Big news everyone. The stakes just got raised. Instead of $10,000, the winner of the TechCabal Battlefield Competition will go home with a record $20,000.
As far as we know, $20,000 is by far and away the biggest startup prize to ever be up for grabs in Nigeria.
Stanbic IBTC’s initial pledge of $12,000 to the winner and first runner up has been augmented with a $10,000 contribution from iROKING.com. Total cash winnings at the TechCabal Battlefield now stand at $22,000. All of these come with no strings and in no way whatsoever represent an investment. The victorious startups take their winnings free and clear.
Let’s look a bit beyond the $$$. Our belief in the Nigerian startup ecosystem just got a huge dose of validation. The first thing for us is in a space dominated by the usual big-tech interests, mainstream entities in the financial sector have seen the future and are beginning to participate actively in it. Already bullish on SMEs, Stanbic IBTC Bank is playing a rather visionary role in Nigeria’s technology.
The second thing is that in addition to Stanbic’s contribution, TechCabal Battlefield is fully supported by other Nigerian startups. Jobberman, Konga.com, Capital Square and interestingly now, iROKING. We believe that the Nigerian startup ecosystem is truly entering a new era of collaboration as we see more local stakeholders come together to work for its advancement. We feel fortunate to live in these times.
For more information about TechCabal Battlefield, visit the event page. Startups that are yet to register to participate, what are you waiting for? Applications to the TechCabal Battlefield will end on the 5th of February, 2014. Apply now.