In order to maintain their competitive edge in the tech-driven industry and grow their businesses through innovative digital marketing strategies, three Nigerian technology entrepreneurs have secured equity investments totaling more than $20,000.
Out of the 75 participating startups from four African countries, the startups that won the MarkHack 3.0 startup pitch also received laptops, $10,000 in AWS credits, access to the $10,000 Eko Innovation Centre (EIC) Accelerator program, and seed funding from program partners.
Four main themes – e-commerce evolution, AI-driven personalization, blockchain for business, and localizing XR – were the subject of the competition, which was organized by the Eko Innovation Centre in association with the GDM Group and Brand Communicator.
The creator and organizer of MarkHack, Victor Afolabi, spoke during the competition’s grand finale in Lagos. He stressed the need of being ahead of the curve for companies and organizations in an era where the media and marketing landscape is changing quickly.
He pointed out that marketing has moved into the metaverse and is now using blockchain technology and artificial intelligence for customization.
According to Afolabi, these developments make money more accessible, which helps companies to invest in the advancements in digital marketing that they need to stay competitive. According to reports he referenced, the digital advertising business is expected to reach $272.4 million this year, and the marketing communications industry is expected to achieve a $2 billion market value by 2025.
According to Afolabi, the marketing gap in Nigeria shows the disparity between what businesses are doing now and what they may achieve by implementing cutting-edge strategies.
Joshua Ajayi, Publisher of Brand Communicator, observed that big data, artificial intelligence, and immersive technology are changing the media and marketing landscape at an unprecedented rate.
He claimed that MarkHack symbolises a paradigm shift in the way people view marketing and media problems as well as the union of creativity, technology, and innovation.
