The NSIA Prize for Innovation (NPI), funded by the Nigeria Sovereign Investment Authority (NSIA), is now accepting applications. The award recognizes and celebrates Nigerians who have developed innovative solutions to address some of Nigeria’s most pressing challenges.
Launched on the 10th of December 2022, the Authority launched the NSIA Prize for Innovation (NPI) programme with a total prize value of $255,000 to be awarded as a combination of cash and equity investment to the top winners of the innovation prize.
To be eligible to participate in the NPI, applicants must be Nigerian, must have a minimum viable product, must have operated their business for over six months, and they are targeting these industries:
Financial Services, Agriculture, Health, Education, Manufacturing, Logistics & E-mobility, E-commerce & Marketplaces, and Climate. Winners will receive a combination of equity and cash prices to build their businesses further.
The winning prizes include 1st cash prize of $ 100,000 ($75,000 equity, $25,000 cash), 2nd prize of $ 70,000 ($ 52,500 equity, $ 17,500 cash), 3rd prize $ 50,000 ($ 37,500 equity, $12,500 cash) while the 4 to the 10th get $5,000 cash. click here for more information
The call for applications is open from March 8th, 2023, and will close at noon on April 8th, 2023. Applicants can apply online through the NSIA Prize for Innovation website CLICK HERE TO APPY.
The NSIA Prize for Innovation aims to encourage and support innovation in Nigeria, and to promote Nigerian talent and ingenuity. It is an opportunity for Nigerians to showcase their innovative solutions and to receive recognition for their contributions to society.