Zenith Bank has announced the fourth edition of its flagship startup competition and incubation programme, Zecathon 4.0. The initiative targets early stage startups in Nigeria developing solutions across multiple sectors including embedded finance, cybersecurity, fintech, healthtech, agritech and e-commerce.
Group Managing Director, OON, Dame Adaora Umeoji highlights Zenith Bank’s commitment to nurturing Nigeria’s startup ecosystem. The programme combines a pitch competition with a six-week incubation period designed to provide mentorship, exposure and strategic partnerships.
A total prize pool of N77.5 million awaits successful participants. The top three winners will receive ₦25 million, ₦20 million and ₦15 million respectively. The other seven finalists will receive £2.5 million each. In addition to the financial rewards, the winners will receive access to a comprehensive incubation programme running from December 2024 to February 2025.
Applications are open until 15 November 2024. Finalists will be announced on 18 November, with the physical pitch competition scheduled for 21 November. Eligible startups must be registered Nigerian companies operating in a specific sector and have a viable product or MVP that demonstrates market potential.
Last year’s competition focused on emerging talent in the Nigerian tech sector. Sync took first place with ₦20 million, followed by Skil Up With Kahdsole with ₦15 million and Tribapay with ₦10 million. The other seven finalists received ₦2 million each while participating in the incubation program.
Implementation partner Beyond Limits brings expertise in nurturing entrepreneurship, growing the tech ecosystem and digital transformation. Their involvement strengthens the program’s ability to nurture emerging businesses effectively.
This initiative is significant as Zenith Bank has established itself as Nigeria’s largest bank in core capitalization. The bank was founded in 1990 and has over 500,000 shareholders. It listed on the London Stock Exchange in 2013 and is valued at $850 million, proving its international influence.
The competition focuses on sectors that are critical to Nigeria’s digital economy. Selected participants will receive mentoring opportunities and access to strategic partnerships that are essential to scaling their business. This support structure helps startups meet the challenges of the evolving technology environment.
Interested startups can apply through the official website. The program requires participants to demonstrate a scalable business model and clear growth potential. This requirement ensures that selected startups can maximize the benefits of both financial support and incubation resources.
The initiative reflects a broader effort to strengthen Nigeria’s technology sector by engaging the private sector. By combining competition with focused support, Zecathon 4.0 will create opportunities for innovative start-ups to secure funding while developing sustainable business practices.
