How To Apply For NSIA Prize for Innovation NPI 2023 (Upto $250k Prize)

How To Apply For NSIA Prize for Innovation NPI 2023 (Upto $250k Prize)

NSIA Prize for Innovation (NPI) is sponsored by the Nigeria Sovereign Investment Authority (NSIA) to bolster innovation in Nigeria’s digital ecosystem, and support homegrown solutions that can drive socio-economic development.

NPI is designed to encourage and support ingenuity within the digital ecosystem and fund early-stage, growth-driven solutions, with the aim of driving transformative economic growth, enhancing the nation’s productive capacity, and creating jobs.

Objectives Of NPI Programme

1. To recognize and reward Nigerian innovators and start-up founders in the tech ecosystem.
2. To act as an early-stage investment catalyst for innovators.
3. To mentor and equip founders with the tools required for scaling and product-market fit.
4. To connect startup founders to potential investors.
5. To create a community of connected individuals to ensure partnership across the ecosystem.

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Programme Stages

1) Pre-selection Stage: At this stage, innovators submit their applications through an application portal. Applicants are expected to provide details regarding their digital products/services and business models.

2) Accelerator Stage: Shortlisted innovators will participate in an accelerator programme designed to train, mentor and equip them with the tools required to succeed. Participants at this stage will be judged by an independent panel of expert judges and ten (10) finalists will move on to the final stage (demo day).

3) Final Stage (Demo Day): Each of the ten (10) finalists will be allotted a time slot to present their pitch to the judges. The judging panel will review the submission and rank the winners from 1st to 10th.

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

Targeted Sectors

The programme will focus on technology-enabled businesses in the following sectors:

1. Financial Services
2. Agriculture
3. Health
4. Education
5. Manufacturing
6. Logistics & E-mobility
7. E-commerce & Marketplaces
8. Climate

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Prize

First prize: $100,000

Second prize: $70,000

Third prize: $50,000

4TH to 10TH: $5,000 each

How To Apply For NSIA Prize for Innovation NPI 2023

Interested and qualified applicants should kindly apply via https://nsia-ip.com