Union Bank’s Centenary Innovation Challenge produces winners

Ized Uanikheli of Locitrax group has emerged winner of the Union Bank’s Centenary Innovation Challenge.

Union Bank Centenary Innovation Challenge is an initiative set up by Union Bank in partnership with Co-Creation Hub to unearth and provide entrepreneurs and tech innovators financial and mentorship support from the bank and the innovation hub.

Uanikheli ’s idea, ‘Biodegradable Plastic Bags,’won her the sum of N2 million.

The first runners-up were Abuyaziz Musaddiq and Mohammed Mustapha Ilyas who built Agartech, a device for the preservation of fruits and leaf vegetables using solar empowered drier. They went away with N1.5 million.

The second runner-up, Peter Ayeni got N1 million for producing,“Mbele,” a learning gamification/ educational approach to learning by using video game design and game elements.

Nine ideas were pitched at an event that held in Lagos to a panel of judges made up of Union Bank’s Senior Executives and Executives from Fate Foundation and Co-Creation Hub.

Speaking at the event, Union Bank CEO, Emeka Emuwa said, that the Union Bank Innovation Challenge was launched earlier in the year, as part of the bank’s centenary anniversary celebrations to support entrepreneurial ideas in fulfilment of SDGs.

“We launched the Innovation Challenge; placing a call for young Nigerians with innovative ideas which address the Sustainable Development Goals to send in their entries.
Today, we have delivered on the promise we made to support these innovators as they seek to address the goals through entrepreneurial ideas. As a bank, we remain committed to contributing our quota towards the achievement of these ambitious Sustainable Development Goals.”

Expressing her joy, Uanikheli said that her win would serve as encouragement for her to do more.

"I am glad that my dreams are coming to reality and I wish to express my sincere gratitude to Union Bank for giving us this platform to showcase our innovative idea. I believe this will encourage other SMEs and innovators to believe in their ability to create great things and make life better for everyone."

Union Bank Centenary Innovation Challenge focuses on addressing the SDGs particularly as they relate to Agriculture, Education and Financial Inclusion.