The Nigeria Sovereign Investment Authority (NSIA) has announced the winners of the third edition of the NSIA Prize for Innovation (NPI 3.0) — an initiative designed to support early-stage Nigerian innovators developing transformative solutions to address some of the country’s most pressing challenges.
This announcement, NSIA said came after an intense pitch session at the recently concluded NPI 3.0 Demo Day, where ten finalists selected from over 5,000 applicants in healthcare, agriculture and education, presented their transformative solutions to an expert panel of judges from business and technology ecosystems.
This year, in addition to the combined prize pool of $220,000 and a five-week fully funded training programme at Draper University, Silicon Valley, USA , NSIA partnered with the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC) and Cascador to expand the rewards for participating startups with the Cascador Impact Prize of $15,000 each for three start-ups and the $5,000 PVAC Healthcare Innovation Prize also for three start-ups within the top ten.
D-Olivette Labs, developers of smart AI powered bio-digesters that convert farm and food waste into clean energy and organics fertilizers clinched the top spot with a combined prize value of US$100,000 from NSIA as well as a Cascador Impact prize of $15,000, bringing its total combined prize value to $115,000.
Promise Point, a woman-led cassava processing solution with a fully automated facility on over 1,500 hectares of owned farmland and a network of over 2,000 small holder farmers within its value chain came second position with a prize value of US$70,000 and the Cascador Impact Prize of $15,000 bringing its total combined prize value to $85,000.
GeroCare, a pioneering health tech platform focused on restoring dignity and improving care outcomes by positively transforming elderly care in Nigeria came third place with a combined prize of US$50,000 and a PVAC Healthcare Innovation Prize of $5,000 bringing total winnings to $55,000.
Additionally, Mediverse – a Nigerian-built laboratory automation platform that combines a cloud Laboratory Information Management System, an electronic Lab Notebook and a small onprem IoT application to provide a pioneer Level 2 lab automation software won the $5,000 PVAC Healthcare innovation prize.
Sosocare, a low-cost health insurance platform that aims to further unlock access to optimal healthcare through access to health insurance for Nigerians also won $5,000 PVAC Healthcare Innovation Prize each.
FriendsnPal, Africa’s first predictive AI powered mental health platform that delivers 24-hour anonymous emotional support also won the $15,000 Cascador Impact Prize.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, while delivering a keynote address spotlighted innovation as the cornerstone of Nigeria’s economic transformation, describing innovation as the bedrock of productivity
He emphasised that the country’s shift from potential to prosperity hinges on homegrown, scalable solutions led by its youthful population, over 65% of whom are under 30.
Nigeria’s transformation, he said must be built on ideas, driven by youth and anchored in inclusivity. For the private sector, Edun’smessage was clear: Nigeria’s future growth will be fueled by long-term investments in enterprise.
The minister reaffirmed the Federal Government’s commitment to unlocking patient capital through mechanisms such as the N200 billion Presidential MSME Fund, streamlining regulation, and positioning government as an early adopter of tech-enabled solutions.
He also announced upcoming policy tools—including National Innovation Hubs, Youth Innovation Trusts, and the mainstreaming of coding in basic education aimed at catalysing enterprise at scale. Commending the NSIA’s support for startups beyond infrastructure into sectors like health, digital learning, and agri-value chains, Edun noted that the Demo Day exemplified how a strong innovation pipeline is central to Nigeria’s post-oil, private-sector-led growth.
While speaking at the event, Aminu Umar-Sadiq, MD & CEO of the NSIA, stated that: “The NSIA Prize for Innovation exemplifies our commitment to nurturing homegrown solutions with the potential for transformative impact. This year, we have partnered with PVAC and Cascador to expand the opportunities for participating start-ups and further propel innovation, youth entrepreneurship and meaningful solutions that drive positive socio-economic outcomes. The NSIA congratulates all finalists and winners, and reaffirms its dedication to driving innovation, creating jobs, and repositioning Nigerian entrepreneurs for global relevance”.
The NSIA Prize for Innovation (NPI) aligns with the Authority’s ongoing commitment to catalyse the technology ecosystem by identifyingand rewarding Nigerian innovators, equipping them with the right tools to scale product – market fit, connecting start-ups with potential investors and delivering a robust community of technology innovators and entrepreneurs.
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