Yochaa, a startup with a stockbroking mobile platform has emerged the winner of the inaugural Stanbic IBTC Innovation Challenge following a keenly contested pitch session to the executive leadership of Stanbic IBTC Holdings PLC (Stanbic IBTC) and Co-Creation Hub (CcHUB). The three finalists: Yochaa, Flutterwave and Venture Garden Group, pitched their solutions in the identified areas of stock trading, card issuance and data usage respectively; taking their chance at the prize money of $15,000 in total, with Yoocha emerging first, Flutterwave second and Venture Garden Group third. The executive pitch session came on the heels of an initial pitch day which held on October 12, 2018, at the Stanbic IBTC Blue (Innovation) Lab in Yaba, Lagos where nine shortlisted startups selected from over 200 entries received, pitched their solutions to senior management of Stanbic IBTC and Co-Creation Hub (CcHUB). In his opening remarks at the event, Chief Executive, Stanbic IBTC Holdings PLC, Mr. Yinka Sanni, commended the three finalists for making it this far and noted that all three solutions – regardless of eventual winner – will be considered for partnership as they underline the main objective of the competition; which is to improve efficiency, simplicity, and robustness in delivering the right customer experience. The Stanbic IBTC Innovation Challenge commenced with a call for ideas on August 6, 2018. This call for ideas required startups to submit applications demonstrating technologies, tools and services, in line with the identified solution areas within the organisation. Following this, a one-day ideation session tagged ‘Ideas Open Day’ held at the Stanbic IBTC Blue (Innovation) Lab in Yaba, Lagos on August 24, 2018, during which Stanbic IBTC hosted product development teams and technology start-ups across the country to ensure proper understanding of the challenge and submission of applications that are fit for purpose. The call for ideas closed on September 14, 2018.

Musa Suleiman
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