Zenith Bank Opens Applications for N77m Cash Prize Competition for Startups, Deadline To Apply Nears
- Zenith Bank is set to award over N77 million cash prize to startups in Nigeria during its Zecathon 4.0 competition
- The bank said the competition will see young Nigerian innovators present their ideas during the Zenith Bank Tech Fair
- There is also a six-week incubation program designed to equip participants with the mentorship and exposure to thrive in the fast-evolving tech landscape
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Zenith Bank has announced that it will award N77.5 million to Nigerian startups through its pitch competition tagged Zecathon 4.0.
This is an increase from the N59 million awarded in the Zecathon 3.0 held in 2023.
Source: Getty Images
How Zecathon 4.0 works
According to information on the Zenith Bank website, the Zecathon 4.0 will include a startup pitch competition and a six-week incubation program designed to equip participants with mentorship, exposure, and strategic partnerships.
The competition will seek to identify and fast-track the growth of high-potential Nigerian startups innovating in key sectors, including Embedded Finance, Cybersecurity, Fintech, HealthTech, Agritech, E-commerce, and more, Techcabal reports.
Requirements to be eligible
- Be early-stage Nigerian startups with a registered business entity
- Operate in one or more of the listed focus sectors
- Demonstrate a viable product or Minimum Viable Product (MVP) with initial market traction
- Present a scalable business model with clear growth potential
Top prizes for startups
- 1st Place 25 million
- 2nd Place 20 million
- 3rd Place 15 million
- 4th - 10th Place (7 startups) 2.5 million each
For more information and steps to apply, click here. Applications close on Friday, 15 November, 2024.
Google opens application for innovative black startups
Legit.ng earlier reported that Google had launched the third cohort of its Black Founders Fund for Startups in Africa and Europe, committing $4 million to support eligible black-founded startups.
The fund aims to promote digital transformation and support black-owned startups across the continent.
Upon selection, the startups will receive up to $150,000 equity-free cash awards and up to $200,000 per startup in Google Cloud credits.
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Source: Legit.ng
