Zenith Bank plans to allocate N59 million to Nigerian startups through its Zechathon 3.0 pitch competition, a hackathon organized in collaboration with accelerator firm Seedstars.
The initiative aims to provide business support, including training, mentorship, and networking opportunities for participating startups, contributing to their growth. Startups eligible for the program should be at the MVP stage, possess a full team, and have received no more than $75,000 in funding.
They must operate within sectors such as retail, eCommerce, payments, lending, wellness, cybersecurity, EdTech, energy, AgriTech, entertainment, transport and logistics, and SMEs. The Executive Director of Zenith Bank, Temitope Fasoranti, expressed the bank’s commitment to advancing technological development in Nigeria.
Winning participants will receive cash prizes, pitch training, participation in a follow-on program, and access to Seedstars’ global network. The competition offers the following prizes: N20 million for the 1st prize, N15 million for the 2nd prize, N10 million for the 3rd prize, and participatory prizes of N2 million each for the subsequent 10 startups. The deadline for startup applications is November 14, 2023.
