At the fourth Zenith Tech Fair, 10 finalists received N77.5m in prize money, with JumpnPass winning the grand prize of N25m for its self-checkout tech.

[dropcap]T[/dropcap]he Zenith Tech Fair, held on Thursday in Lagos, awarded N77.5 million in prize money to 10 standout contestants from its hackathon, marking a significant moment for Nigeria’s tech ecosystem.

The fourth edition of the fair, themed “Future Forward 4.0: Embedded Finance, Cybersecurity & Growth Imperatives – The Impact of AI,” saw more than 1,700 participants competing for the coveted prizes.

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The grand prize of N25 million was awarded to JumpnPass, a self-checkout technology solution designed to streamline retail operations.

The winning team also secured a six-week mentorship and incubation programme, set to run from December 2024 to February 2025, aimed at helping them scale their solution and strengthen their market presence.

The first runner-up, CreditChek, an AI-powered service that simplifies income and credit history verification, received N20 million alongside a mentorship programme.

The second runner-up, Salad Africa, which integrates credit products for digital platforms, earned N15 million and also gained access to the mentorship programme.

Other finalists, including Regxta, CashAfrica, Middleman, Messenger, Pocketfood, Famasi Africa, and Kitovu, were each awarded N2.5 million for their innovative solutions.

These startups demonstrated significant potential to contribute to the growth of Nigeria’s digital economy.

In her opening address, Adaora Umeoji, Group Managing Director/CEO of Zenith Bank, thanked the bank’s founder, Dr. Jim Ovia, for his vision in establishing the Tech Fair initiative five years ago.

She highlighted that the event was designed to nurture young minds and empower them to lead in innovation, with hopes that future hackathons will produce tech visionaries like Bill Gates, Mark Zuckerberg, Steve Jobs, and Elon Musk.

Umeoji also pointed to the growing importance of innovation in business, stressing that the future of any successful organisation depends on its ability to adapt and innovate.

“Innovation should be a top priority for us,” she remarked, referring to the importance of staying ahead in an increasingly digital world.

The Governor of Lagos State, Mr. Babajide Sanwo-Olu, also attended the fair, urging Nigerian businesses to think globally and enhance their products to compete on the international stage.

He reiterated the Lagos State Government’s commitment to providing an enabling environment for startups to thrive, ensuring that platforms like the Zenith Tech Fair continue to foster innovation and entrepreneurship.

This year’s fair also marked the launch of EazyByZenith, Zenith Bank’s new digital wallet designed to advance its retail and financial inclusion strategies.

The event featured discussions on cutting-edge technological trends such as AI, cybersecurity, and cloud computing, with a keynote on “Banking Transformation in a Digital World” delivered by renowned Strategy & Digital Implementation Specialist, Lord Robin Speculand.

In addition to the hackathon, the fair saw goodwill messages from Zenith Bank Founder Dr. Jim Ovia and Vice President Kashim Shettima, represented by Dr. Tope Fasua, Special Adviser to the Presidency on Economic Matters.

Source: Read more at iretura.com