Zenith Bank Commence Pitch Competition for Tech Startups
TECH DGEST- The Zenith Bank Pitching Competition formally announces the opening of applications from Nigerian business owners with tech-enabled, scalable solutions intended to disrupt various industries.
On November 22 and 23, the top ten startups will be invited to compete in a pitch competition at Zenith Tech Fair, where the winners might take home up to N15 million in cash awards.
A partnership between Zenith Bank and Seedstars called the Zenith Bank Pitching Competition aims to assist Nigerian minimum viable product (MVP) stage startups in moving on to the next development level.
The goal of the competition is to find potential companies and provide support for the top startups who are employing technology and original concepts to help solve today’s problems in the following areas:
- Future of Wholesale and Retail
- Future of eCommerce
- Future of Payments
- Future of Lending
- Future of Wellness
- Future of Cybersecurity
- Future of EdTech
- Future of Electricity (power vending)
- Future of Agri-tech
Future of EntertainmentBy offering the resources and knowledge required to promote business growth and development, the Zenith Bank Pitching Competition aims to aid participating startups. The cohort will also learn about lean methodologies and best startup practises from internal experts at Seedstars and carefully chosen outside mentors.
Criteria for startups looking to join the competition are as follows:
- Existing startups/young tech companies (<3 years) in the Nigerian ecosystem;
- The startup must have a demonstrable product or service (MVP) or must demonstrate viability of business model;
- The startup needs to be scalable or have the potential to reach scalability;
- Startup must have a complete team;
- Startup must not have raised more than $75K; and;
- Startup must be operating in one of the sectors listed above.
The pitch competition taking place at the Zenith Tech Fair on November 22 and 23 will give the ten startups the opportunity to pitch their solutions for a chance to win the following cash prizes:
- 1st Prize: N15 million
- 2nd Prize: N10 million
- 3rd Prize: N5 million
The rest of the startups will be awarded a participatory prize of N1 million each, and the top 5 startups will receive follow-on mentorship through Seedstars’ Mentorship Hub that will enable them to continue scaling their businesses and receive additional support from a global network of experts and investors.
Startups interested in joining the Zenith Bank Pitching Competition can send in applications before the 14th of November.