Union Bank of Nigeria Plc, established in 1917, is a full-service commercial bank that caters to the retail and commercial needs of individuals, small and medium sized companies, and major corporations.
Applications are invited for 2019 edTech Challenge Details
The 2019 Union Bank 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 our commitment to innovation and education, underpinning our dedication to enabling success in Nigeria.
Top 10 Acceleration Process
In September, the top 10 entries will be jointly selected by members of the jury. All applicants will receive necessary information on the status of their entries via email and/or SMS notifications.
The top 10 entries will be admitted into an eight weeks acceleration program where they will get access to Coach-Mentors, Capacity Building, a Community of Education stakeholders and strategic partnerships. In addition, they will gain access to Union Bank’s network of education customers and opportunities to provide global visibility for scale.
Demo Day & Announcement of Winners
After demo day, the top 3 winners will receive premium venture support from VHA Services for 12 weeks. This support will include guiding each solution to scale; linking and identifying relevant stakeholder to buy into solution and provide specialized assistance.
Benefits For Winners
Access to Acceleration program: The Top 10 entries will be admitted into an acceleration program where they will get access to Coach-Mentors, Capacity Building, and a Community of Education stakeholders and strategic partnerships.
Access to Union Bank’s network of education customers and opportunities to provide global visibility for scale.
Funding support towards scaling up a solution: The top 3 entries will receive a sum of N5m (1st – N2.5m; 2nd – N1.5m and 3rd – N1m)
Venture support to the winners which includes; supporting each solution to scale which will include linking and identifying relevant stakeholder to buy into a solution and providing specialized support based on the specific needs and advisory regarding the deployment and management of funding received.
Who is Eligibility 2019 edTech Challenge
The Challenge is open to anyone with great prototypes of innovative, cutting edge technologies that demonstrates a strong potential to transform the education system in Nigeria including but not limited to students, teachers, developers, designers, fintechs, tech companies etc. Prototypes are not ideas but minimum viable products (MVPs) that have been developed to a stage and need support to scale further.
The Challenge is not open to:
Employees of any company within the Union Bank group or employees of other financial institutions (commercial banks, microfinance banks, insurance companies, brokerages, investment companies).
Anyone professionally involved in the development or administration of this Challenge.
Any employee whose employer’s guidelines or regulations do not allow entry in the Challenge.
Union Bank employees may however participate in workshops and may be called upon to serve as judges.
Judging 2019 edTech Challenge
A panel of independently appointed experts will judge the entries based on but not limited to the following:
Functionality, aesthetics and potential to solve the problem identified in the application.
Commercial viability of the solutions/MVPs/Prototypes to be built, developed and tested.
Creativity and originality of solution; and
Thoroughness of the submitted materials in compliance with the 2019 edTech Challenge T&C, guidelines, and requirements.
The top ten entries will be admitted into an acceleration program where they will get access to Coach-Mentors, Capacity Building, and a Community of Education stakeholders and strategic partnerships. Selected entrants must be available to attend a 3-day boot camp in Lagos as part of the acceleration programme
The top ten entries will be required to show valid means of identification that will be verified before the pitch which will hold at the Edu360 event in October 2019.
The top ten entries will have the opportunity to pitch their solutions/MVPs/Prototypes to the panel of Judges and the best presentations will be chosen based on pre-set criteria.
Solutions/MVPs/Prototypes must be ready to be piloted with identified stakeholders or early adopters within three months following the Edu360 event.
The panel will vote and select a maximum of three entries at the Edu360 event; the panel’s decision is final.
The three winners will be notified at the event and by email or telephone using the information supplied at time of entry on the challenge website.
The three winners will receive cash prizes and be supported with the requisite premium support to accelerate and scale into sustainable ventures.
In cases where the solutions/MVPs/Prototypes have more than one owner, entrants must appoint a representative leader. The leader will be the main point of contact with Union Bank. The leader must act as a coordinator with the other team members and personally handle the use and possible division of their member’s personal time and financial participation in the project expenses (if any). Union Bank will not be liable for any claims in this regard.
Entrants must agree to the Terms and Conditions (pdf) stated herein as well as complete the Application Form Here for the 2019 edTech Challenge.
Submissions shall consist of a completed application via the challenge website as well as a visual presentation. The website provides instructions and requirements for submission, in addition to the requirements listed below:
All applications and supporting documents must be completed in English.
The entry or any part of it must not have won at any previous Union Bank Nigeria challenges.
The entry materials (document and video) as well as all supporting documents must be submitted via the link provided in the application.