Beyond N300M: What Wema Bank Hackaholics Revealed About the Future of Nigerian Innovation
Okey Chukwuemeka There is something quite remarkable about watching young people present solutions to problems that many of us have lived with for years, sometimes accepting them as part of
The Wema Bank Hackaholics 7.0 event held in Lagos showcased the potential of Nigeria's innovation ecosystem. The event, themed "Festival of the Future," brought together innovators, entrepreneurs, and technology leaders. With 5,329 participants and 1,632 ideas, 59 teams emerged as finalists, with 11 winning teams receiving a combined N300 million in funding.
This highlights the commitment of Wema Bank, which has been supporting innovators since 2019, engaging over 50,000 participants and supporting over 10,000 startups across three countries. The winning solutions addressed various sectors, including agriculture, healthcare, education, environmental sustainability, accessibility, and social issues.
Notable winners included Niteon Nwose for an agricultural technology solution, Craft Planet for transforming plastic waste into building materials, SocialSign for improving communication for hearing-impaired individuals, and Harthio for mental wellness support. The event also recognized women-led solutions, emphasizing the importance of inclusivity in the technology ecosystem.
While winning a competition does not guarantee success, Wema Bank's consistent support for innovators since its inception in 2019 demonstrates a commitment to helping promising ideas develop and reach their full potential.
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