Win as much as $10,000 Seed Funding within the NCDMB Oil & Fuel Know-how Hackathon
The Nigerian Oil and Fuel Know-how (NOGTECH) programme is the primary ever Oil and Fuel hackathon with the first intention of fostering improvements within the oil and fuel business in addition to making a platform for the proliferation of native content material. The programme is headlined by the Nigerian Content material Growth and Monitoring Board (NCDMB) with partnership from Learners Help Consultancy and BrentHub.
NOGTECH goals to handle the challenges confronted by the nation’s oil and fuel business and its linkage sectors by ideating, growing and prototyping digital expertise options that resolve these pertinent issues. The programme is selling innovation by providing seed funding, enterprise mentorship and incubation to the successful concepts.
The Govt Secretary of NCDMB, Engr. Simbi Kesiye Wabote, disclosed that “5 groups will get $10,000 equity-free grants every”.Commercial
In a webinar session titled “Innovating for the way forward for Nigeria’s Oil & Fuel Trade and its Linkage Sectors.”, Engr. Wabote revealed that submissions into the programme shall be scrutinised based mostly on a number of components.
”Contributors should be a staff/firm of at the very least two or extra members with at the very least 75 p.c of the founding staff as Nigerians. The staff/firm should be a registered, or meaning to register as a revenue/enterprise entity. The answer described in response to the problem should be pushed by digital expertise – Software program, or each.”
He additionally disclosed that “the answer should both be on the ideation stage, prototype stage or a launched answer that hasn’t gained industrial traction. The staff should be accessible to take part in a three-day hackathon in addition to a three-month incubation programme, if chosen.”
Fixing the Trade’s Hardest Challenges
NCDMB is decided to unearth scalable options to the business’s greatest challenges. A number of the recognized drawback areas embrace the rising drawback of pipeline vandalism, enhance in cyber-physical danger, widening ability hole, provide chain and logistics inefficiency, rising carbon footprint and points surrounding transparency, accountability and civic engagement.
Innovators are inspired to proffer sustainable and scalable options to those greatest challenges confronted by business stakeholders.
Pitching to Buyers
Finally, the successful groups can have a chance to pitch their prototypes to traders. However earlier than then, the NOGTECH programme is going down over a number of weeks with the chosen concepts advancing on a stage by stage foundation.
The primary stage is the decision for submissions the place groups and startups are inspired to submit their concepts. Shortlisted groups in every of the problem areas will first be invited to current on-line to a staff of skilled entrepreneurs and business professionals. Essentially the most promising groups will then be chosen to take part in an all-expense paid Three-day hackathon. Submit your concepts here
Throughout this time, shortlisted contributors can have a few days to collaborate and construct their prototypes or fine-tune current prototypes with steerage from business stakeholders, specialists and mentors. On the finish of the bootcamp, groups will revalidate their options and have the chance to pitch to a panel of judges.Prizes for Successful Groups
The successful 5 groups will endure a Three-month incubation program the place every staff will get a $10,000 equity-free grant, a work-space, skilled mentors, world companions and unprecedented market entry over three-months, guaranteeing they grow to be industrial and investor-ready.
On the finish of the incubation, the groups will take part in a showcase day to reveal their progress. This showcase will intention to attach them with traders and business stakeholders the place they will additional amplify their market entry.
So if you’re an innovator in search of alternatives, figuring out them and seizing those that then match, then you must apply to NOGTECH.
In an effort to take part within the hackathon, innovators, groups and startups can get began here.