Lagos, Nigeria – March 24, 2025: Cascador , the leading accelerator for established Nigerian entrepreneurs, and the Nigeria Sovereign Investment Authority ('NSIA' or 'The Authority') — which serves as Nigeria’s leading investment agency tasked with establishing a savings foundation for future citizens, fostering beneficial social and economic changes via key local infrastructural projects, and offering financial assistance during economic crises — has entered into a strategic alliance aimed at promoting innovation and endorsing locally developed solutions capable of significant societal transformation. This joint effort marks an important advancement toward achieving their common objective: boosting sustainable economic development, increasing prospects for Nigerian business owners, and positioning them for international prominence.

"Through harnessing NSIA's institutional knowledge and Cascador's history of fostering successful entrepreneurs, this collaboration opens up fresh possibilities for Nigerian business leaders addressing critical social issues," stated Dave DeLucia , Founder of Cascador.

NSIA continues to be dedicated to broadening economic prospects and fostering innovation as an essential part of national progress. We feel that backing ambitious entrepreneurs is crucial for sustaining economic expansion. Thus, our partnership with Cascador supports our overarching plan to significantly generate value within Nigeria, Aminu Umar-Sadiq , who serves as the Managing Director of NSIA.

Enhanced Opportunities for Entrepreneurs

As Cascador introduces its $2 million yearly Catalytic Fund aimed at offering expansion funding to graduates from its initiative, this collaboration emerges. This move follows the announcement of the third iteration of the NSIA Prize for Innovation program, which supports nascent enterprises in sectors such as Agriculture, Healthcare, and Education. The participation of NSIA will bolster the assistance provided to budding business leaders.

Applications for Cascador’s Catalytic Fund were available exclusively to Cascador alumni who had finished the program. Since 2019, Cascador has graduated six cohorts of mission-driven entrepreneurs. The program is set to conclude with an event. Pitch Day Event on May 14, 2025 Where finalists will showcase their business projects to an esteemed group of judges and investors, featuring members from NSIA.

A $10,000 NSIA Award for Innovation The award will be presented during the ceremony to a Cascador alumnus whose business idea most closely represents the spirit of creativity and innovation that NSIA is promoting throughout Nigeria. NSIA Prize for Innovation - An effort aimed at promoting young entrepreneurships via financial support, guidance from mentors, shared learning among peers, and significant networking opportunities.

Cascador Backs the Third Edition of the NSIA Innovator Award (NPI 3.0).

The NSIA Prize for Innovation is a long-term program aimed at backing start-up companies that have the potential for significant disruption. The contest, which is Currently accepting applications up till 5 ^th April, 2025 Aims to recognize, develop, and fund emerging innovative projects that hold the potential to stimulate economic expansion, boost the country’s productivity, and generate employment opportunities.

NPI 3.0 provides Nigerian innovators with the chance to emerge victorious:

• The total prize money adds up to $220,000.
• Dedicated The Cascador Award for Impact has a value of $45,000. with the winners chosen by Cascador representatives during the awards ceremony for the NPI finalists
• Five-week, all-expenses-paid training program in Silicon Valley, USA
• Increased exposure for portfolio firms via collaborative marketing efforts
• Access to NSIA’s broad network of collaborators and assets

The key areas of concentration this year encompass Healthcare, Education, and Agriculture—which are vital for Nigeria’s progress and align with the goals of both organizations aimed at driving impactful change.

Trish Thomas, the CEO of Cascador, talked about the financial motivations for entrepreneurs, stating, "Cascador along with NSIA share the belief in how innovation can effect change in Nigeria. As sponsors, we offer awards in every contest aimed at encouraging participants competing for both the NSIA Innovator Award and the Cascador Catalyst Fund. The objective behind this support is to inspire them to use their creativity and determination to tackle complex issues. It’s our hope that these rewards will spur increased activity within the entrepreneurial sphere, contributing positively towards global advancement."

The Cascador 2025 program applications will be available starting from April 1st. To find out more information about Cascador and to submit your application, please visit www.cascador.org .

Entries for the NSIA Innovation Award will be accepted until April 5th. To learn more and to apply, please go to http://nsia-ip.com/ .

About Cascador

Cascador is a yearly comprehensive initiative aimed at nurturing middle-phase Nigerian business owners who are expanding socially impactful enterprises. This distinctive program combines learning, guidance from mentors, and tailored assistance to equip these entrepreneurs with the tools they need to create meaningful change via employment generation, innovative solutions, and openings for disadvantaged groups. Launched in 2019, Cascador participants have cumulatively secured more than $55 million USD in funding and continue to drive significant improvements within their localities. For further details, visit their website. cascador.org .

About NSIA

The Nigeria Sovereign Investment Authority serves as an investment entity within the Federal Republic of Nigeria. It was founded based on the provisions of the Nigeria Sovereign Wealth Act from 2011 with the purpose of overseeing and investing in a varied selection of medium- and long-term financial resources. The organization aims to be at the forefront of fostering continuous economic growth benefiting every citizen of Nigeria. This includes establishing a savings fund for the populace, promoting the advancement of critical national infrastructures, and offering stabilizing assistance during periods of economic hardship.

The NSIA manages three separate funds: the Stabilization Fund, the Future Generations Fund, and the Nigeria Infrastructure Fund. For additional details, kindly visit. www.nsia.com.ng

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