ABUJA – The Nigeria Sovereign Investment Authority has announced winners of the fourth edition of its Prize for Innovation, with Come Again Foods emerging as overall winner from over 6,000 applications.

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‎Come Again Foods, which makes packaged snacks from locally sourced farm produce, won $100,000 from NSIA plus $5,000 Cascador Impact Award, bringing its total prize to $105,000. Protein Kapital, which produces protein and biofertiliser through insect farming and organic waste processing, came second with $70,000, while InstantRad Inc., an AI-enabled teleradiology platform that connects hospitals with radiologists across Africa, placed third with $50,000.

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‎The winners were unveiled at the NPI 4.0 Demo Day in Abuja themed Building for Impact, where 12 finalists pitched before judges from Nigeria’s business and investment community. This year focused on manufacturing, climate and food security, and healthcare.

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‎The competition offered $275,000 in total prizes, made up of $220,000 from NSIA, $45,000 from Cascador and $10,000 from Wema Bank. Eight Medical and Uwana Energy each received $15,000 Cascador cash prizes, while Sambal Enterprises, Come Again Foods and Ebees Green got $5,000 each as Impact Awards. Eight Medical, Smartei Agri Tech and Tryctor also got $4,000 each from Wema Bank.

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‎Speaking at the event, NSIA Managing Director Aminu Umar-Sadiq said the quality of pitches reflects the depth of talent in Nigeria. He said through the prize, NSIA is creating pathways for entrepreneurs to access capital, capabilities and networks to build sustainable businesses.

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‎Beyond cash, eligible winners will get chance for financing of up to $1.5 million through the Pula Xcelerator programme and a six-week, all-expenses-paid entrepreneurship programme at the Enterprise Development Centre in Lagos. NSIA said the programme has attracted over 20,000 applications in four editions.

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‎Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, represented by his Special Assistant on Investment, said SMEs are the backbone of the economy and sustain millions of livelihoods. He said government’s trillion-dollar economy ambition depends on helping small businesses grow into large, globally competitive firms.

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‎Oyedele said government is addressing business growth barriers through the Development Bank of Nigeria, National Credit Guarantee Company and Nigerian Consumer Credit Corporation, and through venture capital support. He said programmes like NSIA Prize for Innovation help entrepreneurs validate ideas and connect with investors.

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‎The National Coordinator of the Presidential Initiative for Unlocking the Healthcare Value Chain, Dr Abdu Mukhtar, said Nigeria’s healthcare value chain offers about $20 billion market opportunity in pharmaceuticals, medical devices, telemedicine and research. He urged entrepreneurs to see every challenge as an opportunity.

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‎Cascador founder Dave DeLucia said training and funding are key to making startups investment-ready and able to scale. Organisers said the event shows growing role of innovation-driven businesses in solving Nigeria’s development challenges.