Zenith bank offers N59m to Nigerian startups

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Zenith Bank, a leading Nigerian tier-1 bank, has unveiled Zecathon 3.0, a pitch competition offering a total of N59 million to innovative startups in Nigeria. In collaboration with Seedstarts, the initiative not only provides financial support but also offers training, mentorship, and networking opportunities to foster business growth.

To be eligible, startups must be at the Minimum Viable Product (MVP) stage, possess a full team, and have secured at least 75% of their funding. The program targets startups in various sectors, including retail, e-commerce, payments, lending, wellness, cybersecurity, EdTech, energy, AgricTech, entertainment, transport and logistics, and SMEs.

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Temitope Fasoranti, the bank’s Executive Director, emphasized the program’s commitment to leveraging technology to address contemporary challenges. Winners not only receive cash rewards but also benefit from pitch training, participation in a follow-up program, and access to Seedstars’ global network.

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The prizes for the top startups are as follows:

  1. 1st Prize: N20 million, along with the opportunity to pitch to investors and access the Seedstars Mentorship Hub.
  2. 2nd Prize: N15 million, including a scholarship into the Seedstars mentorship hub.
  3. 3rd Prize: N10 million, complemented by a scholarship into the Seedstars mentorship hub.
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Additionally, the next 10 startups will each receive a participatory prize of N2 million. This initiative underscores Zenith Bank’s dedication to fostering innovation and supporting startups that use technology to tackle current challenges.

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