Win up to US$220,000 in prizes and an all-expenses-paid training session in Silicon Valley, USA.
The Nigeria Sovereign Investment Authority (NSIA) sponsors the NSIA Prize for Innovation (NPI) to encourage innovation in Nigeria’s digital ecosystem and promote domestic solutions for socioeconomic development. NPI is intended to foster and support inventiveness within the digital ecosystem while also funding early-stage, growth-driven solutions with the goal of generating transformational economic growth, increasing the nation’s productive capacity, and creating employment.
Benefits:
- 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 of the founders 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
- Only one application is permitted per applicant irrespective of the sector. Subsequent applications will be disqualified
Prizes:
The 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
Target Sectors:
The programme will focus on technology-enabled startups in the following sectors:
- Financial Services
- Agriculture
- Health
- Education
- Manufacturing
- Logistics & E-mobility
- E-commerce & Marketplaces
- Climate
Note: These priority sectors were selected based on the impact innovation in these sectors can have on the Nigerian economy. Whilst the above sectors are termed “priority”, applicants that have startups outside these priority sectors are still encouraged to apply.
