Ecobank Nigeria, in collaboration with Heave Ventures, has unveiled a new initiative aimed at empo
wering young Nigerians in the creative and STEM (science, technology, engineering, and mathematics) sectors. The competition, named InnovateX, is targeting individuals between the ages of 16 and 25, with a prize pool of N20 million to be shared among the top ten participants.
The launch event took place in Lagos on Tuesday, where the Managing Director and Group Executive of Ecobank Nigeria, Bolaji Lawal, explained that InnovateX goes beyond being a regular competition. According to him, the programme is part of Ecobank’s wider mission to develop the next generation of African entrepreneurs by combining financial support with education, mentorship, and global exposure.
“InnovateX is Ecobank’s initiative to shape the future of African enterprise. By equipping young creators and innovators with practical tools and opportunities, we empower them to transform their passion into scalable impact,” Lawal said.
The competition is divided into two major categories. The first is for creatives such as content creators, designers, and artists, while the second focuses on youth involved in STEM. Participants will be trained on how to pitch ideas, manage projects, and build viable businesses.
Ecobank noted that the programme would include hybrid boot camps, expert-led workshops, one-on-one mentorship sessions, and international networking opportunities. The initiative is also expected to culminate in a high-profile grand finale, where finalists will pitch their ideas to a panel of judges made up of business leaders, investors, and industry experts.
The top ten performers will share the N20 million prize money, in addition to receiving further support from Ecobank and its partners to grow their businesses or ideas. Lawal added that participants would gain long-term value through the platform’s training and development model.
InnovateX also serves as a platform to promote Ecobank’s youth banking product, the Blaze Account. This account is tailored for young, digitally inclined customers who are looking for smarter ways to manage their finances and build a strong financial foundation early in life.
The bank described the Blaze Account as a key part of its holistic youth empowerment strategy, offering financial services, career development, and personal growth tools. Participants in InnovateX are encouraged to open Blaze Accounts as part of their journey, to receive both financial and non-financial support.
“As part of this holistic youth empowerment approach, the Blaze Account serves as a gateway for participants to maximise the InnovateX experience. It offers financial, creative, and professional support throughout their journey. Whether you’re a content creator, tech innovator, or aspiring leader, this is your platform to shine,” the bank said in its statement.
The launch of InnovateX has been well-received among stakeholders in the education, technology, and creative sectors, many of whom see it as a much-needed initiative to address youth unemployment and skill gaps in Nigeria.
The collaboration with Heave Ventures, known for its work in youth-focused innovation and entrepreneurship, is expected to provide an added layer of credibility and technical support to the competition.
As the registration portal opens, young Nigerians across the country are being encouraged to submit applications and take part in the programme. According to the organisers, the competition will run over several months, beginning with initial training sessions and culminating in the final pitching event later in the year.
InnovateX represents Ecobank’s latest effort to position itself as a youth-friendly brand that goes beyond banking by contributing to social and economic development. The bank has been actively investing in digital innovation and community engagement, especially among underserved demographics such as the youth.
With the Nigerian economy facing challenges, particularly in youth unemployment and skills mismatch, initiatives like InnovateX are seen as timely and relevant. By combining financial incentives with capacity-building, Ecobank and Heave Ventures hope to unlock the creativity and resilience of Nigerian youth, encouraging them to build solutions that can transform their communities.
