Cascador and the Nigeria Sovereign Investment Authority (NSIA) have formed a strategic partnership to drive innovation and support homegrown solutions with the potential for transformative impact.
According to a statement, the partnership will enable them build positive socio-economic outcomes through strategic domestic infrastructure investments and provide fiscal support in times of economic distress.
The partnership comes as Cascador launches its $2 million annual Catalytic Fund designed to provide growth capital to alumni of its programme, 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.
This year's focus sectors include Healthcare, Education, and Agriculture--areas critical to Nigeria's development and aligned with both organizations' impact objectives.
Commenting, Founder of Cascador, Dave DeLucia, said: "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."
Also commenting, Managing Director, NSIA, Aminu Umar-Sadiq said:"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."
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Similarly, CEO of Cascador, Trish Thomas, said: "Dedicated Cascador Prize for Impact valued at $45,000 with winners selected by Cascador representatives at the award ceremony for NPI finalists."
"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."
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. Others include 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.
The Cascador 2025 programme applications opens on April 1 and submissions for the NSIA Prize for Innovation closes on April 5.
