Technology
Winners Emerge in NCDMB Local Content Hackathon
By Adedapo Adesanya
Five teams have emerged as winners in the Nigerian Oil and Gas Technology (NOGTECH) Hackathon sponsored by the Nigerian Content Development and Monitoring Board (NCDMB).
At the event, which was held over the weekend in Lagos, the panel of judges picked projects from Fuel Intellisense, Homefort Energy, Gricd Mote, Kiakia Gas and Airsynq as the most innovative and bankable.
During the grand finale of the programme, which specifically took place on Saturday, 15 semi-finalists made presentations on their innovations.
Each of the five winning teams received a cheque of $10,000 equity-free grant and will proceed to participate in a 3-month incubation programme during which they will get workspace, expert mentors, global partners and market access to the nation’s oil and gas industry, ensuring they become commercial and investor-ready.
Speaking at the event, the Executive Secretary of NCDMB, Mr Simbi Wabote, announced that the board will support the five firms in their product development phase, drawing from the $50 million Nigerian Content Research & Development Intervention Fund.
The board’s support, he said, will go into helping the companies get patents for their innovations and produce prototypes, supporting them to conduct field trials, business start-up as well as provide industry linkages.
He, however, confirmed that the board’s funding would depend on the success of the product incubation phase, stressing that “the goal is to fund bankable businesses, not charities.”
He explained that the sponsorship of the NOGTECH Hackathon is within the board’s mandate, hinting that section 70 of the Nigerian Oil and Gas Industry Content Development Act empowers “the board to engage in targeted capacity and capability development interventions and conduct studies, research, investigation, workshops and trainings aimed at advancing the development of Nigerian content.”
In May 2020, during the height of COVID-19 lockdown, the board announced the event because it saw the opportunity to create a platform for local creation of digital technologies to solve problems for the Nigerian society.
He added that NCDMB was also keen to stimulate the participants to channel their intelligence and become successful entrepreneurs.
Mr Wabote counselled the five winning teams to be clear about their vision and strategy and retain their passion, stressing that their motivation should not be on making quick financial gains, rather on innovating solutions, making a difference and contributing to the society.
According to him, “All the greatest inventors, particularly in the technology space did not start by looking for money as the objective. They started because they wanted to make a difference and create a change. The prize money is not the key factor. It was meant to bring people together.”
“Once you have a passion for anything that you do, you will be successful. But once you put money first, you will be chasing money and it will be running away.”
He also advised other participants of the programme to stay committed, passionate and driven by value, stressing that there were many other routes to push their ideas to the market and the real winners are defined by the marketplace.
One of the winning teams is Fuel Intellisense, a project that will help fuel stations to get accurate data and avoid loss of revenue through syphoning underground fuel or stealing of fuel from different outlets. The project proposes to install a system that can be viewed remotely from anywhere, showing how much fuel was dispensed per day and what is left. The system will be installed on existing pumps and tanks.
Another project is Homefort Energy, which seeks to make cooking gas affordable and accessible to low-income families, whereby they can pay for gas using the pay as you go model. The initiative seeks to help millions of Nigerians, especially the rural poor to switch from using firewood or kerosene to cooking gas.
Another winning project is Gricd Mote and the proponents explained that it would provide cool shade transportation for temperature-sensitive items in the health sector and the oil and gas space and store them in correct conditions. The product will also provide monitoring for temperature humidity and locations of these items.
Kiakiais is another winning product and it seeks to get gas to the end-users while enabling them to know the quantity of gas left in their cylinders so that they don’t run out of gas in their homes. The system will also be used to order for gas and can be deployed by gas plant owners to manage sales in their plant.
The fifth project is Airsynq, a novel idea of balloon lifted satellite that uses helium to stay in flight up to about 2160 hours or about 90 days and having to come down for 24 hours routine maintenance. This technology can provide a year continuous area surveillance, with an artificial intelligence software that can help international oil companies and security teams monitor all the activities around areas where the balloon is deployed. The balloon goes through a routine of checking each image in real-time and then reports every activity that is happening with sensors that are able to pick out images from an altitude of about 3000 metres and with the balloon lifted satellite operating at about 3000 feet above the ground.
NOGTECH is the first-ever technology Hackathon in the Nigerian Oil and Gas industry and it was organized by the NCDMB in partnership with Learners Support Consultancy Company.
The General Manager, Capacity Building Division NCDMB, Mr Ama Ikuru explained that call for entries was made in June in seven thematic areas: health, asset security, tackling cyber threats, renewable energy, skills and talent management and supply chain. He said that a total of 630 entries were received at the close of submission in the third week of July.
The entries were subjected to two stages of review, first from internal NCDMB Judges and then from external judges, before the top 15 teams were selected for the three-day Hackathon.
He revealed that the board was also working on other projects in support of technology development and innovations in the Oil and Gas Industry. Some of the initiatives include the sponsorship of ENACTUS – Science and Technology Innovation Challenge; Establishment of modern Research & Development Centres of Excellence; Upgrade of Laboratories in Universities and Technical and Vocational Education and Training; Active participation in Technology Expos and NCDMB Research Product Development framework to help inventors attain market penetration.
By Dipo Olowookere
To tackle the critical cash flow challenges faced by Small and Medium Enterprises (SMEs) across Africa, investors like P2Vest, Norrsken Accelerator, Afrinovation Ventures, Kaleo Ventures, and 54 Collective (formerly known as Founders Factory Africa), have invested about $1.6 million into Billboxx.
The integrated billing-to-payment platform, founded in 2023, successfully closed the pre-seed funding round, which is a mix of debt and equity, due to its innovative approach and commitment to building a more financially secure future for SMEs – the backbone of the African economy.
Manual invoicing and deferred payments often result in delayed payments, stifling many SMEs, but Billboxx’s integrated billing-to-payment platform streamlines billing processes, reduces inefficiencies from manual invoicing and mitigates the impact of deferred payments.
By providing automated billing and invoicing, secure payment facilitation, and tailored cash flow financing, Billboxx empowers businesses to achieve consistent cash flow and focus on growth.
Since its inception, the company has facilitated over $4 million in invoice payments through its MVP launched in May 2023.
The platform boasts strategic integrations with a leading commercial bank in Nigeria, a prominent African payment gateway, and multiple lending partners, enabling seamless payment facilitation via bank transfers, cards, and financing options.
“Cash flow difficulties are the leading cause of business failures in Africa, with delayed invoice payments being a major contributor.
“Billboxx is dedicated to solving these issues with an integrated platform that ensures consistent cash flow and financial resilience for businesses.
“This funding round enables us to expand our impact and empower more SMEs to thrive,” the co-founder and chief executive of BillBoxx, Mr Justus Obaoye, said.
Another co-founder and chief technical officer, Mr Abdulazeez Ogunjobi, noted that, “Delayed invoice payments pose a significant threat to SME growth and survival.
“Our platform not only streamlines the billing-to-payments workflows but also offers strategic embeddings to expedite payments. We aim to alleviate payment concerns and allow SMEs to focus on their core business.”
One of the investors, Bongani Sithole of 54 Collective, said, “We’re enthusiastic about the innovative work the Billboxx team is building. These 3x founders with successful exits under their belts are leveraging their leadership and business experience to tackle a massive pain point for SMEs across Africa.
“We invested in the company due to the large market size of the opportunity, impressive early traction gained from strong early partnerships with notable large corporates and startups, and the solid tech product the team has developed. We’re delighted to back Justus and Abdulazeez as they continue to scale Billboxx.”
Mr Obaoye and Mr Ogunjobi previously co-founded two startups: Charistouch (Carido), successfully acquired by Cars45, and Fixit45, a spin-off from Cars45.
Their leadership experience in large corporations and scaleups such as Schlumberger, Bolt, and OLX add to their strategic insight and entrepreneurial prowess.
As technology advances, the internet is undergoing a revolutionary shift toward decentralization. Known as Web3, this next phase of the internet is redefining how we interact with digital systems by emphasizing transparency, user ownership, and autonomy.
At the heart of this evolution are Web3 developers—professionals whose expertise in blockchain and decentralized systems is driving innovation and creating exciting new opportunities. Pursuing a Web3 career is not just about adapting to industry trends; it’s about shaping the future of technology. In this article, we’ll explore why Web3 developers are in high demand and how you can step into this promising field.
What is Web3?
Web3 represents the decentralized evolution of the internet. Unlike its predecessor, Web2, where centralized platforms dominate, Web3 leverages blockchain technology to create an ecosystem that is transparent, secure, and community-driven.
Some of the defining features of Web3 include:
- Decentralization: Control is distributed among users rather than being concentrated in a single organization.
- Transparency: Blockchain technology ensures that all transactions and operations are open and verifiable.
- Automation: Smart contracts allow for self-executing agreements, reducing the need for intermediaries.
This paradigm shift has unlocked immense opportunities, particularly for developers who can create, manage, and enhance Web3 applications.
Why a Web3 Career is the Future
- Rapid Growth in Blockchain Technology
Blockchain is no longer just about digital currencies; its applications have expanded to include finance, healthcare, logistics, and gaming, among others.
This rapid adoption is driving an unprecedented demand for Web3 developers to build decentralized applications (dApps) and integrate blockchain solutions across various sectors.
- High Demand and Competitive Compensation
The demand for Web3 talent has outpaced supply, making it one of the most lucrative fields in tech. Web3 developers often earn significantly more than traditional developers due to their specialized skills.
Many roles offer remote and flexible working arrangements, enabling global opportunities.
- Opportunities for Innovation
Web3 is still in its infancy, making it a playground for innovators. From creating decentralized finance systems to building virtual economies in the metaverse, developers have the chance to work on groundbreaking projects that redefine industries.
Key Skills for a Successful Web3 Career
To excel as a Web3 developer, mastering certain skills is essential:
- Programming Knowledge: Proficiency in languages like Solidity, Rust, or Go, commonly used in smart contract and blockchain development.
- Blockchain Fundamentals: A deep understanding of how decentralized networks function and their architecture.
- Smart Contracts: The ability to design and implement self-executing contracts.
- Cryptography: Knowledge of encryption techniques to ensure security in applications.
Soft skills such as adaptability and problem-solving are equally important, given the fast-paced nature of the industry.
Benefits of Pursuing a Web3 Career
A career in Web3 comes with a range of unique advantages:
- Global Reach: The decentralized nature of Web3 opens doors to international opportunities without geographical limitations.
- Future-Ready Skills: Web3 expertise is increasingly sought after, offering a secure and sustainable career path.
- Collaborative Ecosystem: Unlike traditional tech environments, Web3 thrives on open collaboration and community-driven development.
- Freedom to Innovate: Developers have the flexibility to experiment and contribute to transformative projects.
Steps to Start Your Web3 Journey
Breaking into a Web3 career may seem challenging, but with a focused approach, it’s entirely achievable. Here’s how to get started:
Understand the Basics
- Learn the core concepts of blockchain technology, decentralized systems, and smart contracts.
- Explore educational resources, tutorials, and online communities for foundational knowledge.
Develop Technical Skills
- Master programming languages and frameworks commonly used in blockchain development.
- Familiarize yourself with Web3-specific tools and libraries to streamline your workflow.
Build Projects
- Start small by creating basic decentralized applications or experimenting with smart contracts.
- Showcase your work in a portfolio to demonstrate your capabilities for a potential employer.
Engage with the Community
- Join forums, developer meetups, and hackathons to network with others in the field.
- Stay updated on industry trends by following Web3-focused discussions and publications.
Continue Learning
- The Web3 space is constantly evolving, so staying up-to-date with advancements is crucial.
- Seek out certifications or courses to deepen your expertise and credibility.
Challenges and Future Outlook
While the opportunities in Web3 are immense, they come with challenges. The fast-evolving technology requires developers to continually upskill. Additionally, the regulatory landscape for blockchain and decentralized systems is still developing, which may introduce uncertainties. A Web3 career offers more than just a job—it provides a chance to shape the next wave of technological innovation. As industries embrace decentralization, the demand for Web3 developers will only grow. Whether you’re a seasoned tech professional or someone looking to enter the field, now is the perfect time to explore this exciting career path. By stepping into the world of Web3, you’re not just advancing your skills—you’re becoming part of a movement that’s redefining how we connect, transact, and collaborate online. The future of technology is here, and it’s decentralized. Will you be part of it?
By Adedapo Adesanya
HubPharm has emerged as the winner of First City Monument Bank (FCMB)’s HERccelerate Showcase Day held recently at Hub One, FCMB’s Innovation Hub in Yaba, Lagos.
The tech accelerator, powered by FCMB’s SheVentures and Hub One and delivered by 8thGear Hub & Venture Studios, was designed to empower women-led startups in Nigeria with the skills and resources needed to secure funding and scale.
HubPharm was the best out of 10 finalists with Midddleman, a platform simplifying payments for African e-commerce businesses sourcing from China coming second, while Onit, a productivity tool designed for African SMEs, secured third place.
The Showcase Day brought together the finalists selected from over 1,000 applications who pitched their innovative solutions to a panel of judges.
Ms Tope Kareem, the co-founder of the startup explained that HubPharm is a digital platform with a retail pharmacy chain which has delivered over 100,000 medications across 15 cities, ensuring 98 per cent on-time delivery with AI-driven logistics.
We plan to explore more options and ensure Nigerians, both at home and abroad, know the importance of prioritizing their health. This funding will enable us to keep growing and making an impact,” she noted.
Speaking on the HERccelerate initiative, Mrs Nnenna Jacob-Ogogo, Group Head of SheVentures, described it as “a testament to what we can achieve when we invest in women. While this is the first pilot of its kind, it is clear that women in tech have the talent, resilience, and vision to drive innovation.”
She also highlighted SheVentures’ broader impact, noting that over the past five years, they have “scaled businesses through four key pillars: access to finance, knowledge, markets, and networks. Our Zero Interest Loan program has provided over N800 million in funding to women entrepreneurs so far, an unprecedented achievement in the industry.”
The top 10 finalists will get free access to Hub One’s coworking space for a year, valued at over N5 million and will also be supported to scale their businesses.
FCMB’s HERccelerate programme is setting a new standard for supporting women in tech, with plans to accelerate over 200 startups in the next five years. By fostering innovation and inclusion, FCMB is shaping a brighter future for women entrepreneurs in Nigeria.
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