Ecobank has significantly raised the bar in youth empowerment by awarding a cash prize of N20 million to 18 participants of its highly competitive InnovateX programme.

The move underscores its dedication to fostering innovation, entrepreneurship, and sustainable economic growth among Africa’s young population.

The InnovateX initiative, in partnership with Heave Ventures, is conceived as part of the bank’s broader vision to create an enabling environment for young innovators. It is a platform designed to identify, nurture, and support exceptional talents with groundbreaking business ideas.

The programme not only challenges participants to think creatively and solve real-life problems, but also provides them with the tools, mentorship, and financial backing needed to turn those ideas into scalable enterprises.

A breakdown of the cash prizes revealed that winners in the creative category shared a total of N8 million among three recipients, while five winners in the STEM category collectively received N9 million. The remaining 10 contestants were awarded a combined sum of N3 million.

Executive Director, Commercial and Consumer Banking, Ecobank Nigeria, Kola Adeleke, said beyond the financial reward, InnovateX winners would also gain access to Ecobank’s vast network of business partners, technical advisors, and industry experts.

He reaffirmed that InnovateX is not a one-off intervention but part of an ongoing commitment to inspire a new generation of African entrepreneurs who can harness innovation to address societal challenges.