The Nigeria Sovereign Investment Authority (NSIA) and its partners have awarded $280,000 to 6 Nigerian startups through the third edition of its NSIA Prize for Innovation.
The winners were announced on Saturday during the final Demo Day, attended by Naijaonpoint, where 10 selected startups pitched their innovations out of over 5,000 initial applicants.
The top three innovators were awarded an NSIA prize of $220,000 in cash and equity to accelerate their businesses.
This year’s edition also featured two additional special prizes: the $45,000 Cascador Impact Prize and the $15,000 PVAC Healthcare Innovation Prize, further expanding NSIA’s support for innovative, high-impact solutions driving Nigeria’s development.
The Demo Day brought together innovators from all backgrounds and industries to enhance networking opportunities that foster creativity, innovation, and entrepreneurship.
The NSIA is a Nigerian government investment institution established by the Nigeria Sovereign Wealth Act (2011) to manage and invest in a diversified portfolio of medium and long-term funds.
The NSIA Prize for Innovation is the authority’s multi-year commitment to identify and nurture early-stage innovative businesses within the tech ecosystem, to create a sustainable positive impact.
Its mission is to drive sustained economic development for the benefit of all Nigerians by building a savings base, enhancing Nigeria’s infrastructure development, and providing stabilization support in times of economic stress.
The NSIA operates three distinct funds: the Stabilization Fund, the Future Generations Fund, and the Nigeria Infrastructure Fund