$220,000 for startups, Nigeria Sovereign Investment Authority (NSIA) Prize for Innovation!
NSIA Prize for Innovation (NPI) is sponsored by the Nigeria Sovereign Investment Authority (NSIA) to bolster innovation in Nigeria’s digital ecosystem, and support homegrown solutions that can drive socio-economic development. NPI is designed to encourage and support ingenuity within the digital ecosystem and fund early-stage, growth driven solutions, with the aim of driving transformative economic growth, enhancing the nation’s productive capacity, and creating jobs.
NPI is poised to identify, build, and channel the country’s latent potential in innovation and technology to catalyse economic growth, enhance the nation’s productive capacity, create jobs, and optimise resource sustainability. Through the NSIA Prize for Innovation (NPI), NSIA seeks to promote and support ingenuity in the digital sector, providing funding for innovations that have the potential to deliver cost-effective, scalable, and transformative positive impacts.
Startup in following sectors are encourage to apply
- Financial Services
- Agriculture,
- Health,
- Education,
- Manufacturing,
- Logistics & E-mobility,
- E-commerce & Marketplaces, and
- Climate
Benefits:
- 1st : Equity $75,000 + Cash $25,000 = Total first prize $100,000
- 2nd : Equity $52,000 + Cash $17,500 = Total second prize $70,000
- 3rd : Equity $37,000 + Cash $12,500 = Total third prize $50,000
- 1st to 10th : All-expense-paid training programme in Silicon Valley, USA
Benefits For Finalists –
- Top 10 finalists will participate in an all expense paid, 5-weeks training programme from a top-rated US university in Silicon Valley and also have an opportunity to pitch to angel investors and obtain global exposure!
- Nation-wide recognition and media attention through NSIA.
- Promotion through various social media channels.
- Recognition on the NSIA/NPI website.
- Strategic advertisement in NSIA publications, including the annual report and sustainability reports, with global circulation.
- A 2024 NPI Recognition Plaque as the winner/runner up of the NSIA Prize for Innovation Award.
- The Innovation Award logo for use on your product packaging and advertising materials for a one-year period.
Eligibility
- One founder must be a Nigerian Citizen
- Applicants must be 18 years or older
- Applicants must be running Innovative tech-focused or tech-enabled startups
- The startup should have operated for not less than six months and operating in or within Nigeria
- The startup should be looking to raise a seed round
- The startup should have developed a minimum viable product (MVP)
- Applicants must be willing and able to commit to a 10-week fast-track accelerator programme
- One application permitted per applicant irrespective of the sector. Subsequent applications will be disqualified
- Top 3 winners will have a pre-set valuation for their startups as indicated below
- 1st Place Winner – up to $3m
- 2nd Place Winner – up to $2m
- 3rd Place Winner – up to $1m
- The startups of the top 10 finalists must be registered in Nigeria
