Wema Bank/ALAT has launched Hackaholics 4.0 application for tech startups in Nigeria, tagged ‘Re-imagined‘.
Hackaholics was birthed in 2019 to bring together a community of fintech to solve industry-identified problems following the launch of ALAT.
The initiative has since then received over 2000 participants (400% growth in application) and disbursed $50,000 in grant prizes.
Now in its fourth edition, the initiative aims to help the tech ecosystem build and launch the next most innovative solution that would come out of the shores of Africa.
Hackaholics is a youth-focused startup competition aimed to provide a platform that enables innovators and startup founders with tech-driven or tech-enabled game-changing ideas and products to grow and blitzscale their ventures.
Speaking on the announcement Tunde Mabawonku, Chief Financial Officer, Wema Bank, said, “We are gathering to code and give us options and solutions for the future. Gradually, we are impacting society, we are bringing in tech talent and grooming for the next generation. We are creating a tech talent platform, so you don’t have to wait to finish university before you can start using your tech skills. We are using this platform to bring them on board and using their ideas to benefit the economy.”
Attesting his testimonial to the initiative, a past beneficiary, Nemi Otobo, Marketing Lead & Founder, Roomme said, “The highlight for me was winning, seeing it as an endorsement of our work at Roomme. It was also a huge encouragement for me to keep building. Far more than the competition, it was a platform to create lifelong business networks and friendships, courtesy of the ALAT team for their grand reception and hospitality during the finals.”
Benefits of participation
- Grant to build / scale solutions (Winner – N3m, First runner-up – N2.5m, Second Runner-up – N1.5m)
- Support for product and integration
- Visibility for your team/solution
- Access to the community of founders
- Coaching / Mentorship for founders
- Learn from renowned industry experts
In addition, as a way of honoring its commitment to inclusivity, women-led teams will be given recognition and rewards (N1m)
Eligible Verticals to participate
Beyond Fintech, Hackaholics 4.0 is expanding by exploring more verticals:
- Gender-Based Violence
- Financial Inclusion
Available pitch centers for this year’s edition:
- Lagos State – Lagos State University
- Southwestern states – Federal University of Technology, Akure
- Southeast / South southern states – University of Benin
- Ogun state – BABCOCK University
- Northern states – NILE University, Abuja
- Northern states – University of Abuja
How to apply
Hackaholics 4.0 is open to both students and graduates who are problem-solvers, developers, designers, and creative thinkers. Click here to apply
Don’t miss important articles during the week. Subscribe to techbuild.africa weekly digest for updates