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The Paradigm Initiative is offering Nigerian student entrepreneurs the chance to secure NGN1 million (US$3,000) in prize money by taking part in the Taiwo Bankole Prize competition.

The Paradigm Initiative said the annual prize is designed to reward the best tech products designed by Nigerian undergraduates or teams of undergraduates.

The winning individual or group will receive the NGN1 million cash prize for further product development, with 20 finalists to be selected to pitch their products during the 2017 Tertiary Forum in Lagos.

Entrants must be willing to commit themselves fully to the development of their products upon selection, with applications open here until tomorrow (October 31).

The 20 finalists will pitch their products to a panel on November 28, ahead of the final stage on November 30. The judges’ decision will be based on five main criteria: Concept, Objectives and Creativity; Product Process and Operational Functionality; Target Audience and Marketability; Innovation and Solution Appeal; and Business/Financial Plan and Documentation.

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