The top three winning solutions in the just concluded UnionX Innovation Challenge have been announced!
Tade Samson and Tobiloba Awogbemi, emerged as first prize winners, receiving N2million for Quizac – their EdTech solution that creates higher learning engagement through gamification and improves retention using Artificial Intelligence.
First runners up, Khalid Ismail and Bobby Ojeh, who built Gistabyte – a social payment app, received N1.5million, while the second runner-up Folarin Olulana received N1million for his initiative T40- A logistics company that has digitalised intercity travel across Africa.
The UnionX Innovation Challenge is Union Bank’s Innovation Challenge series focused on discovering, showcasing, and supporting eligible entrepreneurs with innovative, technology-focused Minimum Viable Products (MVPs).
Following the entry period, a cohort of 10 semi-finalists were selected to participate in a boot camp organised by Greenhouse Capital. The cohort was subsequently invited to pitch their innovative models at a virtual Demo.
The panel of judges included Union Bank’s Head of Retail Banking and Digital, Lola Cardoso; Head, SME Banking, Chidi Ileka; Chief Credit Officer, Olajumoke Odulaja along with the Co-Founder/CEO of Indicina, Yvonne Johnson; Co-Founder and Chief Investment Officer of Startupbootcamp Africa, Zachariah George.
Speaking at the virtual showcase event, Union Bank Chief Executive Officer (CEO), Emeka Okonkwo said – “Innovation is a key part of who we are at Union Bank and has been crucial to our growth through the years. We pride ourselves on being a ‘104-year-old start-up’, combining the wisdom of age and the flexibility and agility that innovation brings. I applaud the finalists and winners for their impressive ideas as we look forward to deeper engagement with the larger ecosystem.”
While expressing their gratitude to Union Bank, Quizac’s co-founders, Tade Samson and Tobiloba Awogbemi said: “We are excited to have won the UnionX Innovation Challenge. We would like to appreciate Union Bank and GreenHouse Capital for putting together this amazing opportunity not just for Quizac, but also all the 10 finalists. We look forward to working with Union Bank while maintaining our vision to make learning as fun and engaging as possible for every student.”
Union Bank also unveiled its ‘Developer’s Portal’ – a one-stop shop where startups can test and validate their ideas in a sandbox environment while progressively moving towards launching their products.
Lola Ekugo, the Head of Digital and Innovation at Union Bank also reiterated Union Bank’s commitment to driving agile innovation and collaborating with startups to enrich its bouquet of services for its customers. For more updates on the UnionX Innovation Challenge, follow Union Bank on Facebook, and Instagram