The Nigeria Sovereign Investment Authority (NSIA) has announced the names of the start-ups selected to participate in the physical bootcamp stage of the NSIA Prize for Innovation (NPI 2.0).
Over 7,000 Applications Received
Following a rigorous selection process from over 7,000 applications, 100 early-stage businesses were initially chosen to enter the two-part accelerator phase. After further evaluation, a shortlist comprising businesses from various sectors has been selected for the physical bootcamp.
Shortlisted Start-Ups
The shortlisted start-ups 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, and Tribapay.
Bootcamp to Offer Training and Networking
During the bootcamp, participants will benefit from interactive training sessions, workshops tailored to their needs, and networking opportunities with other innovators. The week-long programme will culminate in a mini demo day where the start-ups will pitch their solutions to a panel of judges.
Competition Offers $220,000 Prize Package
Top performers at the mini demo day will progress to the Demo Day with a chance to win a share of a US$220,000 prize package. Winners will also receive an all-expense-paid five-week training programme at Draper University in Silicon Valley, USA.
NSIA Committed to Supporting Innovation
Commenting on the announcement, NSIA Managing Director & Chief Executive Officer, Aminu Umar-Sadiq, emphasised the Authority’s dedication to leveraging the NPI to propel socio-economic development.
According to him, the programme aims to catalyse the tech ecosystem, encourage youth entrepreneurship, and advance solutions for everyday challenges, ultimately positioning Nigerian tech talent for global recognition.
“The Authority remains focused on leveraging the NSIA Prize for Innovation to propel socio-economic development, especially by catalysing the technology ecosystem, encouraging youth entrepreneurship, advancing innovative solutions to everyday challenges, and positioning Nigerian tech talents for global relevance,” he stated.
NPI: A Multi-Year Commitment
The NPI represents the Authority’s multi-year commitment to identifying and nurturing promising early-stage businesses with the potential to make a transformative impact in Nigeria.
The programme’s second edition has garnered significant interest, with applications surging from 2,000 in the first year to over 7,000 in 2024.
The NPI aligns with the NSIA’s goal of stimulating the technology sector by recognising and supporting Nigerian innovators, providing them with essential tools to achieve product-market fit, connecting start-ups with potential investors, and building a robust community of tech entrepreneurs.
NPI Stages
The NPI competition is divided into several stages:
- Pre-selection: Innovators submit applications through an online portal.
- Accelerator: Top finalists participate in a virtual and in-person bootcamp.
- Demo Day: Top ten finalists pitch their solutions to a panel of judges.
- Post Demo Day: Top ten finalists participate in a training programme at Draper University.
