Wema Bank Rewards Hackaholics 4.0 Winners with Over N50m

Winners have emerged in Wema bank’s Hackaholics 4.0 as the lender rewarded them with over N50 million at the grand finale held last week in Lagos.

According to a statement from the bank, one of the winners, IRETI, a health-tech startup that helps women bridge the gap and manages breast cancer, emerged winner of the bank’s Hackaholics 4.0.

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

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. Also, 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. The 10 finalists for the Hackaholics 4.0 are IRETI, GRIP, Trakka, Outsidee, Chao, Raptor, Pup Industries, University-X, Naijabox, and MumAlive.

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 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,” Jane Agbaohwo, founder and creative director, IRETI, said after picking the prize.

Speaking on the development, Moruf Oseni, MD/CEO, Wema Bank, said a unique blend of traditional banking expertise, and technology embedded deeply in the bank’s system had 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.

On his part, Olugbenga Agboola, founder and CEO, Flutterwave, in a keynote address, said that events like Hackaholics 4.0 could 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. Tunde Mabawonku, ED, Retail and Digital Business, Wema Bank, said that the digital summit transcended 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 said.

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.