Vinsighte, a health technology project that makes use of technology to help blind and visually impaired persons live a happier and more comfortable life has been named the winner of the Union Bank Campus Innovation Challenge. The startup was founded by Kolawole Tomisin and Erioluwa Morenikeji, from the University of Ibadan, won 1.5 Million Naira for their initiative.
First runners-up, Obasogie Okpamen, Hermans Joshua and Usifoh Benedict all from Landmark University, received N1 million for their sustainable power project, Ina Lite while the second runners-up from the Federal University of Technology Akure, Alabi Oladimeji and Solomon Fabusuyi got 500,000 Naira for Farmally, an agricultural funding initiative.
In addition to the cash prizes, all 3 winning ideas will access a 6-month incubation programme with CcHub where they will receive the necessary support for their innovative ideas.
Speaking at the event, Lola Cardoso reiterated Union Bank’s focus on encouraging innovation among the youth of Nigeria having identified its importance to the future of Nigeria. She said: “Union Bank remains focused on supporting youth development and innovation; two elements we have identified as being vital to national growth and sustainability.”
She added: “We applaud the finalists and winners for their impressive ideas and hope the Campus Innovation Challenge will continue to inspire young Nigerians to think innovatively about creating solutions that will ensure Nigeria’s long-term development.”
While expressing their gratitude to Union Bank and CcHub, the first prize winners of the Challenge said: “We are excited at this opportunity to bring our dreams to life and we thank Union Bank and CcHub for providing this platform to showcase our idea and win this amazing prize.”
The application for the challenge spanned from July 4 to August 5, over 800 entries were received from students across the country with innovative ideas that sought to solve various challenges in the society.
Following the entry period, 9 semi-finalists were shortlisted from the vast pool of entries and invited to present their ideas, which were judged based on criteria including business model, innovation, capacity to execute, market opportunity and level of social impact.
The panel of judges included Union Bank’s Chief Digital and Innovation Officer, Lola Cardoso and Head, Transaction Banking, Chidi Ileka; Director of People at CcHub, Toun Tunde-Anjous; South-West Executive Director at Bank of Agriculture, Bode Abikoye and Executive Director, LEAP Africa, Femi Taiwo.
The Innovation Challenge is aimed at providing a platform for students of tertiary institutions to present innovative, technology-driven ideas that address social and business challenges, for a chance to attract financial and mentorship support from Union Bank- one of the leading social innovation hubs, Co-Creation Hub (CcHub).
