The Nigeria Sovereign Investment Authority (NSIA) is delighted to introduce the NSIA Prize for Innovation (NPI) 2024, a prestigious initiative designed to cultivate Nigeria’s digital ecosystem and promote indigenous solutions with the capacity to propel socio-economic development. This forward-thinking program aims to support early-stage, growth-oriented ventures by providing significant financial assistance, an all-expenses-paid training program in Silicon Valley, USA, and a platform to showcase groundbreaking ideas. These ideas have the potential to contribute to Nigeria’s transformative economic growth, improve productive capacity, and create employment opportunities.
| Prize Pool 💰 | Up to US$220,000 |
| Training 🎓 | 5-weeks in Silicon Valley |
| Eligibility 📋 | Nigerian Founders, 18+, Tech-focused Startups, MVP Required |
| Sectors 🌐 | FinTech, AgriTech, HealthTech, EdTech, Manufacturing, Logistics, E-commerce, Climate |
| Benefits 🌟 | Silicon Valley Training, Nationwide Recognition, Strategic Advertisement |
| Application Deadline 🗓 | 3rd March 2024 |
| Prizes for Winners 🏆 | 1st: up to $3m, 2nd: up to $2m, 3rd: up to $1m |
Application Eligibility
Who Can Apply?
- Entrepreneurs with Nigerian citizenship among the founding team.
- Individuals aged 18 and above.
- Startups focusing on tech-centric or tech-enabled innovations.
- Enterprises operational for a minimum of six months within Nigeria, aiming to secure seed funding.
- Ventures that have developed a minimum viable product (MVP).
- Applicants committed to participating in a 10-week fast-track accelerator programme.
- Only one application is permitted per applicant across any sector.
Prizes at Stake
Monetary Rewards for Top Innovators
- 1st Place: Valuation up to $3 million.
- 2nd Place: Valuation up to $2 million.
- 3rd Place: Valuation up to $1 million.
Focus Sectors
The NPI 2024 zeroes in on technology-enabled startups across various critical sectors, including:
- Financial Services
- Agriculture
- Health
- Education
- Manufacturing
- Logistics & E-mobility
- E-commerce & Marketplaces
- Climate
While these sectors are prioritized due to their potential impact on Nigeria’s economy, startups from other sectors are also encouraged to apply.
Exclusive Benefits for Finalists
Silicon Valley Training and More
- The top 10 finalists will embark on a 5-week, all-expense-paid training programme at a leading US university in Silicon Valley, offering an unparalleled opportunity to pitch to angel investors and gain international exposure.
- Nationwide recognition and media spotlight through NSIA channels.
- Promotional support across various social media platforms and inclusion on the NSIA/NPI website.
- Strategic visibility in NSIA publications, reaching a global audience.
- A 2024 NPI Recognition Plaque and the right to use the Innovation Award logo on product packaging and advertising materials for a year.
How to Apply
Take the Leap
Embark on this journey of innovation by visiting the Official Webpage of the NSIA Prize for Innovation to submit your application.
Deadline
Save the date – the application deadline is March 3rd, 2024. Don’t let this extraordinary opportunity slip away to elevate your startup, contribute to Nigeria’s economic development, and attain global recognition. Apply now to become a beacon of innovation in Nigeria and beyond.
FAQs Regarding NSIA Prize for Innovation
Who is eligible for the NSIA Prize for Innovation 2023?
Nigerian citizens, 18 years or older, running innovative tech-focused or tech-enabled businesses/startups operating in Nigeria for at least six months, seeking to raise seed round, and with a minimum viable product (MVP) are eligible.
What sectors are targeted by the NSIA Prize for Innovation 2023?
The program focuses on tech-enabled businesses in financial services, agriculture, health, education, manufacturing, logistics & e-mobility, e-commerce & marketplaces, and climate.
What are the prizes for the NSIA Prize for Innovation 2023?
The 10 finalists will receive up to $255,000 in cash and equity, with 3 winners and 7 runner-ups emerging after the bootcamp.
What is the deadline for the NSIA Prize for Innovation 2023 application?
The deadline for the application is April 8, 2023.
How can I apply for the NSIA Prize for Innovation 2023?
To apply, visit the NSIA Prize website and follow the application instructions provided.