Automated contribution and settlement system SmartAjo has taken first place at Startup Weekend Lagos, winning three months’ workspace and mentorship to develop the business.
SmartAjo allows users to create a collective savings plan with friends and families; guarantees timely payment of the contributions and ease of payment through secure direct debit features.
Secure and transparent online voting/polls platform eVoting was ranked in second place, while Homable – the curated marketplace for interior design products and designers – took third position.
“Going from idea to a prototype in 54 hours is remarkable, and given that the teams had to validate their business model along the way makes it even tougher. The organisers, coaches and judges were visibly impressed with the quality on display. Right now, everyone is eager to help these startups with the support they need to succeed. They deserve it,” Francis Onwumere, one of the Startup Weekend Lagos organisers told Disrupt Africa.
The three winning teams received a three month membership to the iDEA Nigeria Yaba centre, as well as mentoring from Lagos Angels Network and Ingressive; while overall winner SmartAjo also received Kauffman’s FastTrac training from Ladlas Prince.
This year’s Startup Weekend Lagos saw four startup teams were selected from 17 ideas pitched at the beginning of the event, with the four teams then given 54 hours to build their new businesses and create a product.
Teams were judged on idea validation, business model, and execution and design; requiring them to create actual products, but also validate their concepts through customer acquisition.
A panel of entrepreneurs and investors comprising Dr Nadu Denloye, Tomi Davies, Mobola Onibonoje, Femi Taiwo, Tayo Fagbule, Olumide Soyombo, Bassey Daniel and Toba Obaniyi acted as judges, selecting the winners and provided feedback.