Wema Bank Awards ₦300M To 11 Nigerian Startups
Wema Bank has allocated a total of ₦300 million to eleven Nigerian startups, marking the conclusion of Hackaholics 7.0 held in Lagos. The funding distribution took place during the event’s closing ceremony, titled Festival of the Future, and will finance projects spanning AI-driven medical tools, assistive devices for the visually impaired, eco-friendly construction materials from plastic waste, and digital marketplaces linking African farmers with global buyers.
The largest single award, ₦60 million, was presented to Tony Niteon Nwose, creator of Niteon, an agricultural platform that bridges farmers with processors, financial institutions, and overseas markets. Nwose’s initiative tackles a key obstacle in African farming: equipping producers with the capital, buyers, and commercial pathways necessary to maximize their involvement in agricultural value chains.
Other notable winners included Emmanuel Adeboje, whose Acceede education technology earned ₦40 million, and David Lawani, whose All-Arbitrates dispute-resolution platform received ₦20 million. The funds will enhance accessibility in both education and legal arbitration processes.
Funding Allocated Across Diverse Innovations
Kabir Olaosebikan’s Craft Planet obtained ₦40 million to transform plastic waste into durable construction materials. Meanwhile, Samuel Ayomide Shonubi’s SocialSign secured ₦30 million for sign-language technology improving digital communication for the hearing impaired, and Oluwaseyi Whyte Akinlolu’s Harthio was awarded ₦20 million for mental health support solutions.
Artificial intelligence played a central role in multiple winning proposals. Kelvin Nnadi’s Neural Forge, an AI medical diagnostics tool, received ₦30 million, while David Campbell’s Nexa AI, which analyzes customer interactions for businesses, was granted ₦20 million. Additionally, Uti Henry’s Vhorde obtained ₦10 million for IRIS—AI-powered glasses enabling visually impaired individuals to handle environments with greater independence.
Female-led ventures also secured funding for healthcare and business expansion. Zainab Boluwatife Adeagbo’s MamaAlert, a digital health platform for women, was awarded ₦20 million, and Precious Zino’s URI, an AI marketing tool, received ₦10 million to boost customer engagement for businesses.
The eleven funded teams were selected from 5,329 applicants who submitted 1,632 proposals across seven Nigerian pitch locations. After regional evaluations, 59 competitors advanced, with 21 reaching the final round in Lagos.
The breadth of solutions highlights Nigerian innovators’ focus on solving real-world challenges, with AI emerging as a dominant tool. Unlike past competitions centered on a single sector, these winners addressed needs in agriculture, healthcare, education, legal services, and social inclusion.
Wema Bank’s Expanding Support for Startups
This ₦300 million investment reflects Wema Bank’s growing commitment to innovation, first launched in 2019 through the Hackaholics initiative. Since its inception, the program has drawn over 21,000 applicants, engaged more than 50,000 participants, supported over 10,000 startups across three nations, and contributed to the development of more than 100 solutions.
