Prizes and Incubation process
The best ideas generated & submitted will leverage Union Bank's expertise and the reach of its value chain to develop and scale. The top 3 ideas will receive immediate cash prizes of 2 million Naira, 1.5 million Naira and 1 million Naira respectively towards the execution of the idea. Further incubation support will be provided via the Co-Creation Hub (CcHUB) incubation services with full engagement with Union Bank.
Over the subsequent six months, the top three ideas will be supported with a range of services focused on product development, distribution and business modelling to turn their ideas into fully working products to launch in late 2020.
In addition to access to a range of different partners and mentors from the public and private sectors, winners will also have access to Union Bank's customers and employees and also leverage Union Bank's reach & strategic networks to bring their ideas to life.