Ibom Innovation Network Funds Winners for Global Growth

Hanson Johnson, President of Ibom Innovation Network, stated that the funding initiative aims to assist innovators in overcoming capital-raising challenges and developing businesses capable of competing in global markets.

During his speech at Akwa Ibom Tech Week, Johnson highlighted the smiles of the winning innovators as a significant achievement of the event, emphasizing that the finalists were selected through a competitive process involving over 300 applicants.

The prizes were funded by Seplat Energy, which contributed ₦5 million for the first prize, Ibom Air with ₦3 million for the second prize, and PitchNest with ₦2 million for the third prize.

Johnson expressed confidence in the innovators' ability to achieve success, stating that the goal is to establish a company valued at $1 billion within five years.

The conference, themed “Scaling the Frontier: From Homegrown Innovations to Global Markets,” was designed to tackle challenges faced by local innovators and create opportunities for business expansion beyond the state.

Johnson explained that panel sessions brought together industry veterans, government representatives, and university members to develop practical strategies for supporting homegrown innovation and building a sustainable technology ecosystem.