A prize money of NGN1 million (US$3,000) is up for grabs in the Taiwo Bankole Prize competition hosted by The Paradigm Initiative.
The competition opened only to Nigerian student entrepreneurs is an annual prize designed to reward the best tech products designed by Nigerian undergraduates or teams of undergraduates.
Paradigm Initiative is a social enterprise that builds an ICT-enabled support system and advocates digital rights in order to improve livelihoods for under-served youth. The Initiative offers digital inclusion programs – such as the Life Skills, ICT, Financial Readiness. Entrepreneurship (LIFE) training program and Techtiary program plus a digital rights program- Magoyi.
The Initiative also offers means to improved livelihoods for under-served youth aged 12 to 28.
The winning individual or group will receive the NGN1 million cash prize for further product development, with 20 finalists to be selected to pitch their products during the 2017 Tertiary Forum in Lagos.
One important condition for application is that entrants must be willing to commit themselves fully to the development of their products upon selection, with applications open here until tomorrow (October 31).
Other conditions for application include:
- Each person or group is entitled to only one entry
- Multiple entries will be disqualified.
- More than one student from an institution can compete for the Taiwo Bankole Prize
- Entry sent by email will be disregarded
- More than one student from an institution can compete for the Taiwo Bankole Prize
The 20 finalists will pitch their products to a panel on November 28, ahead of the final stage on November 30. The judges’ decision will be based on five main criteria: Concept, Objectives and Creativity; Product Process and Operational Functionality; Target Audience and Marketability; Innovation and Solution Appeal; and Business/Financial Plan and Documentation.
