UnionX Innovation Challenge Launches to Support Nigerian Startups
As part of efforts to discover, highlight, and fund entrepreneurs with innovative, technology-focused Minimum Viable Products (MVPs), Nigeria’s Union Bank has launched the UnionX Innovation Challenge.
The challenge is to open to early-stage startups registered in Nigeria to submit groundbreaking MVPs such as in areas such as fintech, e-commerce, health, education and agriculture, that could transform society.
There’s a total of NGN4.5 million (US$12,000) in prizes for three winners and a two-month incubation programme with leading fintech venture fund, GreenHouse Capital.
Consequently, the winners will leverage the network and value chain of the Union Bank to further improve their strategies and scale for greater impact. Startups will be funded by a variety of product development, delivery and market modelling services aimed at the future integration of the bank.
“The UnionX Challenge highlights our focus on supporting innovation as a key driver of sustainable development and growth of Nigeria’s vibrant startup ecosystem, and the society at large. Union Bank has a rich heritage as a trusted partner to generations of Nigerians; providing the support they need to achieve their goals. This challenge is one of the many ways we continue to build on this heritage,” said Union Bank’s head of retail banking and digital Lola Cardoso said.
The UnionX Challenge is the newest in the Innovation Challenge series of the Union Bank, which also includes the 2017 Centenary Innovation Challenge, the 2018 Campus Innovation Challenge, and the 2019 Ed-tech Challenge.
You can apply here for the challenge.
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