The overall winners of the 2023 Innovation Jam have been awarded a total of K12.3 million in recognition of their outstanding contributions to innovation in Malawi after their trip to attend a prestigious conference in Kenya was cancelled due to unforeseen circumstances.
The award was facilitated by the National Bank of Malawi (NBM) plc, which had initially arranged for Richard Mtukula of ‘Know Your Customer (KYC)’ and Matthews Jere of ‘Khungu Langa’ software innovations to attend the 2nd Annual TICON Africa Conference in Kenya in September 2024 as part of their prizes.
However, when the trip was cancelled, NBM plc decided to provide cash compensation to the winners instead. Mtukula and Jere have received K6,150,000 each as a consolation prize.
NBM Marketing and Corporate Affairs Manager Akossa Hiwa emphasized the bank’s commitment to fostering creativity and honouring its promises.
“We recognize the importance of honouring our commitments to those who contribute to the spirit of innovation. While logistical challenges prevented us from facilitating the winners’ attendance at the TICON Africa Conference, this cash compensation demonstrates our ongoing support for these brilliant innovators and ensures they are celebrated for their achievements,” said Hiwa.
In his remarks, Jere, whose software is a platform for skin care and diagnosis, commended NBM plc for its dedication.
“This recognition and financial support will help us continue developing our innovative ideas and expand our business. Currently, we are working on integrating our system for further analysis and aiming to expand to other countries. This financial boost will help us engage AI developers and host the system on global servers to improve our analysis,” Jere shared.
In 2023, the Bank managed to fly the 2022 Innovation Jam winners to Uganda for a similar conference. NBM plc partnered with the ICT Association of Malawi (ICTAM), committing an annual K75 million for innovation incubation support, in addition to K40 million for the Innovation Jam initiative.
