The Nigeria Sovereign Investment Authority (NSIA) has opened applications for the fourth edition of its flagship entrepreneurship programme, the NSIA Prize for Innovation (NPI 4.0).
The prize for innovation is aimed at supporting high-potential startups through funding, mentorship, capacity building and strategic partnerships.

The 2026 edition, themed ‘Building for Impact,’ focusses on startups operating in the manufacturing, climate and food security, and healthcare sectors as part of the Authority’s commitment to promoting innovation in areas critical to economic growth and sustainable development.
Speaking on the programme in a statement issued in Abuja, NSIA’s spokesperson, Joyce Onyegbula, said the initiative has grown into one of Nigeria’s leading entrepreneurship development platforms since its inception, attracting more than 20,000 applications across its first three editions.

According to her, participating startups have come from key sectors including fintech, agritech, healthtech, edtech, transport and logistics, with representation from all six geopolitical zones.
She said the programme’s success reflects the growing strength of Nigeria’s entrepreneurial ecosystem and the increasing capacity of local innovators to develop solutions that create jobs, strengthen industries and contribute to national development.

Onyegbula stated that this year’s edition introduces expanded opportunities through strategic partnerships, with a combined prize pool of $275,000. The prize comprises $220,000 from NSIA, $45,000 from Cascador and $10,000 from Wema Bank.
She added that beyond the prize money, NPI 4.0 has been designed to provide participating startups with access to entrepreneurial training, mentorship, investor networks and business development support to help transform innovative ideas into scalable enterprises.

A major feature of this year’s programme, she noted, is the opportunity for winners to secure up to $1.5 million in funding through the Pula Xcelerator to support business expansion and operational growth.
Successful participants will also have the opportunity to compete at the Grand Finale of the Wema Bank Hackaholics programme for a share of N100 million in equity-free grants, while benefiting from increased visibility, strategic partnerships and market access.

In addition, winners will participate in a fully funded programme at the Enterprise Development Centre (EDC), Lagos, where they will receive training in business strategy, leadership, corporate governance, financial management, market expansion and investor readiness.
Commenting on the initiative, the Managing Director and Chief Executive Officer of NSIA, Aminu Umar-Sadiq, said the Authority remains committed to supporting entrepreneurs whose innovations have the potential to address critical development challenges and contribute to Nigeria’s economic transformation.

He said the enhancements introduced in the fourth edition of the programme demonstrate NSIA’s continued commitment to providing founders with access to funding, technical support, mentorship and strategic partnerships needed to build sustainable businesses.
Also speaking, Executive Director of Cascador, Trish Thomas, said the organisation would provide $45,000 in non-dilutive funding through the Cascador Prize for Impact to support innovative ventures capable of delivering measurable social impact.

Reviewing the programme’s impact, Umar-Sadiq said previous editions had supported startups developing solutions across sectors such as financial inclusion, agriculture, education, technology and sustainable development through funding, mentorship and technical assistance.
He added that the programme has helped participating startups strengthen their business models, expand operations and enhance their capacity to generate economic and social value.

The NSIA, therefore, called on founders and startups developing innovative technologies, products and solutions within the manufacturing, climate and food security, and healthcare sectors to apply for the programme.
According to the Authority, NPI 4.0 is designed to provide entrepreneurs with grant funding, entrepreneurial training, mentorship, investor exposure and access to additional financing opportunities to enable promising startups to scale into market-leading enterprises.