NSIA Prize for Innovation 3.0 opens with $220,000 in funding and Silicon Valley training
Startups with bold, scalable ideas across healthcare, education, or agriculture now have a chance to scale faster, smarter, and bigger with the third edition of the NSIA Prize for Innovation (NPI 3.0).
Organised by the Nigeria Sovereign Investment Authority (NSIA), the NPI is a national call to action for homegrown solutions that tackle real problems. With an overarching goal to accelerate early-stage startups, the prize empowers founders to refine their products, gain market traction, and attract investment, all while creating long-term socio-economic impact.
Through NPI 3.0, the NSIA is rewarding the most promising innovations with not just funding, but end-to-end support, giving founders the chance to unlock growth in ways that matter. Startups that make the top 10 will receive a fully funded five-week training programme at a leading institution in Silicon Valley, global exposure, and the recognition needed to stand out in the Nigerian and international startup ecosystems.
The application process is designed to uncover high-impact solutions and support their journey to market. After submitting their applications online, 150 shortlisted innovators will join a virtual training program. From there, the top 25 advance to a hands-on physical bootcamp, where they’ll refine their business models and prepare for a high-stakes demo day. The final 10 startups will pitch to expert judges, and winners will emerge with cash, equity support, and long-term visibility.
Benefits:
Selected startups will benefit from NSIA Prize for Innovation (NPI 3.0):
- A five-week fully funded training program at a top institution in Silicon Valley, USA
- Exposure to investors and international startup networks
- NPI 2025 Recognition Plaque and listing on the official NSIA website
- National and digital media recognition
- Strategic marketing through the NSIA platforms
- For a year, you can use the Innovation Award emblem on your product packaging and marketing collateral.
And of course, cash + equity prizes for the top three winners:
- 🥇 1st Prize: $100,000 ($75,000 equity + $25,000 cash)
- 🥈 2nd Prize: $70,000 ($52,500 equity + $17,500 cash)
- 🥉 3rd Prize: $50,000 ($37,500 equity + $12,500 cash)
Who can apply?
You’re eligible if you meet these criteria:
- At least one founder is a Nigerian citizen, aged 18 or older
- Your startup has been operational in Nigeria for at least six months
- With a minimal viable product (MVP) in place, the firm should be seeking to raise a seed round
- You’re building a solution with measurable social impact
- You can commit to a 10-week acceleration program
Selection criteria
Entries will be evaluated by a panel of industry experts from across various sectors and NSIA representatives, based on:
- Innovation: How unique and groundbreaking is the solution?
- Impact: Does it address real-world challenges effectively?
- Design: Is the product user-friendly, practical, and well-developed?
- Scalability: Can the startup expand beyond its current market?
- Execution: How feasible and clear is the implementation plan?
Key dates to note
- Applications Open: March 5, 2025
- Submission Deadline: April 5, 2025
- Virtual Training: May 12–26, 2025
- Physical Bootcamp: June 16–21, 2025
- Mini Demo: June 28, 2025
- Demo Day & Silicon Valley Training: (Dates to be announced)
How to apply
Ready to scale your innovation? Head over to the NPI 3.0 Application Portal and submit your idea no later than Saturday, April 5, 2025.
From healthcare to edtech, agri-tech, and ground-breaking ideas shaping Nigeria’s future, NSIA Prize for Innovation (NPI 3.0) is poised to empower the next wave of changemakers. NSIA wishes to support you as you construct the future.
Do you have an innovative business (small, mid-scale business or startup) that adds value, creates opportunities or solves bold problems? Then you`ve got a story worth telling? Shoot us an email with SUBJECT “Story Worth Telling (+Name of Business)” to editorial@smepeaks.com