NSIA invites applications for its 4th Prize for innovation

By Mariam Abeeb

The Nigeria Sovereign Investment Authority (NSIA) has invited applications from members of the public interested in participating in the fourth edition of its NSIA Prize for Innovation (NPI 4.0).

The fully-funded entrepreneurial training unveiled recently will focus on the theme: ‘Building for Impact’.

The NSIA Prize for Innovation (NPI) is the flagship innovation and entrepreneurship development initiative of the NSIA designed to identify and support high-potential startups through funding, capacity building, mentorship, and strategic partnerships, enabling entrepreneurs to develop scalable solutions to some of the nation’s most critical challenges that contribute to economic growth, job creation, and sustainable development in Nigeria and across Africa.

This was made known by the spokesperson of NSIA, Joyce Onyegbula, said in a statement in Abuja.

“Since inception, the NSIA Prize for Innovation has become one of Nigeria’s leading platforms for entrepreneurship development, innovation and ecosystem support.

“Across its first three editions, the programme has attracted more than 20,000 applications from startups operating within key sectors, including fintech, aggrotech, health tech, edtech, transport and logistics, among others, with participation spanning all six geopolitical zones of the country.

“The success of the programme reflects the growing strength of Nigeria’s entrepreneurial ecosystem and the determination of Nigerian innovators to build solutions that improve lives, create jobs, strengthen industries, and contribute to national development,” she added.

In with NSIA’s commitment to support innovation in sectors critical to economic growth and sustainable development, Onyegbula said NPI 4.0 would focus on startups operating within Manufacturing, Climate and Food Security, and Healthcare.

Through this targeted approach, she said the programme seeks to empower founders whose solutions can strengthen productive capacity, improve health outcomes, enhance food systems, promote environmental sustainability, and advance climate resilient solutions.

She said the programme also revalidates NSIA’s focus on repositioning Nigerian innovators for enhanced relevance.

Building on the success of previous editions, the NSIA spokesperson said NPI 4.0 introduces significant enhancements through strategic partnerships and expanded opportunities for participating startups.

This year’s enhanced edition, she said, would feature a combined prize value of $275,000, comprising $220,000 from NSIA; $45,000 from Cascador, and $10,000 from Wema Bank, to reflect a shared commitment to empowering entrepreneurs and supporting the growth of innovative businesses capable of delivering meaningful impact.

Beyond the prize pool, Onyegbula explained that NPI 4.0 has been designed as a comprehensive growth platform to identify and nurture Nigerian innovators by unlocking access to capital, capacity enhancement, mentorship and strategic networks required to transform innovative solutions to scalable businesses.

“A major highlight of this year’s programme is the opportunity for winners to secure up to $1.5 million in funding through Pula Xcelerator, providing access to the growth capital required to accelerate expansion, strengthen operations, and scale impact,” she disclosed.

In addition, she said winners would stand a chance to participate in the Grand Finale of the Wema Bank Hackaholics, where they can compete for a share of N100 million in equity-free grants, creating further opportunities to access funding, visibility, strategic partnerships, and market exposure.

Besides, she said the winners would also benefit from a fully-funded programme at the Enterprise Development Centre (EDC), Lagos, where they would receive practical training in business strategy, leadership, governance, financial management, market expansion, and investor readiness.

The programme, she noted, is designed to equip founders with the skills and capabilities required to build resilient, investment-ready, and high-growth enterprises.

In his comment, the MD/CEO, NSIA, Aminu Umar-Sadiq, highlighted the unique significance of the fourth edition of the NSIA Prize for Innovation (NPI 4.0).

“Across Nigeria, entrepreneurs are building solutions with the potential to transform industries, improve livelihoods, and address some of our most pressing development challenges.

“Through the NSIA Prize for Innovation, we are creating opportunities for these innovators to access the funding, training, mentorship, and strategic partnerships they need to scale their ideas into sustainable businesses.

“The enhancements introduced in NPI 4.0 reflect our continued commitment to support founders who are leveraging innovation to shape the future of Nigeria’s economy.”

Also, the Executive Director, Cascador, Trish Thomas, noted the crucial role of innovative, tech-driven solutions as a path to social impact in society.

“As part of our commitment to supporting the growth of high-potential Nigerian ventures, we are awarding $45,000 in non-dilutive prize funding through “The Cascador Prize for Impact”, he said.

“Cascador is proud to partner with NSIA again in 2026 to reward ground-breaking ideas that can change communities and lives for the better,” he added.

Reviewing the impact of the programme, Umar-Sadiq said over the past three editions, the NSIA Prize for Innovation has supported promising startups developing solutions to some of Nigeria’s most pressing challenges across multiple sectors, including financial inclusion, technology, agriculture, education and sustainable development.

Through a combination of funding, technical support, mentorship, and access to strategic networks, the MD of NSIA said the programme has helped participating startups strengthen their business models, scale their operations, and enhance their capacity to create economic and social value.

He said the continued growth and evolution of the programme reflect the transformative potential of Nigerian entrepreneurship and underscores the role of the NSIA Prize for Innovation as a platform for identifying and supporting innovative businesses capable of delivering sustainable impact at scale.

Calling on Nigeria’s Next Generation of Innovators to take advantage of the programme, Umar-Sadiq said as the fourth edition opens for applications, ambitious founders or startups operating within the Manufacturing, Climate & Food Security, and Healthcare sectors are invited to seize the opportunity to accelerate their growth journey.

“Entrepreneurs developing innovative technologies, products, and solutions that address critical challenges in these sectors are encouraged to apply and become part of a growing community of innovators shaping the future of Nigeria,” he said.

More than a competition, he said NPI 4.0 is a platform for growth, combining grant funding, world-class entrepreneurial training, mentorship, investor exposure, strategic partnerships, and pathways to additional financing.

“From a combined prize pool of $275,000, potential access of up to $1.5 million through Pula Xcelerator and the opportunity to compete for $100 million in equity-free grants at the Grand Finale of the Wema Bank Hackaholics, NPI 4.0 provides founders the support required to move from promising ventures to market-leading enterprises.