female-led team to promote gender diversity in tech.
Additionally, N22 million will be allocated to University Stem endowment.
This initiative underscores Wema Bank’s dedication to supporting the growth of technology-driven innovation in Nigeria, fostering economic development, and enhancing the lives of Nigerians.
With Hackaholics 4.0, Wema Bank continues to lead the charge in creating a vibrant digital innovation ecosystem in the country.
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