The Nigeria Sovereign Investment Authority (NSIA) has launched the fourth edition of its NSIA Prize for Innovation (NPI 4.0), introducing a combined prize pool of $275,000 to support innovative Nigerian startups and strengthen the country’s entrepreneurial ecosystem.
The initiative is designed to provide early-stage businesses with funding, mentorship, executive training and access to investors, while creating pathways for long-term business growth.
Speaking on the launch of the 2026 edition, NSIA Managing Director and Chief Executive Officer, Aminu Umar-Sadiq, said the programme reflects the authority’s continued commitment to helping entrepreneurs transform innovative ideas into scalable businesses capable of contributing to Nigeria’s economic development.
He noted that entrepreneurs across the country are already developing solutions with the potential to solve pressing national challenges and drive growth across key sectors.
“Through the NSIA Prize for Innovation, we are providing innovators with access to funding, mentorship, capacity building and strategic partnerships needed to grow sustainable businesses,” Umar-Sadiq said.
Join the NSIA Prize for Innovation
Prize Pool Backed by Strategic Partners
This year’s competition offers a total prize fund of $275,000, made up of:
- $220,000 contributed by NSIA
- $45,000 from Cascador
- $10,000 provided by Wema Bank
The programme is themed “Building for Impact” and targets startups operating in manufacturing, healthcare, climate innovation and food security.
Beyond financial rewards, participating startups will receive business development support, investor engagement opportunities, entrepreneurial training and mentorship aimed at improving their chances of long-term success.
Winners Eligible for Up to $1.5 Million Expansion Funding
A major addition to this year’s programme is the opportunity for outstanding startups to access up to $1.5 million in growth financing through the Pula Xcelerator, providing successful businesses with additional capital to scale operations.
Selected participants will also qualify for the grand finale of Wema Bank’s Hackaholics innovation programme, where they can compete for ₦100 million in equity-free grants.
In addition, winners will participate in a fully funded executive entrepreneurship programme at the Enterprise Development Centre (EDC), Lagos, where they will receive advanced training in corporate governance, business strategy, financial management, market expansion and investor readiness.
Building on Previous Successes
According to Umar-Sadiq, previous editions of the NSIA Prize for Innovation have supported startups developing solutions across sectors including financial inclusion, agriculture, education, technology and sustainable development.
He said participating companies have benefited from a combination of funding, mentorship and technical support that has enabled them to strengthen their business models, expand operations and increase both economic and social impact.
The NSIA chief encouraged entrepreneurs developing innovative products and technologies in the programme’s priority sectors to apply, describing NPI 4.0 as more than a startup competition.
“It is a comprehensive platform that equips founders with the resources and networks needed to build businesses capable of shaping Nigeria’s future economy,” he said.
Cascador Commits Additional Funding
Executive Director of Cascador, Trish Thomas, said the organisation is contributing $45,000 in non-dilutive funding through the Cascador Prize for Impact to support ventures delivering measurable social impact.
She expressed confidence that the partnership with NSIA would continue to recognise and empower entrepreneurs developing transformative solutions capable of improving communities across Nigeria.
Applications for the 2026 edition of the NSIA Prize for Innovation are now open to eligible Nigerian startups operating within the programme’s focus sectors.
