Wema Bank Plc has rewarded 11 Nigerian innovators with a combined ₦300 million at the seventh edition of its Hackaholics innovation programme, reinforcing efforts to promote technology entrepreneurship and support the growth of indigenous startups.
The competition, themed “Festival of the Future,” attracted 5,329 participants who generated 1,632 ideas across seven pitch centres in Uyo, Kano, Yaba College of Technology, Benin, Ibadan, Enugu and Lagos.
According to a statement issued by the bank on Sunday in Lagos, the programme provided a platform for young entrepreneurs to develop technology-driven solutions to challenges across different sectors of the economy.
The overall winner, Tony Nwose, founder of Niteon, received the ₦60 million grand prize for developing an agricultural technology platform that connects farmers with processors, financial services and market opportunities.
In the Startup/Ideathon category, Emmanuel Adeboje of Acceede emerged first runner-up, receiving ₦40 million, while David Lawani of All-Arbitrates came third with ₦20 million for his digital alternative dispute resolution platform.
The Social Impact category recognised innovations addressing environmental sustainability, inclusion and mental wellbeing. Kabir Olaosebikan of Craft Planet won ₦40 million for converting plastic waste into sustainable building materials.
Samuel Shonubi of SocialSign received ₦30 million for his sign language technology, while Oluwaseyi Akinlolu of Harthio won ₦20 million for a mental wellness solution.
In the Women-Led category, Zainab Adeagbo of MamaAlert received ₦20 million for her digital healthcare innovation, while Precious Zino of URI won ₦10 million for an artificial intelligence-powered marketing solution.
The Hackathon category featured three technology-driven innovations. Kelvin Nnadi of Neural Forge received ₦30 million for an AI-powered medical diagnostic solution.
David Campbell of Nexa AI won ₦20 million for a customer intelligence platform, while Uti Henry of Vhorde received ₦10 million for IRIS, an AI-powered smart glasses innovation designed to assist visually impaired people.
Speaking at the event, Wema Bank’s Managing Director, Mr Moruf Oseni, called on banks, investors and corporate organisations to increase funding and institutional support for Nigerian startups.
Oseni said Nigeria possessed enormous entrepreneurial potential but needed stronger financial and institutional backing to transform innovative ideas into sustainable businesses.
He identified inadequate access to funding as a major obstacle to startup development, stressing that capital, mentorship, strategic partnerships and business networks were critical to helping young businesses scale.
He challenged financial institutions and investors to provide more resources and opportunities for young entrepreneurs to develop, commercialise and expand their innovations.
Oseni also encouraged the finalists to remain persistent, noting that entrepreneurial success required continuous learning, adaptability and a strong sense of responsibility towards customers.
The Hackaholics programme reflects the growing importance of private-sector investment in Nigeria’s innovation ecosystem, particularly in supporting young entrepreneurs developing solutions in agriculture, healthcare, financial services and other critical sectors.
