Application Deadline: 23rd March 2024.
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.
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 startups
- The startup should have operated for not less than six months and operating in or within Nigeria
- The startup should be looking to raise a seed round
- The startup should have developed a minimum viable product (MVP)
- Applicants must be willing and able to commit to a 10-week fast-track accelerator programme
- Only one application is permitted per applicant irrespective of the sector. Subsequent applications will be disqualified
Prizes
The top 3 winners will have a pre-set valuation for their startups as indicated below
- 1st Place Winner – up to $3m
- 2nd Place Winner – up to $2m
- 3rd Place Winner – up to $1m
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
Note: These priority sectors were selected based on the impact innovation in these sectors can have on the Nigerian economy. Whilst the above sectors are termed “priority”, applicants that have startups outside these priority sectors are still encouraged to apply.
Benefits
- Top 10 finalists will participate in an all expense paid, 5-weeks training programme from a top-rated US university in Silicon Valley and also have an opportunity to pitch to angel investors and obtain global exposure!
- Nation-wide recognition and media attention through NSIA.
- Promotion through various social media channels.
- Recognition on the NSIA/NPI website.
- Strategic advertisement in NSIA publications, including the annual report and sustainability reports, with global circulation.
- A 2024 NPI Recognition Plaque as the winner/runner up of the NSIA Prize for Innovation Award.
- The Innovation Award logo for use on your product packaging and advertising materials for a one-year period.
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