Nigerian financial institution, Zenith Bank PLC has announced the launch of a startup pitch competition called the “Zenith Bank Zecathon 3.0”, in partnership with Seedstars Global Network.
The Zecathon 3.0, according to Temitope Fasoranti, an Executive Director with the bank, reaffirms Zenith’s “commitment to identifying, supporting, and mentoring Nigerian MVP stage startups, aimed at shaping the future of business in Africa.”
Fasoranti, in a statement while launching the competition in Lagos, said winners will take home prize money from pool of N59 million aside other mouthwatering incentives in business support, training, mentorship, and investor networking opportunities that would enable the startups to achieve their growth trajectories.
“After witnessing the unparalleled impact and success of our previous collaboration with Seedstars, we’re thrilled to introduce Zecathon 3.0,” Fasoranti said.
“Zenith Bank remains steadfast in its commitment to fostering technological advancements in Nigeria.
‘’Our goal is to spotlight and uplift innovative startups that use technology to address modern-day challenges, steering us towards a brighter tomorrow,” he added.
He advised that startups looking to participate in the programme should be at the MVP stage with a full team, and must have raised no more than $75,000 in funding.
“Additionally, intending startups must operate within the following domains:
“Future of Retail, Future of eCommerce, Future of Payments, Future of Lending, Future of Wellness, Future of Cybersecurity, Future of EdTech, Future of Energy, Future of AgriTech, Future of Entertainment, Future of Transport and Logistics and Future of SMEs.
“Winning participants will not only receive the cash prizes but will also gain invaluable pitch training, be part of a follow-on program, and access to Seedstars’ global network.
“The first prize is N20m plus an opportunity to pitch investors and access the Seedstars Mentorship Hub; Second Prize: N15m, inclusive of a scholarship into the Seedstars mentorship hub while the third prize is N10m complemented by a scholarship into the Seedstars mentorship hub. The subsequent 10 startups (4th – 10th) will each be granted a participatory prize of N2m,” Fasoranti said.