Winners in Lagos smart meter hackathon receive N10m

Team Power Bit Crunchers from the hardware category and team Zeena Platform from the software category, have emerged as winners at the Lagos Smart Meter Hackathon and have earned the combined prize money of N10 million to bring their innovative solutions to life and improve access to electricity in Lagos state.

Speaking on the high points of their respective prototype designs, Team Zeena Platform stated that their smart meter software solution could fix tariffs and usage restrictions to guide electricity consumption by users. “Administrators can control pricing, check working meters, energy consumption, and perform oversight functions. Our database will run on blockchain technology and data security of users is assured.” Power Bit Crunchers, winners in the hardware category team explained that their prototype smart meter can be monitored and controlled remotely, with additional tamper-proof functionalities which protect against bypass and other fraudulent activities.

Both winners and runnersup at the 3-day finals will also get working space at the Eko Innovation Centre in Ikoyi Lagos, while all 10 finalists will get mentorship opportunities, among other consolation prizes.

Although Lagos State government initially committed N7 million to appreciate the winners’ for their efforts before progressing to commercialisation, Babajide Sanwo-olu, governor of Lagos, Kola Balogun, chairman, MOMAS Electricity Meters Manufacturing Company Limited, and Bunmi Akinyemiju, CEO, Venture Garden Group, all contributed N1 million each to raise the total prize money to N10 million. Chantelle Abdul, CEO MOJEC International also contributed N2 million for the runners-up.

Olonma Ibrahim and Peter Okonma represented the hardware team, while Oluwasemi Oreoluwa and Adenitire Ayonikun represented the Software Team at the event.

Speaking on the significance of the initiative at the announcement ceremony at the Eko Innovation Centre, Ikoyi, Lagos, on Friday, Governor Sanwo-olu said: “Today is a true hallmark in our administration’s pursuit to improve the welfare of our people. As you are aware, a key pillar of our administrations T.H.E.M.E.S agenda is to make Lagos a 21st-century economy and this Lagos Smart Meter Hackathon fits perfectly as it combines innovation, creativity, and local capacity to deliver solutions that will improve access to electricity in Lagos.”