Nigeria Sovereign Investment Authority has announced Sycamore the winner of the second edition of the NSIA Prize for Innovation (NPI 2.0), walking away with a combined prize value of $100,000.Sycamore is a peer-to-peer lending fintech platform which leverages technology to connect lenders and borrowers.
Also, Kunda Kids – an edtech media company focused on providing well illustrated engaging African inspired digital content to children, parents and libraries globally came second with $70,000.
PaveHQ, a learning and career ecosystem that support students to achieve a successful career came third with combined prize money of $50,000, bringing total combined prize value to $220,000.
This followed an assessment of pitches from 10 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.
Speaking at the recently concluded NPI Demo Day, Managing Director/Chief Executive, NSIA, Aminu Umar-Sadiq, said the competition 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 home-grown talent for global relevance.