Wema Bank has awarded N120 million in cash prizes to young talents at the Hackaholics 6.0 grand finale, where 35 teams emerged from regional pitch sessions that recorded 1,460 participants across the country.

The Ideathon prizes include N25 million for first place, N20 million for the first runner-up and N15 million for the second runner-up. In the Hackathon category, the first to fourth-place teams received N20 million, N15 million, N10 million and N5 million, respectively.

Chao, an engine designed to help food vendors work smarter and grow effortlessly, emerged as the first-place winner in the Ideathon category, securing a cash prize of N25,000,000.

VOC AI, a voice of customer software development kit that turns everyday notifications into real-time feedback touchpoints, clinched first place in the Hackathon category.

Other winners in the Ideathon category included VARSITY SCAPE, which came second and won N20,000,000; FARMSLATE, which finished third with a N15,000,000 prize and SANE AI, which placed fourth and received N5,000,000. FERTITUDE secured the Women-Led category prize, taking home N5,000,000.

Congratulating the winners, the Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, urged Nigerian youths to explore innovation and channel their creativity in positive and productive ways. Reaffirming the bank’s long-standing commitment to empowering lives through innovation, Oseni highlighted Wema Bank’s history and strategic focus on youth development.

“For eight decades, we have stood as Nigeria’s longest surviving indigenous bank, waded market storms, adapted to countless disruptions, transformed alongside our nation over the decades, and spearheaded innovation in banking,” Oseni said. He added: “With Hackaholics, we decided to go beyond being innovators to becoming the Bank that empowers innovators even from as early as their undergraduate years.”

He stressed that Wema Bank recognised the central role of science, technology, engineering and mathematics (STEM) in shaping Africa’s future.

“We recognise that the future of this continent will be built on the bedrock of STEM, which is why our dedication to youth and STEM education is more than just CSR, it is a strategic imperative that we do not compromise on,” Oseni stated.

“We are not just providing platforms, we are investing in the youth, financially, intellectually, and in every other way that matters.” The 35 finalist teams emerged from a regional a pitch cycle that received over a thousand applications across eight pitch centres: Ahmadu Bello University (ABU Zaria), Federal University of Technology Akure (FUTA), Lagos State University (LASU), University of Uyo (UniUyo), Babcock University, University of Ibadan (UI), Veritas University Abuja and Purple Academy Lagos.

Each centre provided students with access to industry-led masterclasses, hands-on mentorship and structured pitch development sessions, culminating in highly competitive presentations before expert judges.