NSIA Launches $275,000 Prize for Innovation in Nigeria

The Nigeria Sovereign Investment Authority (NSIA) has announced the launch of the 4th edition of the NSIA Prize for Innovation (NPI 4.0), inviting applications for a total prize pool of $275,000. This initiative aims to support high-potential startups operating in sectors such as manufacturing, climate, food security, and healthcare.

NSIA spokesperson Joyc Onyegbula stated that the program seeks to empower founders whose solutions enhance product capacity and improve health outcomes. The prize comprises $220,000 from NSIA, $45,000 from Cascador, and $10,000 from Wema Bank.

Winners will also have the opportunity to secure additional funding and participate in various growth programs. The NPI 4.0 aims to identify and nurture Nigerian innovators, providing access to capital and mentorship necessary for scaling their businesses.

The program reflects NSIA's commitment to strengthening Nigeria's entrepreneurial ecosystem and contributing to economic growth and job creation.