The Nigeria Sovereign Investment Authority (NSIA) has awarded a total of $220,000 in funding to outstanding Nigerian tech startups under its Prize for Innovation (NPI) initiative.
The funding support, delivered in partnership with the Government of Japan through the Japan International Cooperation Agency (JICA), aims to finance early-stage entrepreneurs and innovators in critical sectors of the economy. Both governments committed $14 million each, totaling a $28 million support pool for the initiative.
D-Olivette Labs, developers of an AI-powered biodigester that converts food and agricultural waste into clean energy and organic fertilizer, emerged top winner. The startup took home a $100,000 grand prize and a $15,000 Cascador Impact Prize—bringing its total award to $115,000.
Ten startups were selected from over 5,000 applicants in healthcare, agriculture, and education to pitch at the NPI 3.0 Demo Day held in Abuja.
Promise Point, a cassava processing venture led by women and working with over 2,000 smallholder farmers, won $70,000 and a $15,000 Cascador Impact Prize, totaling $85,000.
GeroCare, a health-tech platform focused on elderly care, secured third place with a $50,000 prize and a $5,000 PVAC Healthcare Innovation Prize, bringing its total to $55,000.
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Other winners included:
- Mediverse, a lab automation startup ($5,000 PVAC prize)
- Sosocare, a low-cost health insurance provider ($5,000 PVAC prize)
- FriendsnPal, a mental health platform offering anonymous 24/7 emotional support ($15,000 Cascador Impact Prize)
The NSIA Prize also offers a five-week, fully funded training programme at Draper University in Silicon Valley, USA, for the selected innovators.
NSIA partnered with the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) and Cascador to expand rewards and exposure for the finalists.
Speaking at the event, NSIA MD/CEO Aminu Umar-Sadiq said the initiative underscores NSIA's commitment to supporting youth-led, homegrown innovation that tackles Nigeria's critical challenges.
Also speaking, the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, praised the initiative for boosting entrepreneurship and promoting job creation. He called for stronger collaboration between inventors and investors in key sectors.
The Deputy Head of Mission at the Japanese Embassy, Mr. Hitoshi Kozaki, pledged Japan's continued support for the initiative, commending Nigerian youth for their capacity to create scalable solutions.
Now in its third year, the NSIA Prize for Innovation is a multi-year programme that identifies, supports, and funds high-potential early-stage solutions to drive economic growth, job creation, and national development.
