In celebration of its 100 years in existence, the Union Bank is running a Centenary Innovation Challenge to find and support great ideas that address the Sustainable Development Goals (SDGs) in entrepreneurial ways.
The bank, in partnership with Co-Creation Hub, is looking for innovative ideas to address the biggest problems affecting how people live, work, socialise and do business in Nigeria.
“In particular, we are looking for great ideas that improve financial inclusion, agriculture and education of Nigerians,” the bank said in a statement.
According to the bank, the innovation challenge will engage eligible young and talented people across Nigeria to submit novel ideas that address some of the Sustainable Development Goals (SDGs) that are of immediate interest to Union Bank.
“We will encourage applicants to propose innovative ideas that solve fundamental social and commercial challenges faced by Nigerians in a range of sectors starting in one community but potentially scalable across the nation,” the bank added.
University students, software developers, academics and entrepreneurs from across the six geopolitical zones, are called to apply for this opportunity.
Top three ideas will receive immediate cash prizes of N2 million, N1.5 million and N1 million respectively towards the execution of the idea, while further incubation support will be provided via the Co-Creation Hub (CcHUB) incubation services with full engagement with the bank.
According to the bank, over the subsequent six months, the top three ideas will be supported with a range of services focused on product development, distribution and business modelling to turn their ideas into fully working products to launch in late 2017.
“We invite university students, software developers, academics and entrepreneurs across Nigeria to submit novel ideas that address challenges related to the Sustainable Development Goals (SDGs) including financial inclusion, agriculture and education starting in one community but potentially scalable across the nation.
“The top three selected ideas will attract immediate cash prizes and further incubation support via the Co-Creation Hub (CcHUB) incubation services with full engagement with Union Bank.
“Through the challenge, we hope to find hidden social innovators across the length and breadth of Nigeria, supporting them to develop their ideas and to scale leveraging digital technology and Union Bank’s reach and networks,” the bank added.
Deadline is May 17, 2017.
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