Do you have a Start-up with groundbreaking tech-enabled solutions? If so, the NSIA Prize Innovation (NPI) 2023 is your opportunity to win up to US$255,000.
The call application, for the 2023 edition of NSIA Prize Innovation (NPI) is now open, submit your application now to stand a chance of receiving financial support for your innovation to realize its full potential, and be a contributor to the nation’s economic success.
The program is being sponsored by the Nigeria Sovereign Investment Authority (NSIA) with the aim of enhancing innovations in Nigeria’s digital ecosystem. It also provides support to solutions geared towards socio-economic development.
The Sovereign Investment Authority (NSIA), through the NPI Program, seeks to encourage and support ingenuity within the digital ecosystem and provides funds to early-stage, growth-driven solutions, with the aim of driving transformative economic growth, Nigeria’s productive capacity, and jobs-creation.
Details About NSIA Prize for Innovation (NPI) 2023
- Category: Entrepreneurs
- Host Organization: Nigeria Sovereign Investment Authority (NSIA)
- Country: Nigeria
- Value: US$255,000.
- Gender: Men and Women
- Application status: Open
- Application Deadline: Not Specified
Aim and Benefits of NSIA Prize for Innovation (NPI) 2023
- The NPI is designed to recognize and reward Nigerian innovators and start-up founders in the tech ecosystem.
- The program serves as an early-stage investment catalyst for innovators.
- To provide Mentorship opportunities and help to equip founders with the tools required for scaling and product-market fit.
- Startup founders will be connected to potential investors.
- The Program was also built to establish a community of connected individuals thereby creating partnerships across the ecosystem.
- The first prize is $100,000
- The Second Prize is $70,000
- The third prize: $50,000 and
- The fourth to the tenth prize is $5,000 each
About Nigeria Sovereign Investment Authority (NSIA)
NSIA, the acronym for the Nigeria Sovereign Investment Authority, is an independent investment Institution with the responsibility of managing the Nigerian sovereign wealth fund (where the surplus income produced from Nigeria’s excess oil reserves is deposited).
Meanwhile, the establishment of the Nigerian sovereign wealth fund is to manage and invest funds for the Nigerian government.
The Nigeria Sovereign Investment Authority (NSIA) was founded in 2011 and its headquarters is located in Abuja.
How to Apply for NSIA Prize Innovation (NPI) 2023
- To apply for the NSIA Prize Innovation 2023, Qualified Candidates should click the NSIA official webpage at: https://nsia-ip.com/
Three stages are involved;
- Pre-selection Stage where innovators will submit their applications via the application portal.
- The Accelerator Stage is where Shortlisted innovators will participate in an accelerator programme to be trained, mentored and equipped with the tools required to succeed. About 10 Finalists will be selected by an independent panel of expert judges for the final stage.
- Final Stage: At this stage, each of the ten (10) finalists will be given an opportunity to present their pitch to the judges for review after which the winners will be ranked from 1st to 10th.
Eligibility Criteria for NSIA Prize for Innovation (NPI) 2023
- To be eligible, one of the founders must be a Nigerian Citizen
- All Applicants must be 18 years or above to be considered for NPI
- Ideal Candidates must be running Innovative tech-focused or tech-enabled businesses/startups
- The business is expected to have been in operation for not less than six months in Nigeria
- Participating businesses should be looking to raise a seed round and must have developed a minimum viable product (MVP)
- Candidates must be willing and able to commit to a 4-week fast-track accelerator program
- Please note that only one application is permitted per applicant regardless of the sector.
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