Zenith Bank has announced the launch of Zecathon 3.0 with a price pool of N59 million.
Zecathon is a pitch competition for Startups in Nigeria.
It is set up by Zenith bank in collaboration with Seedstars, an international investment and education company headquartered in Geneva, Switzerland.
The bank made the announcement today Nov. 10th,2023, via a press release. ;
“Following the success of last year’s pitch competition, Zenith Bank, in partnership with Seedstars, proudly announces the launch of Zenith Bank Zecathon 3.0”
The Executive Director of Zenith Bank,
Temitope Fasoranti made reference to the success of the previous edition while excitedly announcing the event.
“After witnessing the unparalleled impact and success of our previous collaboration with Seedstars, we’re thrilled to introduce Zecathon 3.0.” He said.
According to the release, Zecathon reaffirms the Bank’s commitment to identifying, supporting, and mentoring Nigerian MVP stage startups.
Mr. Fasoranti also establishing this in his speech, said;
“Our goal is to spotlight and uplift innovative startups that use technology to address modern-day challenges, steering us towards a brighter tomorrow.”
Aside from the total money prize of N59 million , winning participants also get business support through training, mentorship, and investor networking opportunities. This is to further enable the startups to achieve their growth plans.
“Winning participants will not only receive the cash prizes but will also gain invaluable pitch training, be part of a follow-on program, and access to Seedstars’ global network. ”
The prizes are as follows;
- 1st Prize: N20m (Twenty million Naira) – plus an opportunity to pitch investors and access the Seedstars Mentorship Hub.
- 2nd Prize: N15m (Fifteen million Naira) – inclusive of a scholarship into the Seedstars mentorship hub.
- 3rd Prize: N10m (Ten million Naira) – complemented by a scholarship into the Seedstars mentorship hub.
- The subsequent 10 startups (4th – 10th) will each be granted a participatory prize of N2m (Two million Naira).
Highlighting the criteria for participation, the release said “Startups looking to participate in the program should be at the MVP stage with a full team, and have raised no more than $75,000 in funding”.
The startups must also operate within the following domains:
- Future of Retail
- Future of eCommerce
- Future of Payments
- Future of Lending
- Future of Wellness
- Future of Cybersecurity
- Future of EdTech
- Future of Energy
- Future of AgriTech
- Future of Entertainment
- Future of Transport and Logistics
- Future of SMEs
Startups interested in participating should send their applications by November 14th here: https://seedsta.rs/40zbMoM.