Wema Bank Grants N50m To Winners of Hackaholics 4.0

Wema Bank has awarded winners of its Hackaholics 4.0, who are tech start-ups, a cumulative N50 million.

Hence, IRETI, a health-tech startup that helps women bridge the gap and manages breast cancer emerged winner of the Wema Bank’s Hackaholics 4.0.

The winner was announced on Friday during the Wema Bank/ALAT Hackaholics Digital Summit and Grand Finale tagged ‘Re-imagine: Disrupting the Ecosystem for Scale’ held in Lagos.

IRETI won the N15 million cash prize for the best pitched business, while GRIP – a fintech startup won N10 million as the first runner-up and Trakka won N7 million as the second runner-up. Similarly, Outsidee won N5 million for the Women Led Award – a prize instituted to support women in tech.

Other winners are; Naijabox as the best energy startup; PUP Industries won the award for the best climate subset; MumAlive won in the health startup category; Chao won the e-commerce category, while University-X won the edutech category.

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The 10 finalists for the Hackaholics 4.0 were: IRETI, GRIP, Trakka, Outsidee, Chao, Raptor, Pup Industries, University-X, Naijabox, and MumAlive, whose cumulative grants amounted to N50million.

Also, three universities won the Wema Bank Science, Technology, Engineering and Mathematics endowment fund. They are; Babcock University N10 million; Afe Babalola University N7 million and Nile University won N5 million respectively.

“Going forward we will be able to reach out to women in urban communities and also women in rural communities because we are partnering with NGOs.

We are reaching out to them; helping them to create awareness about breast cancer – it kills, but you stand a chance to live if you detect early and start treatment on time,”  founder and creative director, IRETI, Jane Agbaohwo, said after picking the prize.

The managing director/CEO, Wema Bank, Moruf Oseni, said a unique blend of traditional banking expertise, and technology embedded deeply in the bank’s system has afforded them the opportunity to support the growth of the tech ecosystem in Nigeria.

“We also recognise that any economy that is serious about sustainable economic and social development must pay serious attention to science, technology, engineering, and mathematics education. Entertainment and sports have put Nigeria on the global landscape in a positive light; but they cannot help to predict technology and infrastructure deficits that will see Nigeria achieve its true potential,” Oseni said.

Founder and CEO, Flutterwave, Olugbenga Agboola, in a keynote address said, events like Hackaholics 4.0 can provide valuable opportunities to founders who are leveraging technology to solve both local and global challenges. He commended Wema Bank for creating structures to support innovation in the fintech ecosystem.

ED, retail and digital business, Wema Bank, Tunde Mabawonku, said,  the digital summit transcends boundaries to unite digital innovators, visionaries, and industry leaders from across Nigeria. “It’s all about harnessing the collective potential of startup founders to redefine the boundaries of what’s possible in the digital age,” he stressed.

According to him, the theme for this year’s Hackaholics encapsulates the very essence of the bank’s innovation programme. “It embodies our sheer belief in a world where change is only constant. Our ability to reimagine and disrupt the status quo is what sets us apart,” Mabawonku said.