Sylvia Duruson
Zenith Bank has unveiled the fourth edition of Zecathon, its flagship startup competition and incubation program. The initiative targets early-stage Nigerian startups developing solutions across multiple sectors, including embedded finance, cybersecurity, fintech, healthtech, agritech, and e-commerce.
Group Managing Director Dame Adaora Umeoji, OON, emphasizes Zenith Bank’s commitment to fostering Nigeria’s startup ecosystem. The program combines a pitch competition with a six-week incubation period designed to provide mentorship, exposure, and strategic partnerships.
Prize money totaling ₦77.5 million awaits successful participants. The top three winners will receive ₦25 million, ₦20 million, and ₦15 million respectively. Seven additional finalists will each secure ₦2.5 million. Beyond financial rewards, winners gain access to a comprehensive incubation program running from December 2024 to February 2025.
Applications remain open until November 15, 2024. Finalist announcements follow on November 18, with physical pitch competitions scheduled for November 21. Eligible startups must be registered Nigerian businesses operating in specified sectors with viable products or MVPs showing market traction.
Last year’s competition highlighted emerging talent in Nigeria’s tech sector. Sync claimed first place with ₦20 million, followed by Skil Up With Kahdsole securing ₦15 million, and Tribapay earning ₦10 million. Seven additional finalists received ₦2 million each while participating in the incubation program.
The implementation partner, Beyond Limits, brings expertise in entrepreneurship development, tech ecosystem growth, and digital transformation. Their involvement strengthens the program’s ability to nurture emerging businesses effectively.
Zenith Bank’s position as Nigeria’s largest bank by tier-1 capital adds significant weight to the initiative. Established in 1990, the bank maintains a shareholder base exceeding half a million. Their 2013 listing on the London Stock Exchange, valued at $850 million, demonstrates their international reach.
The competition focuses on sectors crucial to Nigeria’s digital economy. Selected participants receive mentorship opportunities and access to strategic partnerships essential for scaling their operations. This support structure helps startups navigate challenges in the evolving tech landscape.
Interested startups can submit applications through the official website. The program requires participants to demonstrate scalable business models and clear growth potential. This requirement ensures selected startups can maximize the benefits of both financial support and incubation resources.
The initiative reflects broader efforts to strengthen Nigeria’s technology sector through private sector involvement. By combining competition with intensive support, Zecathon 4.0 creates opportunities for innovative startups to secure funding while developing sustainable business practices.
