FUTA undergraduates win 2022 Wema Bank Hackaholics competition

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3 years ago

A Team from the Federal University of Technology Akure has won the 2022 edition of a digital competition for undergraduate students, sponsored by Wema Bank.

The competition, Hackaholics, hosted by ALAT under the aegis of Wema Bank allows start-ups to pitch their unique business solutions using digital configurations developed by them for a grand cash prize of N5 million as well as other business support (including technical).

Team FUTA, made up of Ige Shalom Oluwaseun, Otobo Nemi Richard, Abisuwa Oluwadunsin Timothy, Agunbiade Temitope Comfort, and Jumbo Tamarapreye Toluwanimi –all 400 level students studying Industrial and Production Engineering and Mechanical Engineering respectively fended off challenges from teams from the University of Ilorin and the University of Lagos to emerge the overall best and winner of the grand prize.

The bank selected three institutions with a budding community of tech talents, which include Babcock University, the University of Lagos, and the FUTA for the preliminaries.

Over 770 entries were received nationwide for the competition. These were pruned and teams for the preliminaries were selected. The pitch preliminaries were held in FUTA on February 15&16, 2022, with over 200+ entries with three teams qualifying for the grand finale in Lagos from the Centre.

The three teams – Roomme, Xpress and Tradex – presented brilliant ideas and superb business models and were picked as representatives of FUTA Centre.

The grand finale was held on May 2, 2022, at the Wema Bank Training School, Ilupeju Lagos, were the best nine teams from the three locations – Babcock, University of Lagos and FUTA –pitched their business ideas.

The ideas were judged by Ibifuro Apiafi, Chuba Ezekwesili, Joel Ogunsola and Olamide Oladele, investors and the general populace who were available at the scene.

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Team Roomme from FUTA was adjudged as the team with the best idea and declared the winner of the first position with a grant of N2.5 million.

Team Roomme’s digitally-based business idea aims to solve the housing problems of society. Roomme is an online platform that matches individuals with apartments and potential roommates based on unique preferences determined via digital configurations.

The judges found the idea to be unique and targeted at solving real societal problems.

Team Kodar Tech from the University of Ilorin won the second position with the sum of N1.5 million, and team Ajovest from the University of Lagos came third winning the sum of N1 million.

The 2022 edition, the third in the series, was dedicated to start-ups that are being run by students.

The Vice-Chancellor, Professor Joseph Fuwape, has congratulated members of the team describing them as worthy ambassadors of FUTA.

“I am elated that students of FUTA have continued on the path of excellence and contributed to proffering solutions to real societal problems. Members of Team Roomme have done our university proud and their names will be recorded in our Hall of Fame,” Fuwape said.

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FUTA undergraduates win 2022 Wema Bank Hackaholics competition