“Apply Now”: Zenith Bank Opens Applications to Award N59m to Startups in Nigeria, Releases Link
- Zenith Bank has announced that it would award N59 million to startups in Nigeria
- The bank said the programme tagged Zecathon 3.0 will see young Nigerian innovators present their ideas
- It said that interested participants will also participate in future training by Seedstars
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Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.
One of Nigeria’s tier-1 banks, Zenith Bank, announced that it will award N59 million to Nigerian startups through its pitch competition tagged Zecathon 3.0, where young Nigerian innovators will present their ideas and be rewarded for their inventions.
The initiative, organized in partnership with the accelerator company Seedstarts, would also give business support to its participants via training, mentorship, and investor networking opportunities, enabling startups to achieve growth.
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Eligibility for startups
The bank stated that the programme would shape the future of business in Africa.
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According to the statement by the bank, the startups looking to participate should be at the MVP stage with a whole team and have raised about %75,000 in funding. Also, the startups must operate within retail, e-commerce, payments, lending, wellness, cybersecurity, EdTech, energy, AgricTech, entertainment, transport and logistics, and SMEs.
The bank’s Executive Director, Temitope Fasoranti, said that the programme follows the success of previous programmes, stating that it aims to lift startups using technology to address present-day challenges.
Fasoranti added that winners would not only get cash rewards but gain pitch training, be part of a follow-up programme, and access Seedstars’ global network.
Top prizes for startups
- 1st Prize: N20m– plus an opportunity to pitch investors and access the Seedstars Mentorship Hub.
- 2nd Prize: N15m – including a scholarship into the Seedstars mentorship hub.
- 3rd Prize: N10m – complemented by a scholarship into the Seedstars mentorship hub.
- The subsequent 10 startups will each be granted a participatory prize of N2m.
The bank said interested startups should apply using the link.
Access Bank announces N30bn initiative for 4 million women, youth-owned businesses in Nigeria
Legit.ng reported that Access Bank has announced that it will partner with the Office of the Vice President to provide N30 billion for four million Micro, Small, and Medium Enterprises (MSMEs), women, and youth businesses in Nigeria.
The bank's Group Managing Director, Roosevelt Ogbonna, revealed this while fielding questions from journalists after a meeting with Vice President Kashim Shetimma in Abuja.
Reports say Ogbonna disclosed that the bank would provide the N30 billion to MSMEs at a discounted rate of between 15 and 17%.
Source: Legit.ng
