The Nigeria Sovereign Investment Authority (NSIA) has announced the establishment of an innovation prize for entrepreneurs, innovators, and technopreneurs.
The programme is expected to catalyze the growth and development of the Nigerian technology ecosystem by identifying budding technopreneurs, enhancing their capabilities, and providing a platform to showcase and scale their digital solutions on a global scale.
The NSIA Award for Innovation program prize of $255,000 would be offered to the winners as a blend of cash and equity investment. The reward is intended to incentivize businesses to create solutions that address real-world difficulties with worldwide applications.
The initiative will have three phases: a call for applications, an acceleration boot camp stage, and a demo stage.
At the end of the call for applications phase, all entries will be examined, and only 25 solutions will be shortlisted for the accelerator boot camp, where each participant’s concept will be amplified for market readiness.
The priority sectors for the Programme are: Financial Services, Agriculture, Health, Education, Manufacturing, Logistics & E-mobility, E-commerce & Marketplaces, and Climate. However, applicants that operate outside these sectors are strongly encouraged to apply.
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 businesses/startups
- The business should have operated for not less than six months and operating in or with a presence in Nigeria
- The business should be looking to raise a seed round
- The business should have developed a minimum viable product (MVP)
- Applicants must be willing and able to commit to a 4-week fast-track accelerator program
- Only one application is permitted per applicant irrespective of the sector. Subsequent applications will be disqualified
Application Timeline
Application closes on Saturday, April 8, 2023, by 12 noon.
How To Apply
To get more details about the Programme Visit: https://nsia-ip.com/
To Apply for the Programme Click Here
