The NSIA Prize for Innovation (NPI) is sponsored by the Nigeria Sovereign Investment Authority (NSIA) to encourage and support innovation within Nigeria’s digital ecosystem. The prize is designed to fund early-stage, growth-driven solutions that can contribute to transformative economic growth, enhance the nation’s productive capacity, and create jobs. As an applicant, you get a chance to win up to $220,000 in prizes and an all-expense paid training program in Silicon Valley, USA

Application Requirements                                 

• One of the founders must be a Nigerian citizen.
• Applicants must be 18 years or older.
• Running innovative tech-focused or tech-enabled startups.
• The startup should have operated for at least six months within Nigeria.
• Looking to raise a seed round.
• Must have developed a minimum viable product (MVP).
• Willing and able to commit to a 10-week fast-track accelerator program.
• Only one application is permitted per applicant irrespective of the sector.

Prizes

The top 3 winners will have a pre-set valuation for their startups:

• 1st Place Winner: Up to $3 million
• 2nd Place Winner: Up to $2 million
• 3rd Place Winner: Up to $1 million

Target Sectors

The program will focus on technology-enabled startups in the following sectors:

• Financial Services
• Agriculture
• Health
• Education
• Manufacturing
• Logistics & E-mobility
• E-commerce & Marketplaces
• Climate

Note: While these sectors are termed “priority,” startups outside these sectors are still encouraged to apply.

Application Deadline: March 3rd, 2024

Benefits

• Top 10 finalists will participate in an all-expense-paid 5-week training program at a top-rated US university in Silicon Valley.
• Opportunity to pitch to angel investors and obtain global exposure.
• Nationwide recognition and media attention through NSIA.
• Promotion through various social media channels.
• Recognition on the NSIA/NPI website.
• Strategic advertisement in NSIA publications.
• 2024 NPI Recognition Plaque.
• The Innovation Award logo for use on product packaging and advertising materials for a one-year period.

This is an exciting opportunity for Nigerian tech startups to receive funding, training, and exposure. If you meet the criteria, don’t miss the chance to apply for the NSIA Prize for Innovation. Visit the Official Webpage of the NSIA Prize for Innovation for more details.