7 Things You Need to Know About MarkHack 2.0
“We are yet to experience notoriety for a homegrown technological breakthrough at a remarkable scale in the Marketing Industry, ” Victor Afolabi, Founder , Eko Innovation Centre and Curator of MarkHack once said.
To bridge the gap, MarkHack powered by Eko Innovation Centre and supported by GDM Group and other partners was launched in 2022
In its second edition, the initiative is making a giant stride in the marketing and media industry in Nigeria and globally. This year, the organizers promise to make it bigger than the maiden edition.
Brand Times takes a look at the initiative and highlights seven (7) things you should know about it.
What it Stands for
MarkHack stands for Marketing and Media Hackathon. It is the first of its kind in the country and aims to provide media and tech solutions that can disrupt marketing in key focus areas such as Consumer Experience, Media Consumption, Consumer Interaction, Trade and Retail Engagement, Analytics and Metrics, Events Marketing, Media Monetization, and Content Creation.
Amazingly, MarkHack 2.0 promises to redefine the future of marketing and media by fostering innovation and collaboration among professionals, students, and entrepreneurs.
It will also bring together innovators, entrepreneurs, policymakers, marketing professionals, disruptors, and corporate bodies to create innovative solutions to real-time marketing and media challenges.
Prize to be won
Finalists will have a chance to join an accelerator program with up to $10,000 equity investment and a chance to be mentored by industry experts for 3 months.
According to the organizers, about 1,365 applications were received from participants from 92 locations across Europe, Asia, and Africa who submitted their entries.
From the registered participants, 230 teams were formed to brainstorm innovative ideas, concepts, and prototypes in three focus areas: Immersive Experience (XR) -57 teams, Content Creation- 119 Teams, and Robo Marketing- 54 Teams.
Markhack 2.0. will run for 3 months and it will feature a launch event (which was held recently), pitch sessions, workshops, masterclasses, and mentorship sessions to help participants develop their skills and provide them with the resources they need to turn their ideas into market-ready products.
The MarkHack 2.0 pitch event will be judged by 22 industry experts, who will select the top ten teams to advance to the finals. Eventually, only five winners will emerge at the grand finale.
The grand finale will hold on the 7th of July, 2023 at the Oriental Hotel in Victoria Island, Lagos.
Past Event & Winners
Recall, LiveBIc, which comprised Shadrach Akao and Ernest Ogbanefe emerged as the overall winners at the maiden edition last year from a list of 10 finalists involved in the pitch at the final. LiveBIc won the star prize of $10,000 for developing a new platform for content creators to market and deliver their content.
Sprayme clinched the second position and $4,000 prize money for innovating a new way for social gifting and content monetization; Reelbuzz emerged the winner of the third position with $3,000 for creating an intuitive platform that helps brands connect and command higher brand loyalty; Innovators took the fourth position as well as $2,000 prize money for directing the leads for businesses and turning them to paying customers and Monify Cookies, fifth position with $1,000 for developing a browser tool that provides its users the ability to block all unsolicited ads and earn money from allowed ads.
The winners and runners-up were given free working space at Eko Innovation Centre, while all ten (10) finalists got mentorship opportunities, among other consolation prizes.