NSIA Prize for Innovation 2024 for Nigerian Entrepreneurs

Ikenna Nwachukwu

3 months ago

The Nigeria Sovereign Investment Authority (NSIA) is sponsoring the NSIA Prize for Innovation, a program designed to recognize, support, and reward homegrown entrepreneurial talent in the country’s digital ecosystem. Through this initiative, the NSIA will fund early-stage, growth-driven solutions that can positively transform the Nigerian economy, increase its productive capacity, and create jobs.

Read more about Opportunities

Founders and startups selected as part of this program will receive the tools they need to scale and achieve product-market fit. They will also get to access partnership opportunities and stand a good chance of receiving additional funding from investors.

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Benefits

This program offers the following benefits to startups:

10 finalists will receive various prizes
The top 3 will receive funds in a mix 75:25 mix of equity and cash in exchange for a stake in their company
The top 10 finalists will take part in an all-expenses-paid trip to a 5-week training at a top university in Silicon Valley, where they will also get a chance to pitch to angel investors and achieve global exposure
Be mentored and equipped with the tools they need to scale
Connected to a community of forward-thinking founders and innovative startups

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Eligibility

The NSIA Prize for Innovation is open to startups that meet these criteria:

At least one of the founders must be a Nigerian citizen
Applicants should be at least 18 years old
They should be running innovative tech-enabled or tech-focused startups
Must have been in operation for not less than 6 months, and have a presence in Nigeria
Should be looking to raise seed fund
Must have developed a Minimum Viable Product (MVP)

Applications will remain open until March 3, 2024. If you would like to apply for this opportunity, you can do so HERE.

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