The recently concluded Lagos AI Combinator Hackathon, organised by Ryze Labs, brought smart-minded developers together for a two-day event centred on the Eliza Framework, driving innovation at the intersection of AI and Web3.
With over $5,000 in prizes, the hackathon provided a platform for developers to brainstorm and create unique AI agents while competing for recognition and investment opportunities.
Supported by Web3 Afrika, LetsDap, Superteam Nigeria, and sponsored by Shawmakesmagic, the event was a melting pot for talent and cutting-edge projects built on the Eliza Framework—one of the fastest-growing GitHub projects simplifying AI agent development—who pitched their solutions to judges and investors.
Matthew Graham, CEO of Ryze Labs reiterated the hackathon’s importance within their global vision to connect the best emerging market projects to the world. He noted Nigeria’s tech prospects, referencing its youthful demographics and growing cryptocurrency adoption.
“For many years, I’ve wanted to have a presence in Nigeria. After all, it’s often called the ‘Silicon Valley of Africa,’ with a cryptocurrency penetration rate of over 35%,” he stated.
Noting the meritocratic nature of AI and Web3, Graham added: “There’s an opportunity here for people without unfair advantages to make a real impact. AI agents, particularly with frameworks like Eliza, are the most significant innovation since the rise of DeFi.
“With AI agents being the biggest innovation since GPT, this is a tremendous time of opportunity. Events like this allow us to find and support the best talent from all over the world.”
Paul-Mary Omile, Investment Analyst at Ryze Labs, stressed the company’s vision for tapping into Nigeria’s tech talent: “We are trying to tap into emerging markets, and we believe Nigeria is part of it. We’re organising hackathons to identify the best developers and projects to fund, bringing them into our ecosystem.”
Omile further revealed that Ryze Labs operates a $5 million AI-focused fund under the AI Combinator initiative, aimed at supporting early-stage projects in AI and Web3. He emphasised Nigeria’s potential in the global tech space, noting that hackathons like this help in upscaling local talent.
The hackathon wrapped up with Demo Day, where finalists presented their projects. After commendable pitches, the following winners were announced:
1. First Place: SupplyVest
Simplifying high-volume informal trade with AI, SupplyVest connects SMEs with DeFi tools to grow procurement, sales, and supply chain operations, expanding their global reach.
2. Second Place: ChattaTrader
Simplifying DeFi token trading, ChattaTrader enables users to trade via voice, text, or screenshots, making decentralised finance more accessible.
3. Third Place: Magent
Empowering businesses with AI-powered marketing tools, Magent analyses data, predicts trends, and creates personalised strategies.
The Lagos AI Combinator Hackathon asserted Ryze Labs’ mission to identify and support top-tier talent of AI and Web3 innovators.
With similar Hackathons already done in China and now Nigeria, the next stop is India, as revealed by Paul. Ryze Labs is creating a global platform for ideas, with plans for even greater expansion later on.
The CEO summarised the initiative: “This is a special time for AI and crypto. Today, we’ve seen incredible potential. Across investment, hiring, or advisory support, we’re happy to work with developers impacting the future.”
