Health-tech Startup IRETI Wins N15m Wema Bank Hackaholics 2023

The Wema Bank Hackaholics 4.0 edition was won by IRETI, a health-tech firm that helps women bridge the gap and manage breast cancer.

The winner was announced over the weekend in Lagos during the Wema Bank/ALAT Hackaholics Digital Summit and Grand Finale titled ‘Re-imagine: Disrupting the Ecosystem for Scale’.

For the best pitched business, IRETI received a N15 million cash award, while GRIP, a financial startup, received N10 million as the first runner-up and Trakka received N7 million as the second runner-up. Outsidee also received N5 million for the Women Led Award, an award established to empower women in technology.

Other winners were Naijabox as the best energy company, PUP Industries as the best climate subset, MumAlive as the best health startup, Chao as the best e-commerce startup, and University-X as the best edutech startup.

IRETI, GRIP, Trakka, Outsidee, Chao, Raptor, Pup Industries, University-X, Naijabox, and MumAlive are the ten finalists for Hackaholics 4.0.

In addition, three universities received funding from the Wema Bank Science, Technology, Engineering, and Mathematics endowment fund. Babcock University received N10 million, Afe Babalola University received N7 million, and Nile University received N5 million.

“Going forward, we will be able to reach out to women in urban communities and also women in rural communities because we are partnering with NGOs. We are reaching out to them; helping them to create awareness about breast cancer – it kills, but you stand a chance to live if you detect early and start treatment on time,” Jane Agbaohwo, founder and creative director, IRETI, said after picking the prize.

Moruf Oseni, MD/CEO of Wema Bank, stated that the bank’s unique blend of traditional banking experience and technology integrated deeply in the bank’s system has given them the potential to help the expansion of Nigeria’s tech ecosystem.

“We also recognise that any economy that is serious about sustainable economic and social development must pay serious attention to science, technology, engineering, and mathematics education. Entertainment and sports have put Nigeria on the global landscape in a positive light; but they cannot help to predict technology and infrastructure deficits that will see Nigeria achieve its true potential,” Oseni said.

In a keynote talk, Olugbenga Agboola, Founder and CEO of Flutterwave, stated that events like Hackaholics 4.0 may provide tremendous chances to founders who are employing technology to solve both local and global concerns. He praised Wema Bank for establishing institutions to foster innovation in the fintech environment.

Tunde Mabawonku, ED of Wema Bank’s retail and digital division, stated that the digital summit crosses boundaries to bring together digital innovators, visionaries, and industry executives from throughout Nigeria.

“It’s all about harnessing the collective potential of startup founders to redefine the boundaries of what’s possible in the digital age,” Mabawonku stated.

According to him, the theme for this year’s Hackaholics encapsulates the very essence of the bank’s innovation program.

“It embodies our sheer belief in a world where change is only constant. Our ability to reimagine and disrupt the status quo is what sets us apart,” Mabawonku added.

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