NSIA Prize for Innovation (NPI) 3.0 (Up to US$220,000 Funding, Mentorship, and Fully Funded Training Program in Silicon Valley, USA.)

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Applications are open for NSIA Prize for Innovation (NPI) 3.0. Does your startup have the potential to drive innovation and deliver impactful solutions in healthcare, education, or agriculture? If so, apply for the NPI 3.0 for a chance to win a share of US$220,000, the Cascador Prize for impact valued at US$45,000, and a five-week all-expenses-paid training program in Silicon Valley, USA.

The NSIA Prize for Innovation (NPI), an initiative of the Nigeria Sovereign Investment Authority (NSIA), is designed to empower entrepreneurs and changemakers whose innovative ideas can drive meaningful social and economic impact.

Designed to nurture ingenuity and accelerate high-potential ventures, NPI provides funding and strategic support to early-stage, growth-driven solutions. Through this initiative, NSIA aims to inspire groundbreaking ideas that enhance productivity, strengthen industries, and deliver lasting social impact in Nigeria and beyond.

For NPI 3.0, NSIA is proud to partner with the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) as a strategic partner. PVAC’s objective is to reshape Nigeria’s healthcare ecosystem by fostering socially impactful innovations.

Programme Stages

Pre-selection Stage: Innovators submit their applications through the application portal to provide details regarding their Innovative products/services and business models.
Accelerator Stage: The top 150 finalists will participate in a virtual training, followed by an in-person bootcamp for the top 25 finalists. A mini demo day will be held to select the top 10 finalists that will proceed to the demo day.
Demo Day: Each of the 10 finalists will be allotted a timeslot to present their pitch to the judges. The judging panel will review the submission and rank the winners from 1st to 10th. The event will be attended by a combination of local and foreign industry experts and investors.
Post Demo Day: The top 10 finalists will participate in an all expense paid, 5-weeks in-person training programme at a top-rated US university in Silicon Valley and also have an opportunity to pitch to angel investors to secure additional funding and obtain global exposure!

NSIA Prize for Innovation (NPI) 3.0 Benefits

Here is your chance to win a combined prize value of up to $220k, a Cascador Impact Prize valued at $45k, and a five-week, all-expense-paid training at Silicon Valley, USA.

Eligibility Criteria

One of the founders must be a Nigerian Citizen

2) Applicants must be 18 years or older

3) Applicants must be running innovative and social impact-driven startups

4) The startup should have operated for not less than six months and operating in or within Nigeria

5) The startup should be looking to raise a seed round

6) The startup should have developed a minimum viable product (MVP)

7) Applicants must be willing and able to commit to a 10-week fast-track accelerator programme

8) Only one application is permitted per applicant irrespective of the sector. Subsequent applications will be disqualified

9) The startups of the top 10 finalists must be registered in Nigeria

10) Target Sectors: The programme will focus on innovative startups in the following sectors:

Healthcare
Agriculture
Education

Evaluation Criteria for NSIA Prize for Innovation (NPI) 3.0

Entries will be judged by a committee of five (5), which will include industry experts and an NSIA representative. The submission and review process will be audited by an independent auditor. The evaluation will be done based on the following criteria.

The Novelty of Approach

What is unique, unprecedented, or progressive about your innovation?

Impact

How does this innovation solve real world challenges – not just for Nigerians, but communities across the world, and what sectors are covered by the solution? (Qualities may include: revenue enhancement, cost reduction, time to payback, operational enhancement, membership and growth retention, digital engagement, and security enhancements. Metrics are advantageous).

Product Design

Engineering, functionality, aesthetics, and general design.

Scalability

Prospects of growth, expansion, and product-market fit, ability to attract capital, ability to attract talent, ability to create/attract market share.

Proposed Methodology, Approach, and Implementation Plan

Proposes an innovative approach.
Understands the problem being addressed.
Proposes a solution that is cutting edge.
Will advance new solutions to the selected sector.

Sustainability, Environmental Impact And Risk Plan

Sustainability Plan: Ability to show startup continuity beyond winning the prize; Ability to show how the prize to be won will be used as seed money to grow the startup.
Strategy: The innovation goals/objectives are clear; Clear connection of issues to the proposed methods; Proposed implementation plan is SMART – Specific. Measurable. Achievable. Realistic Timeframe.