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@StanbicIBTC Supports Nigerian Businesses With $12,000 At TechCabal Battlefield Competition

To boost the small and medium enterprise (SME) segment of the Nigerian economy, Stanbic IBTC is supporting the Tech Cabal Battlefield competition for startup businesses by offering cash prizes to the winner and runner-up in the competition.

 

 

The SME segment is the major driver of the Nigerian economy and Stanbic IBTC has shown its commitment to highlight the remarkable work of entrepreneurs building businesses that energize the different growth sectors of the economy. Speaking on why the bank is keen to support technology enabled businesses, the Executive Director for Personal & Business Banking at Stanbic IBTC Bank, Mr. Obinnia Abajue, said that technology is a significant enabler of global competitiveness and Stanbic IBTC will supports Nigerian businesses with the financial solutions needed to compete in the dynamic global environment.

 

The TechCabal Battlefield is a showcase of Nigerian technology where start-ups will get the chance to present their businesses to an audience of users, technology enthusiasts and investors during the 2014 edition of Social Media Week Lagos.

 

 

To enter for the Battlefield, start-ups must meet the following criteria:

• Must not be older than 2 years

• Must have received less than $200,000 in funding

• Must have a substantial tech component which is live at the time of competition i.e. corporate website does not count {start-ups in beta will be allowed in special circumstances if there is a reasonable expectation that they will launch in less than 3 months from the competition}

• Must serve Nigerian customers/be based in Nigeria

 

The start-ups will begin their Battlefield journey by applying to the Academy at www.techcabal.com, on or before 5 February, 2013. After a rigorous selection process by a committee of experts, seven start-ups will be shortlisted for the final stage of the competition. These shortlisted companies will initially proceed to the academy and receive hands-on training from the Faculty – in business, financials, & technology and presentation skills.

 

On the 19th of February, the seven Faculty-honed start-ups will take to the field to present to a panel of judges – experienced entrepreneurs, consultants and financiers – and battle it out for the star prize.

 

Apart from being a sponsor of Social Media Week Lagos from its inception last year, this partnership with TechCabal reiterates Stanbic IBTC’s position as the dominant business partner for SMEs and other businesses across Nigeria.

Stanbic IBTC Holdings PLC, a member of The Standard Bank Group, is a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management.

Standard Bank Group is the largest African bank by assets. It is rooted in Africa with strategic representation in 18 countries on the African continent, including South Africa.

Standard Bank has been in operation for over 150 years and is focused on building first- class, on-the-ground banks in chosen countries in Africa and connecting other selected emerging markets to Africa and to each other, applying sector expertise, particularly in natural resources, globally.

 

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