Wema Bank has awarded N300 million to 11 winning teams at the seventh Hackaholics innovation programme, to support the development and commercialisation of technology-driven solutions addressing economic and societal challenges.
The funding was announced at the grand finale of Hackaholics 7.0, with the theme: ‘Festival of the Future’, in Lagos at the weekend.
The contest 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, 59 participants emerged, while 21 finalists were shortlisted through a multi-stage evaluation to compete for prizes across four categories: Startup/Ideathon, Social Impact, Women-Led and Hackathon.
The overall winner, Tony 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, while David Lawani of All-Arbitrates came third with N20 million for his digital platform designed to improve access to arbitration and dispute resolution.
In the Social Impact category, Kabir Olaosebikan of Craft Planet emerged winner, receiving N40 million for his innovation that converts plastic waste into sustainable building materials.
Samuel Shonubi of SocialSign came second, receiving N30 million for his sign language technology solution aimed at improving communication and digital inclusion for people with hearing impairments, while Oluwaseyi Akinlolu of Harthio secured third place with N20 million for his mental wellness solution.
For the Women-Led category, Zainab Adeagbo of MamaAlert emerged winner, receiving N20 million for her digital healthcare solution designed to improve women’s access to timely healthcare services.
Precious Zino of URI secured second place with N10 million for her artificial intelligence-powered marketing solution, which helps businesses improve customer engagement and strengthen their digital presence.
In the Hackathon category, Kelvin Nnadi of Neural Forge emerged winner, receiving N30 million for his AI-powered medical diagnostic solution.
David Campbell of Nexa AI came second with N20 million for his AI-powered customer intelligence solution, while Uti Henry of Vhorde secured third place, receiving N10 million for IRIS, an AI-powered smart glasses innovation designed to help visually-impaired people navigate their surroundings independently.
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.
He said: “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 these ideas receive the support and resources required to translate into meaningful impact.
“With Hackaholics 7.0, we are putting our money where our mouth is. 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.
“Through Hackaholics, we will continue to identify promising talent, support groundbreaking solutions and empower the people building a better future for Nigeria and Africa.”
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.
He said: “I feel super excited; I give praise to God at the end of the day. We built a solution that connects African farmers to international buyers and we didn’t just stop there, we want to be able to provide credit for them to grow from horizontal farming to greenhouse so beyond just export, beyond just straight finances.
“And this shows that Wema Bank is backing companies that are building the future in Nigeria.”
Since its launch in 2019, Hackaholics has evolved into a platform for identifying and supporting entrepreneurial talent across Africa.
According to the bank, the initiative has recorded more than 21,000 applicants across seven editions, engaged over 50,000 participants, supported more than 10,000 start-ups across three countries and contributed to the development of over 100 solutions from scratch.
The latest edition featured innovations spanning agriculture, healthcare, education, environmental sustainability, financial services and artificial intelligence, highlighting the growing role of technology-driven enterprises in addressing development challenges.
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.
