Nigerian Tech Startups Set To Compete In Zenith Banks Annual Innovation Challenge

Zenith Bank has unveiled the fourth edition of Zecathon, its flagship startup competition and incubation program. The initiative targets early-stage Nigerian startups developing solutions across multiple sectors, including embedded finance, cybersecurity, fintech, healthtech, agritech, and e-commerce.

Group Managing Director Dame Adaora Umeoji, OON, emphasizes Zenith Banks commitment to fostering Nigerias startup ecosystem. The program combines a pitch competition with a six-week incubation period designed to provide mentorship, exposure, and strategic partnerships.

Prize money totaling ?77.5 million awaits successful participants. The top three winners will receive ?25 million, ?20 million, and ?15 million respectively. Seven additional finalists will each secure ?2.5 million. Beyond financial rewards, winners gain access to a comprehensive incubation program running from December 2024 to February 2025.

Applications remain open until November 15, 2024. Finalist announcements follow on November 18, with physical pitch competitions scheduled for November 21. Eligible startups must be registered Nigerian businesses operating in specified sectors with viable products or MVPs showing market traction.

Last years competition highlighted emerging talent in Nigerias tech sector. Sync claimed first place with ?20 million, followed by Skil Up With Kahdsole securing ?15 million, and Tribapay earning ?10 million. Seven additional finalists received ?2 million each while participating in the incubation program.