As
part of its efforts to support Nigeria’s aspiration and roadmap to
become a leading Information Communication Technology (ICT) Hub in
Africa, Heritage Bank Plc, Nigeria’s most innovative
banking service provider has doled out $40, 000 grants to winners of
the maiden edition of HB Innovative Lab.
The
maiden edition of Heritage Bank Innovation Lab Accelerator programme
(HB-LAB) tagged, ‘Demo Day,’ is a 12-week programme, expected to provide
technology start-ups seeking additional investments
to progress and accelerate market introduction/adoption of their
solutions with co-working and internet resources, guidance and
mentorship with finch start-ups founder and seed funding. However, the
bank’s commitment is to create enabling environment, resources
and support required to innovate and accelerate impactful solutions
with the potential to radically improve financial
Inclusion/Intermediation, health, automobile, agriculture, and other
related problems affecting critical sectors of the economy.
At
the grand finale of the programme, of the seven groups, Trep Labs-Real
Drip emerged the winner with the most compelling solution won the
N10million, whilst Ladipomarket.com.ng won the N5million
prize, as the 1st runner-up, which is equivalent of $40, 000.
Speaking
at the event, the MD/CEO of the bank, Ifie Sekibo, said the bank knew
it was in the best interest of the country to pay attention to the
development to the technology and industrial
sector. According to him, “the future of the country lies in the hands
of its youth. Our youths are talented, and Heritage Bank is committed to
harnessing this talent to grow the economy.”
He
noted that although in Nigeria, technology startups still account for a
relatively small share of all businesses, but they have an outsized
impact on economic growth, because they provide
better-paying, longer-lasting jobs than other start-ups, and they
contribute more to innovation, productivity, and competitiveness.
Sekibo
explained further, “Newly starting up a business is part of the most
difficult stage of the business, you would need to source for capital
and manpower. Considering the fact that you
are a new business those items are not so easy and cheap for you to
acquire.
“However,
the presentations we have seen today shows how gifted Nigeria is with
human resources, our youths have demonstrated that the country still has
a beautiful future.
“I
am impressed with the start-ups, after six weeks of drilling and
grooming they have been able to develop up to this point; everyone is a
winner tonight as far as I am concerned.
“Based
on the success of this maiden edition we are going to continue this
initiative, we would go back to our laboratory and create something
bigger for the upcoming editions.”
When
asked what he felt about Artificial Intelligence being used in banks,
he explained: “Technology has been playing a key role towards enhancing
the banking sector. Thus, we saw the need
to create an Artificial Intelligence product called Octopus, which has
been piloted and its second edition is almost ready for launching.
On
his part, the Co-founder TREP Labs, Alayande Abiola, said, “Emerging as
first place and winning the ten million naira is going to help the
growth
of our clinical solutions.
“Now
we would be able to complete our clinical trials, optimise our products
development and also provide enough healthcare solutions that are
battling
with the country.”
Earlier,
the bank’s Divisional Head Innovation and Partnership, Ikenna Imo,
explained: “Twelve weeks ago we welcomed seven talented and diverse
start-ups,
at that time our intentions were clear that we were ready to create
distinctive propositions that solves issues facing the country
currently.
“Today,
I have no doubts that the start-ups we have assembled after a selective
and competitive process have what it takes to accomplish that.
Over
the last 12 weeks, the HB Lab has hosted a number of business leaders
and founders within in the tech ecosystem who shared the experiences and
evolutions of their respective businesses
with the aim to inspire and impart business knowledge in the young
minds looking to start out their own tech-enabled businesses.
Some
of the mentors at the program include; Gbenga Awe (Heritage Bank Plc),
Tosin Eniolorunda (TeamApt), Abolore Salami (Riby), Deji Oduntan
(Gokada), Muyiwa Faulkner (Mines.io), Shile Owoka
(Smile Identity), Moses Sule (Oradian) to mention a few.
Heritage
Bank Plc remains committed to championing sustainable value creation,
leveraging technology to ensure a culture of innovation and mutually
beneficial partnerships.
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