NSIA Awards $277,000 to 7 Nigerian Startups at NPI

In Short

The Nigeria Sovereign Investment Authority (NSIA) and its partners awarded $277,000 to seven Nigerian startups through the fourth edition of the NSIA Prize for Innovation (NPI).

The winners were announced during the final Demo 4.0 Day, where 12 selected startups pitched after emerging from more than 6,000 initial applicants.

What Happened: How NSIA Split The NPI 4.0 Prizes

NSIA said the combined prize value of $277,000 included $220,000 from the NSIA, $45,000 from Cascador, and $12,000 from Wema Bank.

Come Again Foods, a Nigerian food manufacturer producing packaged snacks from locally sourced agricultural commodities, emerged as the winner. The company said its product portfolio includes Tapiokies, and it received a combined prize valued at $105,000, made up of $100,000 from the NSIA and a $5,000 Cascador Impact Prize.

Protein Kapital, an insect-farming company that produces protein and biofertiliser by using Black Soldier Fly larvae to process organic waste, came second. The company processes approximately 5,000 tonnes of waste across three countries and received $70,000 from the NSIA.

Teleradiology means sending medical imaging to radiologists remotely for review.

Other winners included Eight Medical, which provides access to ambulances, hospitals, and trained emergency personnel through WhatsApp, USSD, IVR, and telephone channels. It won the $15,000 Cascador Impact Prize and $4,000 from Wema Bank.

Uwana Energy won a $5,000 PVAC Healthcare Innovation Prize. Tryctor and Smartei Agri Tech each received $4,000.

NSIA said the awards include both cash and equity components.

Why It Matters

The programme focused on startups in manufacturing, climate and food security, and healthcare.

NSIA said the nine additional NSIA award finalists, classified as fourth-place finalists, will join the top three winners for a six-week, all-expenses-paid learning programme at Lagos Business School.

The selection process included pitches to a live audience and a panel of judges. Deliotte Consultancy vetted the process from application stage to finality.

NSIA also said the edition offered potential access to up to $1.5 million through the Pula Xcelerator, and an opportunity to compete for N100 million in equity-free grants at the grand finale of Wema Bank’s Hackaholics programme.