Wema Bank Plc has concluded the fifth edition of Hackaholics, a flagship innovation competition that helps tech-savvy youth pioneer solutions using social technologies for impact.
The event is a bold move and commitment to promote youth innovation and entrepreneurship.
The fifth edition of Hackaholics was held in Lagos State with the theme “Meta Idea: Fostering Growth in Africa through Innovation”.
At the grand finale, Managing Director/CEO Moruf Oseni announced the increase in the prize pool from N75 Million to N145 Million
He stressed on Wema Bank’s vision to not only empower the youth but also to give people the opportunity to shape their own future.
He said: “Our goal is not just to support the youth but to help them write a successful path in their lives and futures.”
This year’s Hackaholics features:
The initial prize allocation includes:
Surprisingly, Oseni doubled the prize pool during the event, increasing the total prize from N75 million to N145 million. He stressed that the Nigerian economy must focus on initiatives that provide sustainable energy to the country.
“So, in my opinion, as a Nigerian economy, we need to start investing in areas that provide sustainable energy to our country. Considering N75 million, I don’t think I will stop until this event is over because we have to work harder.
With the right investment in STEM, I have no doubt that Nigeria’s brilliant youth will continue to focus on entertainment and sports but will also embrace the catalyst that will propel Nigeria to greatness.”
Oseni added that platforms like Hackaholics can help Nigeria overcome challenges and achieve greatness.
“We don’t have to follow the path of other great nations. We can use this platform, which I call ThingsOut, to outpace Nigeria and take it where it needs to be.”
Modified Prizes
Winners
Oseni highlighted the critical role of STEM (Mathematics, Computer Science, Science and Technology) in Nigeria’s path to sustainable development. He argued that no country can progress without prioritizing science and technology and called on leaders to match their intentions with concrete actions.
“I must say that this is not enough because no country has successfully transitioned from third or second world status without making significant investments in science, technology, engineering and mathematics. It is therefore incumbent on public and private sector leaders to translate commitments into action and put their noble intentions into action.”
Oseni added that unless investment is made in nuclear science, the country’s aspirations for growth will remain elusive. Laying the foundation for innovation and nation building.
The event underscored the Bank’s commitment to promoting technology-based solutions in a wide range of sectors. 35 teams competed for the grand prize in a groundbreaking display of creativity and innovation.
Top ten finalists recognized for their breakthrough ideas
Call for partnership and collaboration
Oseni called on private and public stakeholders to work together to create an enabling environment for technology-based innovation.
“Some of the largest companies in the United States started out in college. Nigeria can emulate this by financially supporting the ideas of our youths to create world-class solutions to boost our economy,” he said.
