Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has announced the verticals of focus for Hackaholics 5.0, the fifth edition of its youth-focused and campus-based hackathon, Hackaholics, charging Nigerian youth and innovators to explore these verticals and participate in the revolutionary hackathon.

Hackaholics, reputed as Africa’s largest campus-based ideathon, is a youth-focused tech competition that serves as a platform for innovators and Startup founders with tech-driven or tech-enabled ideas and products to bring their game-changing ideas to life, solve real-world problems and scale their ventures.

Since its inception in 2019, Hackaholics has toured at least 37 universities across 4 African countries, amassing over 5,000 applications, disbursing at least $200,000 in grants, and positively transforming thousands of lives and business ventures across Nigeria.

The last edition, Hackaholics 4.0, saw young talented innovators win over N50,000,000 for their unique solutions across diverse verticals, including financial inclusion and health, among others.

With a whopping N90,000,000 slated for Hackaholics 5.0, the wins have significantly multiplied—with a unique twist. While prior editions of Hackaholics have required participants to innovate under 9 key verticals, Hackaholics 5.0 has pushed the boundaries, expanding the range of verticals admissible.

Themed “MetaIdea: DigiTech Solutions for Africa’s Prosperity”, Hackaholics 5.0 has adopted an infinitely multi-vertical approach, allowing participants to develop innovative solutions not only under the verticals listed on the registration portal but also across any other verticals at their disposal.

This means that in addition to Education, Climate, CivicTech, Insurance, GovTech, Health, Gender-Based Violence, Financial Inclusion, Entertainment, and FinTech, Hackaholics 5.0 participants are permitted to develop solutions across any other verticals beyond those listed, allowing for more diversity in the problem-solving approach and expanding the range of positive impact achievable through the Hackaholics platform. Young innovators with a knack for problem-solving and a drive for generating impact through tech-enabled solutions, are to simply submit their entries on the Hackaholics registration portal either choosing from the listed verticals or clicking “Others” to submit their entries under any other verticals not listed.

Expounding on the Bank’s intent for delimiting the verticals for Hackaholics 5.0, Solomon Ayodele, Wema Bank’s Head of Innovation, referenced the Bank’s commitment to constant innovation and its mission of empowering lives. “The theme for Hackaholics 5.0 is anchored on two principal factors—The Meta Idea and African Prosperity, and the general idea for this edition is to birth ideas that go above and beyond in solving prevalent problems in Africa towards the prosperity of the continent. It is only fitting that in engendering the creation of unique ideas that go beyond the regular, we also optimize the modalities to better accommodate these meta ideas and ‘beyond-regular’ solutions.

The ultimate goal is to birth solutions that address diverse aspects of real-world challenges and expanding the range of verticals will only serve to further promote the achievement of this goal”.

“As Nigeria’s most innovative bank, we are committed to not only remaining beacons of innovation and positive impact in Nigeria but also empowering other innovators and enabling innovation to thrive through every key player in this ecosystem; hence the birth of Hackaholics.

Our focus for Hackaholics 5.0 is the brilliance of your mind so we leave it to you to discover a problem area that matters to us as Africans and develop a practical innovative solution across that vertical, that will drive a positive impact for our continent. I encourage every young mind with creative ideas to leverage Hackaholics as a launchpad to the success of their innovations and Startups. All they need to do is register at hackaholics.wemabank.com and as always, we will be with them, all the way”, Ayodele concluded.

With N90,000,000 earmarked as the cash prize for Hackaholics 5.0, young innovators across the country can become Startup owners even as undergraduates and make their big break into the tech and innovation world.

To register for Hackaholics 5.0, submit your entry at hackaholics.wemabank.com