The Nigeria Sovereign Investment Authority (NSIA) has announced the winners of the third edition of the NSIA Prize for Innovation (NPI 3.0).
The winners were revealed in a statement by Joyce Onyegbula, Head of Corporate Communications at NSIA, following an intense pitch session during the recent NPI 3.0 Demo Day held in Abuja.
Onyegbula stated that the top three finalists this year will receive a combined prize of $220,000, comprising both cash and equity investment.
She explained that 10 finalists were selected from over 5,000 applicants across the healthcare, agriculture, and education sectors. These finalists presented their transformative solutions before a panel of expert judges drawn from business and technology ecosystems.
According to her, the NPI is an initiative designed to support early-stage Nigerian innovators who are developing transformative solutions to address some of the country’s most pressing challenges.
“The NPI reflects the Authority’s ongoing commitment to boost Nigeria’s technology ecosystem by identifying and rewarding innovators, providing tools for scaling, connecting start-ups with investors, and fostering a strong community of technology entrepreneurs,” Onyegbula said.
She added that the NSIA partnered with the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) and Cascador to expand the reward pool for participating start-ups.
“Three start-ups from the top 10 will receive the Cascador Impact Prize of $15,000 each, while another three will receive the $5,000 PVAC Healthcare Innovation Prize,” she announced.
Additionally, all top 10 finalists will participate in a five-week, all-expenses-paid training programme at Draper University in Silicon Valley, USA, where they will benefit from world-class mentorship and networking opportunities.
Top Winners
D-Olivette Labs, developers of AI-powered bio-digesters that convert farm and food waste into clean energy and organic fertilisers, emerged as the first-place winner. They received a combined prize of $100,000 from NSIA, along with the $15,000 Cascador Impact Prize, bringing their total prize value to $115,000.
In second place was Promise Point, a woman-led cassava processing solution featuring a fully automated facility on over 1,500 hectares of owned farmland and a network of over 2,000 smallholder farmers. The team received $70,000 from NSIA and an additional $15,000 Cascador Impact Prize, totalling $85,000.
Third place went to GeroCare, a pioneering health-tech platform focused on improving elderly care in Nigeria. They received a combined $50,000 from NSIA and a $5,000 PVAC Healthcare Innovation Prize, bringing their total to $55,000.
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Other Prize Recipients
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Mediverse, a Nigerian-built lab automation platform integrating cloud-based Laboratory Information Management Systems and IoT tools, received the $5,000 PVAC Healthcare Innovation Prize.
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Sosocare, a low-cost health insurance platform expanding access to healthcare for Nigerians, also received the $5,000 PVAC Healthcare Innovation Prize.
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FriendsnPal, Africa’s first predictive AI-powered mental health platform offering 24/7 anonymous emotional support, was awarded the $15,000 Cascador Impact Prize.
Aminu Umar-Sadiq, Managing Director/CEO of NSIA, reiterated the Authority’s commitment to nurturing homegrown solutions with transformative potential.
“This year, we partnered with PVAC and Cascador to broaden the opportunities available to participating start-ups and to further drive innovation, youth entrepreneurship, and socio-economic development,” he said.
Dr Abdu Mukhtar, National Coordinator of PVAC, noted that the partnership with NSIA aims to mobilise the private sector and spotlight innovative healthcare solutions.
“We are identifying viable solutions, bringing them to the forefront, and securing financing to scale their businesses for the benefit of citizens,” he said.
Ms Amanda Etuk, Programme Director at Cascador, said the organisation awarded $45,000 to the most impactful startups across the three highlighted sectors.
“We believe entrepreneurs are vital to economic development through job creation. Cascador’s partnership with NSIA is about mentoring and supporting them through these impact funds,” she stated.
Mr Kozaki Hitoshi, Deputy Head of Missions at the Embassy of Japan, revealed that the Japanese government is investing $10 million in infrastructure development at Abuja’s social startup hub. The project is jointly funded with the Nigerian government and managed by the NSIA.
“This joint funding and ownership model will foster collaboration between Nigerian and Japanese businesses in launching ventures,” he noted.
Mr Joseph Giblin, Economic Counsellor at the U.S. Embassy, also expressed the U.S. Government’s commitment to supporting Nigeria’s innovation ecosystem.
“Programmes like this highlight the importance of investing in the ideas and talents of the next generation. Seeing these innovators tackling major challenges, especially in agriculture, is inspiring,” he said.
