Can your startup create ground-breaking, tech-enabled solutions in your industry? If the answer is yes, submit your application to NSIA Prize for Innovation (NPI 2.0). Up to US$220,000 to be won in prizes and an all expense paid training programme in Silicon Valley, USA.

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. 

The programme is a multi-year commitment by the NSIA to empower budding Nigerian innovators, in a bid to catalyse the rise of the digital economy. The Programme will adopt a four-staged competition at the end of which ten (10) finalists will emerge and win varied prizes.

NSIA Prize for Innovation Programme Stages

Pre-selection Stage: Innovators submit their applications through the application portal to provide details regarding their digital products/services and business models.

Accelerator Stage: The top 100 finalists will participate in a one-month virtual training, followed by an in-person bootcamp for the top 25 finalists. A mini demo day will be held to select the top 10 finalists that will proceed to the demo day.

Demo Day: Each of the 10 finalists will be allotted timeslot to present their pitch to the judges. The judging panel will review the submission and rank the winners from 1st to 10th. The event will be attended by a combination of local and foreign technology industry experts and investors.

Post Demo Day: The top 10 finalists will participate in an all expense paid, 5-weeks in-person training programme at a top-rated US university in Silicon Valley and also have an opportunity to pitch to angel investors to secure additional funding and obtain global exposure!

BONUS: Exclusive chance to secure additional investment and global exposure by pitching to angel investors!

Application Requirements

1. One of the founders must be a Nigerian Citizen

2. Applicants must be 18 years or older

3. Applicants must be running Innovative tech-focused or tech-enabled startups

4. The startup should have operated for not less than six months and operating in or within Nigeria

5. The startup should be looking to raise a seed round

6. The startup should have developed a minimum viable product (MVP)

7. Applicants must be willing and able to commit to a 10-week fast-track accelerator programme

8. Only one application is permitted per applicant irrespective of the sector. Subsequent applications will be disqualified.

NSIA Prize for Innovation 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

For more information, click here.

Apply here on or before March 3, 2024.