L- R NPI 2.0 Winners; 2nd Prize Winners Kunda Kids, MD/CEO NSIA Aminu Umar-Sadiq, 1st Prize Babatunde Akin-Moses (Cascador Alumni), 3rd Prize Winners PAVE HQ
Cascador, a premier accelerator for mid-stage Nigerian entrepreneurs, and the Nigeria Sovereign Investment Authority (‘NSIA’ or ‘The Authority’) – one of the premier investment institutions of the Federation with a three-fold mandate to create a savings base for future generations of Nigerians and a catalyst towards positive socio-economic outcomes through strategic domestic infrastructure investments, providing fiscal support in times of economic distress – have formed a strategic partnership to drive innovation and support homegrown solutions with the potential for transformative impact.
This collaboration represents a major step in both organizations’ shared mission to accelerate sustainable economic growth, expand opportunities for Nigerian entrepreneurs and reposition them for global relevance.
By leveraging NSIA’s institutional expertise and Cascador’s track record of developing high-impact entrepreneurs, this partnership unlocks new opportunities for Nigerian business leaders tackling pressing societal challenges, said Dave DeLucia, Founder of Cascador.
NSIA remains committed to expanding economic opportunities and advancing innovation as a key component of National development. We believe that supporting high-potential entrepreneurs is pivotal to driving sustainable economic growth.
Correspondingly, our collaboration with Cascador aligns with our overall strategy to meaningfully create value in Nigeria, said Aminu Umar-Sadiq, Managing Director of NSIA.
Enhanced Opportunities for Entrepreneurs
The partnership comes as Cascador launches its $2 million annual Catalytic Fund designed to provide growth capital to alumni of its program, and follows NSIA’s launch of the third edition of the NSIA Prize for Innovation programme tailored to support early stage businesses within Agriculture, Healthcare and Education. NSIA’s involvement will further enhance the support available to promising entrepreneurs.
Applications for Cascador’s Catalytic Fund were open only to Cascador alumni who had completed the program. Cascador has produced six cohorts of mission driven entrepreneurs since 2019. The program will culminate in a Pitch Day Event on May 14, 2025, where finalists will present their ventures to a distinguished panel of judges and investors, including representatives from NSIA.
A $10,000 NSIA Prize for Innovation will be awarded at the event to the Cascador alumni whose business proposition best exemplifies the spirit of creativity and innovation that NSIA is fostering across Nigeria through the NSIA Prize for Innovation – an initiative focused on encouraging youth entrepreneurship through funding, mentorship, peer to peer knowledge exchange and high impact networking.
Cascador Supports the Third Edition of the NSIA Prize for Innovation (NPI 3.0).
The NSIA Prize for Innovation is a multi-year initiative dedicated to supporting early-stage businesses with the potential for transformative impact. The competition, which is currently open for applications until 5th April, 2025, aims to identify, build, and finance early-stage innovative solutions that have the potential to catalyze economic growth, enhance the nation’s productive capacity, and create jobs.
NPI 3.0 offers Nigerian innovators the opportunity to win:
A combined prize value of $220,000
Dedicated Cascador Prize for Impact valued at $45,000($15,000 to three winners) with winners selected by Cascador representatives at the award ceremony for NPI finalists
Five-week, all-expenses-paid training program in Silicon Valley, USA
Enhanced visibility for portfolio companies through joint promotional activities
Access to NSIA’s extensive network of partners and resources
This year’s focus sectors include Healthcare, Education, and Agriculture—areas critical to Nigeria’s development and aligned with both organizations’ impact objectives.
Trish Thomas, CEO of Cascador, discussed the financial incentives for entrepreneurs, saying,
Both Cascador and NSIA believe in the power of innovation to create an impact in Nigeria. We are sponsoring prizes in each competition to motivate finalists for the NSIA Prize for Innovation and the Cascador Catalytic Fund to focus on leveraging imagination and drive to solve tough challenges. Our intent is that these prizes accelerate efforts in the business community to make a positive impact on the world.
Cascador 2025 program applications open April 1st. To learn more about Cascador and to apply, visit here. Submissions for the NSIA Prize for Innovation close on April 5th. For more information and to apply, visit here.
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