The Nigeria Sovereign Investment Authority (NSIA) has announced Sycamore as the winner of the second edition of the NSIA Prize for Innovation (NPI 2.0).
In a statement yesterday, NSIA said the announcement followed an assessment of pitches from 10 innovators to an expert panel of judges drawn from the business and technology ecosystems with the evaluation based on key metrics, including market potential, team composition, traction and competitiveness of the solution proposed.
“Sycamore, led by Babatunde Akin-Moses, is a peer-to-peer lending fintech platform which leverages technology to connect lenders and borrowers.
“Founded in 2019, Sycamore primarily exists to empower African businesses and propel economic growth by bridging the credit gap with technology. Sycamore won a combined prize value of $100,000.
“Kunda Kids – an edtech media company focused on providing well-illustrated engaging African-inspired digital content to children, parents and libraries globally – followed closely in the second position with a combined prize value of $70,000.
“aveHQ, a learning and career ecosystem that supports students to achieve a successful careers, came third with a total combined prize value of $50,000, bringing the total combined prize value to $220,000,” the statement said.
While speaking at the recently concluded NPI Demo Day, Aminu Umar-Sadiq, Managing Director and Chief Executive of NSIA, said, “The NSIA Prize for Innovation 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 reposition home-grown talent for global relevance.”
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