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
Method of Application
Click Here to Apply
For More Information,
Application Deadline: March 3, 2024.
