The Nigeria Sovereign Investment Authority (NSIA) has unveiled the winners of the third edition of its NSIA Prize for Innovation (NPI 3.0), a flagship initiative aimed at supporting early-stage Nigerian startups developing game-changing solutions to tackle some of the country’s most urgent challenges.
The announcement followed an intense pitch competition during the NPI 3.0 Demo Day, where 10 finalists, selected from more than 5,000 applicants across healthcare, agriculture, and education, presented their innovations to a panel of expert judges from business and technology sectors.
This year’s edition featured a total prize pool of $220,000 and included a fully sponsored five-week training programme at Draper University in Silicon Valley, USA. NSIA also partnered with the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) and Cascador to broaden the scope of rewards, offering three $15,000 Cascador Impact Prizes and additional $5,000 prizes through PVAC.
Three of the top 10 finalists also received the Healthcare Innovation Prize.
Top winners include:
D-Olivette Labs emerged as the overall winner, receiving $100,000 from NSIA and a $15,000 Cascador Impact Prize. The company develops smart, AI-powered biodigesters that convert farm and food waste into clean energy and organic fertiliser, taking home a total of $115,000.
Promise Point, a woman-led cassava processing venture operating a fully automated plant on 1,500 hectares of farmland and working with over 2,000 smallholder farmers, secured second place. It won $70,000 from NSIA and an additional $15,000 Cascador Impact Prize, totalling $85,000.
GeroCare, a digital health platform improving elderly care in Nigeria, finished third with a $50,000 prize and a $5,000 PVAC Healthcare Innovation Prize, bringing its total to $55,000.
Additional winners of the $5,000 PVAC Healthcare Innovation Prize included:
Mediverse, creators of Nigeria’s pioneering Level 2 lab automation software, combining cloud-based LIMS, an electronic lab notebook, and IoT applications.
Sosocare, a low-cost health insurance platform improving access to affordable healthcare across the country.
Meanwhile, FriendsnPal, Africa’s first predictive AI-powered mental health platform providing round-the-clock anonymous emotional support, also received the $15,000 Cascador Impact Prize.
At the event, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, affirmed the government’s commitment to financially empower startups, enabling them to scale their solutions, connect with the global economy, and contribute to job creation and wealth generation.
“You have your ideas and your product, and you must stick with them. But the key is implementation,” he said. “We must focus on healthcare, education, and especially agriculture. We need new methods and increased productivity.”
NSIA’s Managing Director and CEO, Aminu Umar-Sadiq, highlighted the Prize as part of the Authority’s strategy to foster homegrown innovation and youth entrepreneurship. He commended the winners and reaffirmed NSIA’s commitment to empowering Nigerian entrepreneurs with global potential.
Also speaking at the event, Hitoshi Kozaki, Deputy Head of Mission at the Embassy of Japan in Nigeria, said Japan is committed to investing in Nigeria’s social startups, noting that infrastructure and funding support are being jointly provided by both countries through NSIA.
He disclosed that Japan has committed a $10 million grant for startup hubs in Abuja and is injecting an additional $20 million into the NSIA-managed fund to help Nigerian entrepreneurs collaborate with Japanese businesses.
The NSIA Prize for Innovation continues to serve as a catalyst for Nigeria’s tech ecosystem, empowering startups with funding, exposure, mentorship, and access to a global network of investors and entrepreneurs.
About The Author
