The Nigeria Sovereign Investment Authority (NSIA) has awarded the sum of $220,000 to three Nigerian startups through the second edition of its NSIA Prize for Innovation.
The prize winners emerged last Saturday during the final Demo Day where 10 selected startups pitched their innovation, according to a statement.
“The NSIA prize for innovation was conceptualized in recognition of the pivotal role that technology plays to shape positive socio-economic outcomes, strengthen multiple sectors, significantly expand opportunities across multiple sectors, and re-position homegrown talent for global relevance,” Aminu Umar-Sadiq, managing director and chief executive of NSIA said.
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“Now in its second year, the NSIA has so far received commendable attention from the tech eco-system as the registration of credible start-ups across Nigeria to join the program has grown from 2,000 to over 7,000 entries within the current year,” he said.
Sycamore, a peer-to-peer lending fintech platform that leverages technology to connect lenders and borrowers, won the grand prize of $100,000.
Kunda Kids, an edtech media company focused on providing well illustrated engaging African African-inspired digital content to children, parents, and libraries globally – followed closely at the second position with a combined prize value of $70,000.
PaveHQ, a learning and career ecosystem that supports students to achieve a successful career came third with a total combined prize value of $50,000, bringing the total combined prize value to $220,000.
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NSIA said in a statement that the emergence of the winners followed an assessment of pitches from ten innovators to an expert panel of judges drawn from the business and technology ecosystem.
“The evaluation was based on key metrics including market potential, team composition, traction, and competitiveness of the solution proposed,” it stated.
