By Abiodun Folarin
WorldStage– The Nigeria Sovereign Investment Authority (NSIA) has commenced applications for the fourth edition of its flagship NSIA Prize for Innovation (NPI 4.0), unveiling a combined prize pool of $275,000 to support high-potential Nigerian startups driving innovation and economic development.
The programme, themed “Building for Impact,” is a fully funded entrepreneurship initiative designed to identify, nurture and scale startups through grant funding, mentorship, capacity building and strategic partnerships.
In a statement issued in Abuja on Friday, NSIA spokesperson, Joyce Onyegbula, said the initiative has grown into one of Nigeria’s leading platforms for entrepreneurship development, attracting more than 20,000 applications across its first three editions from startups in sectors such as fintech, agritech, healthtech, edtech, transport and logistics.
She said this year’s edition will focus on startups operating in Manufacturing, Climate and Food Security, and Healthcare, in line with the Authority’s commitment to supporting innovation in sectors critical to economic growth and sustainable development.
According to Onyegbula, the programme aims to empower founders developing scalable solutions that strengthen productive capacity, improve healthcare delivery, enhance food security and promote climate resilience.
She disclosed that the $275,000 prize pool comprises $220,000 from NSIA, $45,000 from Cascador and $10,000 from Wema Bank.
Beyond the grants, successful participants will have the opportunity to access up to $1.5 million in funding through the Pula Xcelerator, while winners will also qualify to compete at the Wema Bank Hackaholics Grand Finale for a share of ₦100 million in equity-free grants.
The winners will equally benefit from a fully funded entrepreneurship programme at the Enterprise Development Centre (EDC), Lagos, where they will receive training in business strategy, leadership, governance, financial management, investor readiness and market expansion.
Speaking on the initiative, the Managing Director and Chief Executive Officer of NSIA, Aminu Umar-Sadiq, said the competition is designed to provide entrepreneurs with the resources required to transform innovative ideas into sustainable businesses.
“Across Nigeria, entrepreneurs are building solutions with the potential to transform industries, improve livelihoods and address some of our most pressing development challenges,” Umar-Sadiq said.
He noted that the enhanced features introduced in NPI 4.0 demonstrate NSIA’s continued commitment to supporting founders leveraging innovation to shape Nigeria’s economic future.
Also commenting, Cascador Executive Director, Trish Thomas, said the organisation is partnering with NSIA to reward startups developing technology-driven solutions with strong social impact.
“As part of our commitment to supporting the growth of high-potential Nigerian ventures, we are awarding $45,000 in non-dilutive prize funding through the Cascador Prize for Impact,” Thomas said.
Reviewing the programme’s achievements, Umar-Sadiq said previous editions had supported startups tackling challenges in financial inclusion, agriculture, education, technology and sustainable development through funding, mentorship and technical support.
He added that the initiative has helped participating businesses strengthen their operations, improve investment readiness and expand their economic and social impact.
The NSIA boss called on entrepreneurs and startups operating within the targeted sectors to apply for the programme, describing NPI 4.0 as more than a competition but a comprehensive growth platform offering access to funding, entrepreneurial training, mentorship, investor exposure and strategic partnerships.
