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From Adanna Nnamani, Abuja
The Nigeria Sovereign Investment Authority (NSIA) has invited applications for the fourth edition of its NSIA Prize for Innovation (NPI 4.0), offering startups access to a combined grant pool of $275,000 alongside entrepreneurial training, mentorship and opportunities to secure additional investment funding.
The programme, themed “Building for Impact,” is NSIA’s flagship innovation and entrepreneurship initiative designed to identify and support high-potential startups developing scalable solutions to critical national challenges while promoting economic growth, job creation and sustainable development.
According to a statement issued by the Authority’s spokesperson, Joyce Onyegbula, the fourth edition introduces enhanced opportunities through strategic partnerships with Cascador and Wema Bank.
She said the combined prize pool comprises $220,000 from NSIA, $45,000 from Cascador and $10,000 from Wema Bank, reflecting a shared commitment to supporting innovative businesses capable of delivering meaningful impact.
Beyond the grants, Onyegbula said participating startups would benefit from access to capital, capacity development, mentorship and strategic networks aimed at transforming innovative ideas into scalable businesses.
She added that a major highlight of this year’s programme is the opportunity for winners to secure up to $1.5 million in funding through the Pula Xcelerator, providing growth capital to expand operations and increase impact.
In addition, winners will have the opportunity to compete at the grand finale of the Wema Bank Hackaholics programme for a share of N100 million in equity-free grants, while also receiving fully funded business development training at the Enterprise Development Centre (EDC), Lagos.
The training programme is expected to equip entrepreneurs with skills in business strategy, leadership, governance, financial management, market expansion and investor readiness.
Onyegbula said NPI 4.0 will focus on startups operating in the Manufacturing, Climate and Food Security, and Healthcare sectors, in line with NSIA’s commitment to supporting innovation in areas critical to economic growth and sustainable development.
She noted that the programme aims to empower founders developing solutions that strengthen productive capacity, improve healthcare delivery, enhance food systems, promote environmental sustainability and advance climate resilience.
Commenting on the initiative, the Managing Director and Chief Executive Officer of NSIA, Aminu Umar-Sadiq, said the programme reflects the Authority’s continued commitment to supporting entrepreneurs with the resources required to scale innovative ideas into sustainable businesses.
“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,” he said.
Umar-Sadiq noted that the enhancements introduced in the fourth edition underscore NSIA’s determination to strengthen Nigeria’s innovation ecosystem and support founders leveraging technology and innovation to shape the country’s economic future.
Since its inception, the NSIA Prize for Innovation has attracted more than 20,000 applications from startups across all six geopolitical zones, covering sectors such as fintech, agritech, health technology, education technology, transport and logistics.
Applications are now open to eligible startups in the programme’s priority sectors, with NSIA encouraging ambitious entrepreneurs to take advantage of the funding, training, mentorship and investment opportunities available under NPI 4.0.
