The Nigeria Sovereign Investment Authority (NSIA) has announced Sycamore as the winner of the second edition of the NSIA Prize for Innovation (NPI 2.0). This announcement came after an intensive assessment of pitches from ten innovators by an expert panel of judges, who evaluated based on market potential, team composition, traction, and competitiveness of the proposed solutions.
About the Winning Innovations
Sycamore:
- Founder: Babatunde Akin-Moses
- Platform: Peer-to-peer lending fintech
- Objective: Empower African businesses and drive economic growth by bridging the credit gap using technology.
- Prize: US$100,000
Kunda Kids:
- Focus: Edtech media company providing African-inspired digital content for children.
- Prize: US$70,000
PaveHQ:
- Focus: Learning and career ecosystem supporting student success.
- Prize: US$50,000
The total prize value awarded to the top three winners was US$220,000.
NSIA’s Vision for the Future
Aminu Umar-Sadiq, Managing Director & Chief Executive of NSIA, emphasized the pivotal role of technology in driving positive socio-economic outcomes and expanding opportunities. He noted that the NSIA Prize for Innovation aims to nurture homegrown talent and position them for global relevance.
This year, the programme saw significant growth, with entries increasing from 2,000 to over 7,000. Additionally, the top ten innovators will receive a five-week, all-expenses-paid training at Draper University in Silicon Valley, USA, to help them expand their horizons and deliver solutions on global platforms.
NSIA’s Commitment to Innovation
The NSIA Prize for Innovation is part of the Authority’s multi-year commitment to support early-stage innovative businesses within the tech ecosystem. The programme involves a four-stage competition designed to catalyze investments in early-stage businesses.
