In a statement, the Executive Director of the bank, Jude Monye, said this at the maiden edition of the new innovation-driven concept, HB LAB yesterday, in Lagos.
Monye commended the contestants who made it to the LAB, while urging them to replicate the Rwanda’s ICT digital tech system feats.
He canvassed for indigenous production of advanced technological systems, as against leaving the core job in the hands of foreigners.
Addressing the applicants, Monye said, as usual, the financial powerhouse was known for supporting and sponsoring investment ideas that had the potency of challenging the status quo with the motive of impacting positively on the critical sectors of the nation’s economy.
According to him, the management of Heritage Bank was always seeking viable business ideas that could compliment the fiscal policies of the government with the ultimate aim of growing and developing the aggregate economy.
He stated, “At Heritage Bank, we help aspiring entrepreneurs to create, preserve and transfer wealth. What we are gathered here for today, is another moment of innovation-driven concept that is expected to provide startup enterprises with enabling environment, resources and support required to innovate and accelerate impactful solutions for the economic development drives.”
For this maiden edition, Monye explained that Heritage Bank had ceded the professional handling of the 12-week competition to a consultancy firm.
According to him, this was done to allow for professionalism, fair-play and objectivity.
He stated that his management was not really particular about any sector of the economy, as the winner could emerge from any industry as long as his proposal was strong enough to impact positively on the various sectors.
“We are not zeroing in on any particular idea or industry; we are more interested in the result achievable in different sectors,” he stated.
About 154 applicants who applied were reviewed, 30 who made above average score and grouped into 10 teams, while at the end of the 12 weeks programme, it will produce the best Tech start-up as a team.