NSIA Price for Innovation 2024 (Up to $220,000)

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NSIA Price for Innovation 2024 (Up to $220,000)

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 socioeconomic development.

Programme Stages:

1) Pre-selection Stage: At this stage, innovators submit their applications through an application portal. Applicants are expected to provide details regarding their digital products/services and business models.

2) Accelerator Stage: Shortlisted innovators will participate in an accelerator programme designed to train, mentor and equip them with the tools required to succeed. Participants at this stage will be judged by an independent panel of expert judges and ten (10) finalists will move on to the final stage (demo day).

3) Final Stage (Demo Day): Each of the ten (10) finalists will be allotted time slot to present their pitch to the judges. The judging panel will review the submission and rank the winners from 1st to 10th.

Application 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

Targeted Sectors:

The programme will focus on technology-enabled businesses in the following sectors:

a. Financial Services

b. Agriculture

c. Health

d. Education

e. Manufacturing

f. Logistics & E-mobility

g. E-commerce & Marketplaces

h. Climate

Prize:

First prize: $100,000