the Heritage Place, Ikoyi hosted Union Bank‘s Centenary Innovation Challenge – an initiative set up in partnership with Co-Creation Hub aimed at discovering and promoting innovative ideas that address the Sustainable Development Goals (SDGs). “Biodegradable Starch Bags” by Ized Uanikheli emerged as the winner.
Nine ideas were pitched at the event to a panel of judges made up of Union Bank’s Senior Executives and Executives from Fate Foundation and Co-Creation Hub.
The Centenary Innovation Challenge provided a platform for entrepreneurs and tech innovators to pitch their ideas and attract financial and mentorship support from Union Bank and Co-Creation Hub.
Speaking at the event, Union Bank CEO, Emeka Emuwa said, “Earlier in the year, as part of our Centenary Anniversary celebrations, we launched the Innovation Challenge; placing a call for young Nigerians with innovative ideas which address the Sustainable Development Goals to send in their entries.
Today, we have delivered on the promise we made to support these innovators as they seek to address the goals through entrepreneurial ideas. As a bank, we remain committed to contributing our quota towards the achievement of these ambitious Sustainable Development Goals.”
The winner of the Challenge, Ized Uanikheli of Locitrax Group which produces Biodegradable Plastic Bags, won 2 million naira. Upon receiving her prize, Uanikheli said, “I am glad that my dreams are coming to reality and I wish to express my sincere gratitude to Union Bank for giving us this platform to showcase our innovative idea.
The first runner-up was Agartech, a device for the preservation of fruits and leafy vegetables using solar empowered dryer, built by Abuyaziz Musaddiq and Mohammed Mustapha Ilyas; the pair received 1.5 million naira. “Mbele” a learning gamification product by Peter Ayeni was the second runner-up; his innovation got him 1 million naira.
Lola Cardoso, Head Group Corporate Strategy Union Bank presents the cheque to the first runners-up, Abuyaziz Musaddiq and Mohammed Mustapha IlyasSource VentureAfrica
