Akwa Ibom’s technology community said it is targeting the emergence of a billion-dollar startup headquartered in the state, as organisers of the fifth Akwa Ibom Tech Week raise the top prize for promising innovators to N5 million and commit N10 million to the competition.

The initiative is designed to move local technology entrepreneurs beyond showcasing their ideas to attracting investors, accessing international markets and building companies capable of generating jobs and economic opportunities, President of Ibom Innovation Network, Hanson Johnson, has said.

Johnson disclosed this during a media briefing ahead of the 2026 edition of Akwa Ibom Tech Week, scheduled for November 2 to 7, with activities planned across Uyo and Ikot Ekpene.

He said the competition would award N5 million to the first-place winner, N3 million to the second-place winner and N2 million to the third-place winner, marking an increase from the N1 million top prize offered in the previous edition.

“Our goal is that in five years from now, one of these companies should be able to be valued at $1 billion, with the headquarters here, to create opportunities and bring opportunities to us as well,” Johnson said.

He explained that the financial prizes were only one aspect of the initiative, as participation could expose entrepreneurs to investors, recruiters and accelerator programmes that could provide funding and business support beyond the competition.

He cited the experience of Rapid River Software, a United States-based company that participated in the 2023 edition, recruited local technology talent and returned in 2024 to establish an office in Uyo following its initial experience.

According to him, some previous participants have also secured places in accelerator programmes that positioned them to pursue funding of up to $100,000.

Chairman of the planning committee, Enoabasi Emah, said this year’s edition would shift attention from discussions of Akwa Ibom’s growing technology ecosystem to practical measures to improve the productivity, investment prospects, and global competitiveness of homegrown innovators.

With the theme: “Scaling the Frontiers: From Homegrown Innovations to Global Markets,” Emah said the event would explore how local talent could develop solutions with wider commercial applications.

“We’ve dealt with talent and the ecosystem. Akwa Ibom has been booming, and we have these talents. Now, we’re taking it deeper beyond conversations. What can we do with these talents, position them for better investments, for better productivity, and put them on the global market?” she said.

Emah identified stronger collaboration among government, academia and industry as a major requirement for the state’s technology ecosystem to achieve its ambitions.

She also called for wider public awareness of the relevance of technology beyond conventional technology businesses, noting that sectors such as agriculture, education and renewable energy could benefit from innovation.

Programme Director of Akwa Ibom Tech Week, Odiong Akpan, said the event was designed to connect entrepreneurs with opportunities while positioning the state as a destination for technology, investment, tourism and cultural exchange.

“The dream we are having for Akwa Ibom is for it to be Africa’s new tech destination,” Akpan said, adding that the ambition would require the state to establish itself as a commercially attractive market.

He stressed that government policies and the political will to implement them would be crucial to achieving the goal, arguing that private initiatives alone could not take the ecosystem beyond a certain level.

The programme includes a startup pitch competition, a career fair connecting technology professionals with employers, and workshops intended to familiarise public-sector workers with emerging technologies and global standards.