11 Innovators Get N300m At Wema Bank Hackaholics Finale

Wema Bank has awarded N300 million to 11 winning teams at the seventh edition of its Hackaholics innovation programme to support the development and commercialisation of technology-driven solutions that address economic and societal challenges.

The funding was announced at the finale of Hackaholics 7.0, themed Festival of the Future, held in Lagos.

The competition attracted 5,329 participants and generated 1,632 ideas and innovative solutions across seven pitch centres in Uyo, Kano, Yaba College of Technology, Benin, Ibadan, Enugu and Lagos.

Following the nationwide selection exercise, 59 participants emerged, while 21 finalists were shortlisted through a multi-stage evaluation process to compete for prizes across four categories: Startup/Ideathon, Social Impact, Women-Led and Hackathon.

The overall winner, Tony Niteon Nwose, founder of Niteon, received the N60 million grand prize for his agricultural technology solution connecting farmers to processors, financial services and markets.

In the Startup/Ideathon category, Emmanuel Adeboje of Acceede emerged first runner-up, receiving N40 million for his education-focused innovation.

In the Social Impact category, Kabir Olaosebikan of Craft Planet emerged as the winner, receiving N40 million for his innovation that converts plastic waste into sustainable building materials.

For the Women-Led category, Zainab Boluwatife Adeagbo of MamaAlert emerged winner, receiving N20 million for her digital healthcare solution designed to improve women’s access to timely healthcare services.

In the Hackathon category, Kelvin Nnadi of Neural Forge emerged winner, receiving N30 million for his AI-powered medical diagnostic solution.

Speaking at the event, the managing director and chief executive officer of Wema Bank, Moruf Oseni, said the funding reflected the bank’s commitment to providing practical support for entrepreneurs developing solutions to pressing economic challenges.

“At Wema Bank, we believe that the future of our economy will be shaped by the ideas we recognise, nurture and invest in today. Across Nigeria, young innovators are developing remarkable solutions to challenges in agriculture, healthcare, education, financial services and several other sectors. Our responsibility is to ensure that these ideas receive the support and resources required to translate into meaningful impact,” Oseni said.

He added that “the N300 million awarded to this year’s winners reflects our confidence in their ideas and our commitment to backing the next generation of entrepreneurs and technology leaders. We are investing in businesses that can create jobs, transform industries, unlock opportunities and contribute meaningfully to Nigeria’s economic growth.”

The overall winner, Nwose, said the award would support efforts to expand his agricultural technology solution and strengthen its capacity to connect African farmers to international buyers

The Bank said the N300 million investment was part of its sustained commitment to helping emerging businesses move beyond the idea stage through funding, mentorship, industry exposure and access to networks needed to scale their solutions.