BusinessNewsNigeriaIRETI, health-tech startup emerges Wema Bank’s Hackaholics 4.0 winner

IRETI, a health-tech startup that helps women to bridge the gap and manages breast cancer, has emerged winner of the Wema Bank’s Hackaholics 4.0.

Reports have it that the winner was announced at the weekend during the Wema Bank/ALAT Hackaholics Digital Summit and Grand Finale tagged ‘Re-imagine: Disrupting the Ecosystem for Scale’ held in Lagos.

The grand event which was pioneered by the bank succinctly addressed and provided solutions to issues faced by startups and innovators in Nigeria, additionally awarding over N50 million cash prize to the top 4 innovators in the Hackaholics 4.0 youth and startup focused tech competition.

IRETI won the N15 million cash prize for the best pitched business, while GRIP – a fintech startup won N10 million as the first runner-up and Trakka won N7 million as the second runner-up.

Also, Outsidee won N5 million for the Women Led Award – a prize instituted to support women in tech.

Other winners are Naijabox as the best energy startup; PUP Industries won the award for the best climate subset; MumAlive won in the health startup category; Chao won the e-commerce category, while University-X won the edutech category.

The ten finalists for the Hackaholics 4.0 are IRETI, GRIP, Trakka, Outsidee, Chao, Raptor, Pup Industries, University-X, Naijabox, and MumAlive.

Three universities won the Wema Bank Science, Technology, Engineering and Mathematics endowment fund.

They are Babcock University N10 million; Afe Babalola University N7 million and Nile University won N5 million respectively.

“Going forward we will be able to reach out to women in urban communities and also women in rural communities because we are partnering with NGOs.

“We are reaching out to them; helping them to create awareness about breast cancer – it kills, but you stand a chance to live if you detect early and start treatment on time,” Jane Agbaohwo, founder and creative director, IRETI said after picking the prize.

Moruf Oseni, MD/CEO, Wema Bank, said a unique blend of traditional banking expertise, and technology embedded deeply in the bank’s system has afforded them the opportunity to support the growth of the tech ecosystem in Nigeria.

“We also recognise that any economy that is serious about sustainable economic and social development must pay serious attention to science, technology, engineering, and mathematics education,” Oseni said.

“Entertainment and sports have put Nigeria on the global landscape in a positive light; but they cannot help to predict technology and infrastructure deficits that will see Nigeria achieve its true potential,” Oseni said.

Olugbenga Agboola, founder and CEO, Flutterwave, in a keynote address said that events like Hackaholics 4.0 can provide valuable opportunities to founders who are leveraging technology to solve both local and global challenges.

He commended Wema Bank for creating structures to support innovation in the fintech ecosystem.

Tunde Mabawonku, ED, retail and digital business, Wema Bank, said that the digital summit transcends boundaries to unite digital innovators, visionaries, and industry leaders from across Nigeria. “It’s all about harnessing the collective potential of startup founders to redefine the boundaries of what’s possible in the digital age”.

According to him, the theme for this year’s Hackaholics encapsulates the very essence of the bank’s innovation program. “It embodies our sheer belief in a world where change is only constant. Our ability to reimagine and disrupt the status quo is what sets us apart,” Mabawonku said.

By Uzoamaka Ikezue (Staff Reporter)
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