The Nigeria Sovereign Investment Authority (NSIA) has awarded $220,000 in cash prizes to top-performing Nigerian startups at the third edition of its flagship innovation programme, the NSIA Prize for Innovation (NPI 3.0).
Held in Abuja, the NPI 3.0 Demo Day brought together 10 finalists—selected from over 5,000 applicants—who presented their ideas to a panel of expert judges from the business and technology sectors.
The event was attended by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
The competition aims to identify and support homegrown solutions that address pressing national challenges. This year, NSIA partnered with the Presidential Initiative for Unlocking the Healthcare Value Chain (PIVAC) and entrepreneurship accelerator, Cascador, to introduce new reward categories that increased the total prize pool and diversified the recognition structure.
Emerging as the overall winner, D-Olivette Labs secured the top spot with its AI-powered smart bio-digesters that transform agricultural and food waste into clean energy and organic fertilizer. The company received $100,000 from NSIA, along with a $15,000 Cascador Impact Prize, bringing its total reward to $115,000.
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Second place went to Promise Point, a woman-led cassava processing startup that operates an automated facility spanning over 1,500 hectares and works with more than 2,000 smallholder farmers. It received $70,000 from NSIA and a $15,000 Cascador Impact Prize, totaling $85,000.
GeroCare, a digital health platform that provides enhanced medical support for the elderly, was awarded $50,000 from NSIA and an additional $5,000 PVAC Healthcare Innovation Prize, amounting to $55,000.
Other startups recognized include: Mediverse, a lab automation solution, and Sosocare, a low-cost health insurance platform. Both received $5,000 PVAC Healthcare Innovation Prizes.
FriendsnPal, a predictive AI-powered mental health platform, was awarded a $15,000 Cascador Impact Prize.
Beyond the monetary rewards, all 10 finalists will participate in a fully funded five-week training programme at Draper University in Silicon Valley, USA. The experience is expected to expose them to global best practices and enhance their entrepreneurial capabilities.
NSIA Managing Director and CEO, Aminu Umar-Sadiq, said the programme reflects NSIA’s long-term commitment to innovation and economic diversification. “The NSIA Prize for Innovation exemplifies our commitment to nurturing homegrown solutions with the potential for transformative impact,” he said.
He explained that partnerships with PIVAC and Cascador this year enabled NSIA to deepen its impact and offer broader support to startups, particularly those in the healthcare and social impact sectors.
The Authority described the NPI as part of a wider strategy to boost job creation, encourage entrepreneurship, and support Nigeria’s shift towards a knowledge-based economy.
The NPI competition is structured across several phases, starting with an open call for online applications. Shortlisted candidates participate in a rigorous accelerator programme, which includes both virtual and physical bootcamps, as well as a mini demo day. The top ten finalists proceed to the grand finale, where they pitch before judges on Demo Day. The final phase includes the international training at Draper University.
NSIA said it will continue to provide a platform for innovative startups to thrive and scale, both locally and globally, in alignment with its developmental investment goals.
