The Nigeria Sovereign Investment Authority (NSIA) has unveiled the start-ups selected to participate in the Accelerator Stage (physical bootcamp) of the NSIA Prize for Innovation. This marks a significant phase in the competition aimed at fostering innovation and entrepreneurship in Nigeria.
Key Highlights
Selection Process:
– Out of over 7,000 early-stage businesses that registered, 100 start-ups were chosen following a rigorous evaluation and due diligence process.
– These selected start-ups represent multiple sectors and were shortlisted for the physical bootcamp after a comprehensive screening exercise.
Shortlisted Start-Ups:
– Some of the start-ups selected include:
– Magic Carpet
– Materials Pro
– Jump n Pass
– Awacash
– VPay
– Betalife
– Centio Healthcare
– Yalo
– Pocket Lawyers
– Doktorconnect
– Trashcoin
– One Health
– Redease
– VPD
– Kunda Kids
– Agroxchange Technology
– Sycamore
– Passcoder
– Earlybean
– Powerfull
– Adashe
– Cash Africa
– TownHall
– Sakula
– Pave
– Tribapay
Bootcamp Details:
– The physical bootcamp will feature interactive training sessions, networking opportunities with fellow innovators, and tailored workshops.
– The week-long bootcamp will culminate in a mini demo day where start-ups will pitch their solutions to a panel of judges from the technology and business sectors.
– Successful participants will move on to the Demo Day and compete for a total combined prize value of $220,000. Winners will also receive an all-expense paid five-week training at Draper University, Silicon Valley, USA.
Comments from NSIA CEO:
– Aminu Umar-Sadiq, Managing Director & CEO of NSIA, emphasized the Authority’s focus on leveraging the NSIA Prize for Innovation to propel socio-economic development, catalyse the technology ecosystem, and promote youth entrepreneurship in Nigeria.
About NSIA Prize for Innovation:
The NSIA Prize for Innovation (NPI) is a multi-year commitment by the NSIA to identify and nurture early-stage businesses with the potential for transformative impact in Nigeria. Now in its second edition, NPI has seen a significant increase in high-quality applications, growing from 2,000 in its maiden edition to over 7,000 in 2024.
NPI is structured in phases:
– Pre-selection Stage: Innovators submit their applications through the application portal.
– Accelerator Stage: Top finalists participate in virtual and in-person training bootcamps.
– Demo Day: Top ten finalists pitch their solutions to a panel of technology and business leaders.
– Post Demo Day Stage: Top ten finalists attend an all-expense paid training programme at Draper University, Silicon Valley, USA.
This initiative aligns with the NSIA’s ongoing efforts to catalyse the technology ecosystem by identifying and rewarding Nigerian innovators, equipping them with the tools to scale their solutions, connecting start-ups with investors, and building a robust community of technology innovators and entrepreneurs.
