NPI 2.0: NSIA shortlists Ten start-ups
By Patience Ikpeme
After a week long accelerated programme, the Nigerian Sovereign Investment Authority has shortlisted the top ten start-ups that will move to the Demo Day of Prize for Innovation (NPI 2.0)
These top ten were shortlisted out of 25 innovators who pitched their solutions to a panel of business and technology leaders during the week long accelerator programme ( physical bootcamp).
Some of the basis for the selection of the top ten include; scalability, product-to-market fit, financial projections, unique value proposition, competitor analysis and target among others , these businesses were drawn from multiple sectors of the economy .
Those shortlisted include: Yalo Technologies, BetaLife Health, Magic Carpet Studios, MaterialsPro, Doktorconnect, PaveHQ, VPay Africa, TribaPay, Kunda Kids and Sycamore.
These innovators will compete for a combined prize value of US$220,000 on Demo Day and participate in a five-week, all-expense paid training at Draper University, Silicon Valley USA.
The Managing Director and Chief Executive Officer, Aminu Umar-Sadiq expressed his delight at the growing acceptance of the NPI programme in the Nigerian technology eco-system.
“The Authority recognises the pivotal role that technology plays to propel positive socio-economic outcomes, hence our commitment to expand the development of this sector. Through the NPI, we remain focused on advancing innovative solutions to domestic challenges, capacity building for early-stage businesses and economic empowerment through job creation”.
The NPI is the NSIA’s strategic initiative to identify, nurture and build early-stage businesses for transformative impact. Now in its second year, it has rapidly gained acceptance within the technology and start-up eco-system as more credible and eligible Nigerian innovators shown significant interest in it.
The call for application stage in the first quarter of the year, had over 7,000 applications. This was pruned down to 100 businesses at virtual accelerator stage and further reduced to 26 businesses for the physical bootcamp.
The focus of this competition is to improve the Nigerian technology eco-system and aligns with the Authority’s mandate to catalyse economic development in Nigeria.
