For startups poised to revolutionize their industries with groundbreaking tech-enabled solutions, the NSIA Prize for Innovation 2024 presents a golden opportunity.
Sponsored by the Nigeria Sovereign Investment Authority (NSIA), this initiative offers a chance to win up to US $220,000 in prizes and an all-expense-paid training program in Silicon Valley, USA.
Objectives and Sponsorship:
The NSIA Prize for Innovation (NPI) is a strategic initiative backed by the Nigeria Sovereign Investment Authority.
Its primary goals are to catalyze innovation within Nigeria’s digital ecosystem, fostering homegrown solutions that contribute to socio-economic development.
NPI seeks to incentivize and support creativity, particularly in the digital sphere, aiming to fuel transformative economic growth, enhance national productivity, and generate employment opportunities.
Eligibility Criteria:
Open to startups with the potential to introduce groundbreaking, tech-enabled solutions within their respective industries, the NPI targets a broad spectrum of innovators.
While the priority sectors include Financial Services, Agriculture, Health, Education, Manufacturing, Logistics & E-mobility, E-commerce & Marketplaces, and Climate, applicants outside these sectors are encouraged to apply.
Prizes and Recognition:
The NPI promises significant rewards for participants, with ten finalists standing a chance to win various prizes.
The top three winners will receive a combination of cash and equity, providing crucial support for their startups.
This financial boost will be offered in a 75:25 equity and cash mix, with the equity stake determined through a valuation process.
Additionally, the top ten finalists will embark on an enriching, all-expense-paid 5-week training program at a prestigious US university in Silicon Valley.
This opportunity includes a platform to pitch to angel investors, offering global exposure.
Application Details:
To seize this opportunity, interested startups need to submit their applications before the deadline on March 3, 2024.
The application process is accessible through the provided link, offering a straightforward avenue for innovative entrepreneurs to showcase their potential.
Conclusion:
As the deadline approaches, the NSIA Prize for Innovation 2024 stands as a beacon for tech-driven startups in Nigeria.
Beyond the financial incentives, the program opens doors to valuable training and global exposure, positioning participating startups for sustainable growth and success.
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