As part of efforts to promote innovation in the education sector, Union Bank has announced the launch of the 2019 EdTech Challenge.
The edTech Challenge is the third edition of the annual Innovation Challenge series and aims to discover, showcase and support innovative, cutting-edge technologies with the potential to transform Nigeria’s education system. The Challenge reinforces the Bank’s commitment to innovation and education, underpinning its dedication to enabling success in Nigeria.
During the entry period from July 30 to August 28, 2019, entries will be received on the Union Bank website, from anyone with innovative technological solutions that demonstrate a strong potential to transform the education system. Entries are expected from students, teachers, developers, designers, fintechs and tech companies.
The competition is being put together in partnership with VHA Services, a Lagos-based professional services and coaching organisation that supports individuals and companies to set up, build and grow sustainable ventures.
Speaking on the launch of the competition and Union Bank’s support for education, the Chief Digital and Innovation Officer, Lola Cardoso said,
“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.”
Following the entry period, up to 10 shortlisted entries will be unveiled and the successful applicants invited to participate in an accelerator programme providing them with access to coach-mentors, and a community of education stakeholders and strategic partnerships.
In the final stage of the competition, the top three entries will be announced during edu360, Union Bank’s annual flagship education event scheduled to hold in October this year.
These top three winning entries will receive total funding support of 5 Million Naira towards scaling their solutions, and venture support including specialised support based on their specific project needs. They will also receive advisory regarding the deployment and management of funding received.
The competition is the third edition of the annual Innovation Challenge series. Through the Centenary Innovation Challenge in 2017, and the Campus Innovation Challenge in 2018, Union Bank discovered and supported innovative ideas and solutions that solve various social and business challenges.
The Bank also recently partnered with The Education Partnership (TEP) Centre to host the Education Innovation Summit (NEDIS), an event that convened stakeholders from government, research and academia, innovators and educators for two days of rich discourse, knowledge sharing, learning, capacity development and networking.