The Nigeria Sovereign Investment Authority (NSIA) has opened applications for the fourth edition of the 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 aimed at identifying and supporting high-potential startups developing scalable solutions to Nigeria’s most pressing challenges while driving economic growth, job creation and sustainable development.
According to the Authority, this year’s edition introduces expanded opportunities through strategic partnerships with Cascador and Wema Bank. The combined prize pool includes $220,000 from NSIA, $45,000 from Cascador and $10,000 from Wema Bank, reflecting a joint commitment to supporting innovative businesses capable of delivering lasting impact.
Beyond the grant funding, participating startups will gain access to entrepreneurial training, mentorship, capacity development, strategic business networks and opportunities to connect with investors, helping founders transform innovative ideas into scalable and sustainable enterprises.
A key highlight of NPI 4.0 is the opportunity for winners to secure up to $1.5 million in additional funding through the Pula Xcelerator programme. The growth capital is expected to help promising startups expand their operations, strengthen their market presence and increase their impact.
Winning startups will also qualify to compete at the grand finale of the Wema Bank Hackaholics programme, where they will have the opportunity to win a share of N100 million in equity-free grants. In addition, they will receive fully funded business development training at the Enterprise Development Centre (EDC), Lagos.
The training programme will focus on practical areas including business strategy, leadership, corporate governance, financial management, market expansion and investor readiness, equipping entrepreneurs with the knowledge required to build resilient and investment-ready businesses.
This year’s programme is targeted at startups operating within the Manufacturing, Climate and Food Security, and Healthcare sectors. According to NSIA, these sectors were selected because of their strategic importance to Nigeria’s economic development, productivity, environmental sustainability and long-term resilience.
The Authority said it is particularly interested in supporting founders developing innovative solutions that improve healthcare delivery, strengthen food systems, expand manufacturing capacity, promote climate resilience and advance environmental sustainability.
Speaking on the initiative, the Managing Director and Chief Executive Officer of NSIA said entrepreneurs across Nigeria are creating innovative solutions capable of transforming industries, improving livelihoods and addressing critical development challenges. He noted that the NSIA Prize for Innovation is designed to provide founders with the funding, training, mentorship and strategic partnerships needed to scale their businesses into sustainable ventures.
He added that the improvements introduced in the fourth edition demonstrate NSIA’s continued commitment to strengthening Nigeria’s innovation ecosystem and supporting entrepreneurs using technology and innovation to shape the country’s economic future.
Since its launch, the NSIA Prize for Innovation has received more than 20,000 applications from startups across Nigeria’s six geopolitical zones, spanning sectors including fintech, agritech, health technology, education technology, transportation and logistics.
Applications are now open to eligible startups in the programme’s priority sectors, with NSIA encouraging ambitious entrepreneurs and innovators to take advantage of the funding, business development support, mentorship and investment opportunities available through NPI 4.0.