New Telegraph

NSIA plans to develop Nigeria’s digital ecosystems

In a bid to make have Nigeria a robust presence in innovation and emerging technologies in Africa and beyond, the Board and Management of the Nigeria Sovereign Investment Authority (NSIA), has disclosed that the established NSIA Innovation Fund valued at $25 million was meant to catalyze the growth and development of the Nigerian technology ecosystem by identifying aspiring technopreneurs and innovators, and providing them with a platform to showcase Nigerian technological solutions globally.

The Non-Executive Director of the NSIA and Chairman, NSIA Innovation Prize& Investment Committee, NSIA, Mr. Ikemefuna Louis Isiekwena, made this known in his opening remarks during the launching of the NSIA Prize for Innovation in Lagos yesterday.

He explained that with the NSIA Innovation Prize, the NSIA plans to contribute significantly towards cultivating a pipeline of investible companies in the country.
Isiekwena said, “To expand our presence in innovation and emerging technologies and replicate the success achieved in our other focus sectors, we established the NSIA Innovation Fund (“the Fund”) with $25 million of our own capital.

Recognizing the need to make projects in the digital economy bankable, NSIA has created the prize for innovation as a platform to educate, train and reposition local technopreneurs for bankability.

“The Prize is expected to catalyze the growth and development of the Nigerian technology ecosystem over time by identifying aspiring technopreneurs and innovators, developing their skills, and providing them with a platform to showcase Nigerian technological solutions globally. “This goal will be achieved in partnership with key operators and stakeholders within the digital ecosystem, a subset of which is heavily represented in the audience today.”

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