Ecobank Nigeria has reaffirmed its commitment to youth empowerment, innovation and entrepreneurship with the successful hosting of the grand finale of the InnovateX Hackathon, its flagship innovation challenge powered by Blaze by Ecobank in partnership with Heave Ventures and Verve.
Held in Lagos on Friday, the competition brought together some of Nigeria’s brightest undergraduate innovators, culminating in the emergence of Team Vhorde as the overall winner. Other top-performing teams were E-Nation (first runner-up), Konvoy (second runner-up), Kredo (third runner-up), and Aselabs (fourth runner-up).
All 20 finalist teams received cash prizes in recognition of their innovation and outstanding performance. Team Vhorde received N5 million, while the first and second runners-up were awarded N4 million and N3.5 million respectively. Even the team placed 20th received N500,000, reflecting Ecobank’s commitment to encouraging innovation at every level. In total, the Bank distributed N22 million in prize money to the finalists.
The grand finale marked the culmination of a rigorous innovation journey that attracted 168 teams comprising 672 students from 90 universities across Nigeria. Following a highly competitive selection process, 20 finalist teams drawn from Lagos, Port Harcourt and Abuja advanced to the final stage, where they pitched innovative solutions addressing challenges across multiple sectors.
Speaking at the event, Kola Adeleke, Executive Director, Commercial and Consumer Banking, Ecobank Nigeria, said the InnovateX Hackathon was established to provide a platform for young Nigerians to transform ideas into practical solutions capable of addressing real-world challenges. “InnovateX was created to give young Nigerians a platform to transform ideas into practical solutions to real-world challenges across banking, technology, business and society. The diversity of ideas emerging in areas such as financial technology, artificial intelligence, sustainability, digital services, education and enterprise solutions demonstrates the breadth of innovation taking place among our young people.”
According to Adeleke, the initiative goes beyond identifying winners. “Our objective goes beyond identifying winners. We want to help nurture ideas, develop entrepreneurial capabilities and connect promising innovators with the resources, mentorship and networks they need to succeed.”
He further emphasized Ecobank’s commitment to developing the next generation of innovators and entrepreneurs. “At Ecobank, we recognise that young people are not merely the leaders of tomorrow; they are innovators, entrepreneurs and contributors to economic growth today. As a pan-African bank, we believe that digital transformation and innovation are essential to expanding opportunities, improving access to financial services and creating sustainable economic value.”
Also speaking, Victor Yalokwu, Head, Products and Analytics, Ecobank Nigeria, described InnovateX as an extension of Blaze by Ecobank’s commitment to empowering young Nigerians. “The InnovateX Hackathon is driven by Blaze, our dedicated youth proposition that serves as a vehicle for young people to express their talents, ideas and abilities to drive economic growth. Through Blaze, we continue to create opportunities that empower the next generation of innovators and entrepreneurs.”
Yalokwu highlighted other youth-focused initiatives under Blaze, including the Campus Ambassadors Programme, which provides students with stipends and opportunities to develop leadership and entrepreneurial skills while serving as brand ambassadors on their campuses.
He noted that all 20 finalist teams were rewarded for their creativity, resilience and innovation, with Ecobank committing N22 million in prize money to support the participants and encourage the growth of their ideas.
Speaking on behalf of the winning team, Henry Uti of Team Vhorde expressed appreciation to Ecobank and its partners for creating the opportunity.
“Winning the InnovateX Hackathon is both an honour and a huge motivation for our team. This platform has shown us that young Nigerians have the creativity and capacity to build solutions that can transform industries and improve lives. We are grateful to Ecobank, Blaze, Heave Ventures and Verve for believing in young innovators and providing an opportunity to showcase our ideas.”
The InnovateX Hackathon forms part of Ecobank’s broader strategy to support innovation, entrepreneurship and digital transformation by providing young Nigerians with access to funding, mentorship, industry exposure and growth opportunities.
