The Nigeria Sovereign Investment Authority (NSIA) has opened applications for the fourth edition of its flagship NSIA Prize for Innovation (NPI 4.0), with a focus on startups developing solutions in manufacturing, healthcare, and climate and food security.
The fully funded entrepreneurship programme, themed “Building for Impact,” is designed to identify and support high-potential startups through grant funding, capacity building, mentorship and strategic partnerships to help scale innovative solutions that address Nigeria’s development challenges.
Announcing the programme in a statement issued in Abuja, NSIA spokesperson, Joyce Onyegbula, said the initiative has evolved into one of Nigeria’s leading platforms for entrepreneurship development and innovation support.
She said the first three editions attracted more than 20,000 applications from startups across all six geopolitical zones, spanning sectors such as fintech, agritech, health technology, education technology, transport and logistics.
According to her, the strong response underscores the resilience of Nigeria’s entrepreneurial ecosystem and the determination of innovators to develop solutions that create jobs, strengthen industries and contribute to sustainable development.
Onyegbula said the fourth edition would prioritise startups operating in manufacturing, climate and food security, and healthcare, in line with NSIA’s commitment to promoting innovation in sectors critical to economic growth and national development.
She explained that this year’s edition offers a combined prize pool of $275,000, comprising $220,000 from NSIA, $45,000 from Cascador and $10,000 from Wema Bank.
Beyond the grants, she said participants would benefit from mentorship, business development support and strategic partnerships aimed at transforming promising ideas into scalable enterprises.
According to Onyegbula, a major highlight of NPI 4.0 is the opportunity for winners to access up to $1.5m in funding through Pula Xcelerator to support business expansion and operational growth.
She added that winners would also have the opportunity to compete at the grand finale of Wema Bank’s Hackaholics programme for a share of N100m in equity-free grants.
In addition, successful startups will participate in a fully funded programme at the Enterprise Development Centre (EDC), Lagos, where they will receive training in business strategy, leadership, governance, financial management, market expansion and investor readiness.
Commenting on the initiative, the Managing Director and Chief Executive Officer of NSIA, Aminu Umar-Sadiq, said the programme reflects the Authority’s commitment to supporting entrepreneurs with innovative solutions capable of transforming industries and addressing key development challenges.
He said the enhancements introduced in the fourth edition would provide founders with greater access to funding, entrepreneurial training, mentorship and strategic partnerships required to build sustainable businesses.
Also speaking, Executive Director of Cascador, Trish Thomas, said the organisation remained committed to supporting high-potential Nigerian ventures by providing $45,000 in non-dilutive prize funding through the Cascador Prize for Impact.
She described the partnership with NSIA as an opportunity to reward innovative ideas capable of creating meaningful social impact across communities.
Umar-Sadiq noted that over the past three editions, the NSIA Prize for Innovation has supported startups tackling challenges in financial inclusion, agriculture, education, technology and sustainable development through funding, technical assistance and access to strategic networks.
He urged ambitious founders and startups operating in the priority sectors to apply, describing NPI 4.0 as more than a competition but a comprehensive growth platform offering funding, mentorship, investor exposure and pathways to additional financing for innovative businesses.
(The Whistler)