NSIA 2023 Prize for Innovation for Nigerian Entrepreneurs (Up to $250k Prize) for Course

Eligibility Criteria

• One of the founders must be a Nigerian Citizen
• Applicants must be 18 years or older
• Applicants must be running Innovative tech-focused or tech-enabled businesses/startups
• The business should have operated for not less than six months and operating in or with a presence in Nigeria
• The business should be looking to raise a seed round
• The business should have developed a minimum viable product (MVP)
• Applicants must be willing and able to commit to a 4-week fast-track accelerator program
• Only one application is permitted per applicant irrespective of the sector. Subsequent applications will be disqualified

Offered Benefits

Aim:

• To recognize and reward Nigerian innovators and start-up founders in the tech ecosystem.
• To act as an early-stage investment catalyst for innovators.
• To mentor and equip founders with the tools required for scaling and product-market fit.
• To connect startup founders to potential investors.
• To create a community of connected individuals to ensure partnership across the ecosystem.

Prize:

• First prize: $100,000
• Second prize: $70,000
• Third prize: $50,000
• 4TH to 10TH: $5,000 each

Application Process

• Pre-selection Stage: At this stage, innovators submit their applications through an application portal. Applicants are expected to provide details regarding their digital products/services and business models.
•  Accelerator Stage: Shortlisted innovators will participate in an accelerator programme designed to train, mentor and equip them with the tools required to succeed. Participants at this stage will be judged by an independent panel of expert judges and ten (10) finalists will move on to the final stage (demo day).
• Final Stage (Demo Day): Each of the ten (10) finalists will be allotted a time slot to present their pitch to the judges. The judging panel will review the submission and rank the winners from 1st to 10th.