NSIA 2024 Prize for Innovation for Nigerian Entrepreneurs.

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.

Benefits

Aim:

To recognize and reward Nigerian innovators and start-up founders in the tech ecosystem.
To act as an early-stage investment catalyst for innovators.
To mentor and equip founders with the tools required for scaling and product-market fit.
To connect startup founders to potential investors.
To create a community of connected individuals to ensure partnership across the ecosystem.

Prizes

Ten (10) finalists will win varying prizes. The top three (3) winners will receive a mix of cash and equity to support their startups. They will receive funds in 75:25 equity and cash mix in exchange for a stake in their company which will be determined after a valuation.
The top ten (10) finalists will participate in an all-expense paid, 5-weeks training program at a top-rated US university in Silicon Valley and also have an opportunity to pitch to angel investors and obtain global exposure.

Requirements

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 businesses/startups
The business should have operated for not less than six months and operating in or with a presence in Nigeria
The business should be looking to raise a seed round
The business should have developed a minimum viable product (MVP)
Applicants must be willing and able to commit to a 4-week fast-track accelerator program
Only one application is permitted per applicant irrespective of the sector. Subsequent applications will be disqualified