The Nigeria Sovereign Investment Authority, NSIA has announced Sycamore the winner of the second edition of the NSIA Prize for Innovation (NPI 2.0).
This followed an assessment of pitches from ten innovators to an expert panel of judges drawn from the business and technology eco-system. The evaluation was based on key metrics including market potential, team composition, traction and competitiveness of the solution proposed.
Sycamore, led by Babatunde Akin-Moses is a peer-to-peer lending fintech platform which leverages technology to connect lenders and borrowers. Sycamore won a combined prize value of $100,000.
Kunda Kids – an edtech media company focused on providing well illustrated engaging 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 support students to achieve a successful career came third with a total combined prize value of $50,000, bringing total combined prize value to $220,000.
While speaking at the recently concluded NPI Demo Day, Aminu Umar-Sadiq, Managing Director & Chief Executive of NSIA shared that ‘the NSIA Prize for Innovation was conceptualised 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.
Now in its second year, it has so far received commendable attention from the tech eco-system as the registration of credible start-ups across Nigeria to join the programme has grown from 2,000 to over 7,000 entries within the current year.