Union Bank to support start-ups through UnionX Innovation Challenge

February 22, 2021
22 Views

UNION Bank has unveiled the 2021 UnionX Innovation Challenge, as part of efforts to support young start-ups and boost innovation in the start-up ecosystem.

Tagged ‘A New Discovery’, the Challenge will discover, showcase, and support eligible entrepreneurs across Nigeria with innovative, technology-focused Minimum Viable Products (MVPs).

Speaking on the UnionX Challenge and Union Bank’s focus on innovation, the bank’s Head, Retail Banking and Digital, Lola Cardoso said, “the UnionX Challenge highlights our focus on supporting innovation as a key driver of sustainable development and growth of Nigeria’s vibrant start-up ecosystem, and the society at large. Union Bank has a rich heritage as a trusted partner to generations of Nigerians; providing the support they need to achieve their goals. This Challenge is one of the many ways we continue to build on this heritage.”

During the entry period which ends on March 14, 2021, early-stage start-ups registered in Nigeria are invited to submit innovative MVPs with the potential to transform society. These innovative MVPs should focus on sectors including, but not limited to Financial Technology, E-Commerce, Health, Education and Agriculture. The bank says entries will be submitted on the Union Bank website

A statement from the lender says the top three MVPs will attract cash prizes totalling N4.5 million from Union Bank in addition to a two-month incubation programme with GreenHouse Capital, a leading fintech venture capital fund collaborating with Union Bank on the initiative.

In addition, the winners will leverage Union Bank’s network and value chain to further develop their solutions and scale for greater impact.  Start-ups will be supported with a range of services focused on product development, distribution and business modelling geared towards potential integration to the bank.

The UnionX Challenge is the most recent in Union Bank’s Innovation Challenge series. Through the Centenary Innovation Challenge in 2017, the Campus Innovation Challenge in 2018, and the 2019 Edtech Challenge, Union Bank has discovered and supported innovative start-ups and solutions with the potential to drive sustainable impact and development in Nigeria.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Cryptocurrency: Understanding The Craze, Threat

ON Friday, February 6, the Central Bank of Nigeria (CBN) rocked the boat with a circular that inadvertently highlighted how popular cryptocurrency transactions have become among Nigerians in recent years, judging by… 

ICYMI: Yoruba, Hausa Teachers Needed In US

The US Embassy and Consulate in Nigeria has announced that the services of Yoruba and Hausa teachers are needed in the United States. According to the Public Affairs Section of the US Mission Nigeria…

After Two Years, Daddy Freeze Apologises To Bishop Oyedepo
Daddy Freeze whose real name is Ifedayo Olarinde has apologised to Bishop Oyedepo who is the presiding bishop and founder of Living Faith Church aka Winners Chapel…

You may be interested

Buhari congratulates re-appointed UN Secretary-General, deputy
Entertainment
Entertainment

Buhari congratulates re-appointed UN Secretary-General, deputy

admin - June 19, 2021

President Muhammadu Buhari has felicitated with Secretary-General of the United Nations, António Guterres on his re-appointment for a second term…

External forces behind secessionist agitators in Nigeria — Fayemi
Entertainment
Entertainment

External forces behind secessionist agitators in Nigeria — Fayemi

admin - June 19, 2021

Ekiti State Governor, Dr Kayode Fayemi has made a shocking revelation that some external forces are behind those agitating for…

Entertainment

Put pressure on Mali to return to civil rule, Buhari tells ECOWAS leaders

admin - June 19, 2021

President Muhammadu Buhari has admonished West African leaders to exert pressure on the military leadership in Mali to ensure that…

Leave a Comment