Union bank is currently receiving applications for the third edition of its Edtech challenge. Applications to participate in the challenge will be received until the 23rd of August.
From the start of the Union Bank Innovation Challenge series, the focus has been to identify, showcase and support innovative solutions and cutting-edge technologies that solve pressing problems. This edition focuses on solutions that solve problems in the educational sector of the country.
Who can apply?
Union Bank would love to review your application if you fall into any of the following categories: student, teacher, developer or designer. You can also apply as a fintech company or as any other kind of tech company. In case you do not belong to any of the categories listed above, you can still apply as long as your application meets the criteria.
What are the application criteria?
First thing to note is that the challenge does not welcome ideas as prospective solutions. Union bank is emphatic about what kind of entries applicants send in as solutions. Your solution must be a tested prototype, a Minimum Viable Product (MVP). Your solution must demonstrate a strong potential to transform the education system in Nigeria.
You can begin your application here. After the application and review process, the top 10 entries will be called up and on-boarded to an acceleration program that will hold from September to October. A Demo day will take place in October during which the top three applicants will be selected as winner and runner-ups of the challenge.
The winner of the challenge will receive the prize of NGN2.5 Million, while the first and second runner-ups will receive NGN1.5 million and NGN1 million respectively. Alongside the cash prizes, the winners will also receive venture support which will help them scale their solutions and link them to relevant stakeholders in the system.
The edTech challenge links two areas that Union Bank is passionate about – Education and Innovation, and our focus on these two areas stems from the realisation that they are crucial to driving development and sustainable impact in Nigeria. We are focused on collaborations and partnerships that will boost the development of education and shape a better, more sustainable future.Lola Cardoso, Chief Digital and Innovation Officer
According to Union Bank, the challenge which is being put together in partnership with VHA Services, is its way of helping to setup sustainable solutions as well innovations in the education sector of the country.