A Team from the Federal University of Technology Akure (FUTA) has won the 2022 edition of a digital based competition for undergraduates students sponsored by Wema Bank.
The competition, Hackaholics, hosted by ALAT under the aegis of Wema Bank allows start-ups to pitch their unique business solutions using digital configurations developed by them for a grand cash prize of N5 million and other business support (including technical).
The Team FUTA made up of Ige Shalom Oluwaseun, Otobo Nemi Richard, Abisuwa Oluwadunsin Timothy, Agunbiade Temitope Comfort and Jumbo Tamarapreye Toluwanimi all year four students, studying Industrial and Production Engineering and Mechanical Engineering, respectively fended off challenges from Teams from University of Ilorin and the University of Lagos to emerge the overall best and winner of the Grand Prize.
The Bank selected three institutions with a budding community of Tech Talents, which include Babcock University, the University of Lagos, and the Federal University of Technology, Akure for the preliminaries.
Over 770 entries were received nationwide for the competition, which were pruned and teams for the preliminaries were selected.
The pitch preliminaries were held in FUTA on February 15 and 16, 2022, with over 200+ entries with three teams qualifying for the grand finale in Lagos from the Centre.
The three teams, ROOMME, XPRESS, and TRADDEX presented brilliant ideas and superb business models and were picked as Representatives of FUTA Centre
The grand finale was held on May 2, 2022, at the Wema Bank Training School, Ilupeju Lagos, where the best nine teams from the three locations – Babcock, University of Lagos and FUTA- pitched their business ideas.
The ideas were judged by Ibifuro Apiafi, Chuba Ezekwesili, Joel Ogunsola, and Olamide Oladele, investors and the general populace who were available at the scene.
Team ROOMME from FUTA was adjudged as the Team with the best idea and declared as winner of the first position with a grant of N2.5 million. Team Roomme’s digitally based business idea aims to solve the housing problems of the society.
ROOMME is an online platform that matches individuals with apartments and potential roommates BASED ON UNIQUE PREFERENCES determined via digital configurations. The judges found the idea to be unique and targeted at solving real societal problems.
Team Kodar Tech from the University of Ilorin won the second position with the problems N1.5 million Naira, and team Ajovest from the University of Lagos came third winning the sum of N1 million Naira. The 2022 edition, the third in the series, was dedicated to start-up businesses which are being run by students.
The Vice Chancellor, Professor Joseph Fuwape has congratulated members of the team, describing them as worthy ambassadors of FUTA.
“I am elated that students of FUTA have continued on the path of Excellence and Contributing to proffering solutions to real societal problems. Members of Team Roomme have done our University proud and their names will be recorded in our Hall of Fame,” Professor Fuwape said.
