NSIA, JICA Unveil $50m Innovation Fund To Empower Startups

The Nigeria Sovereign Investment Authority (NSIA) and Japan International Cooperation Agency (JICA) have finalised agreements to launch a $50 million impact innovation fund aimed at strengthening the Nigerian start-up ecosystem.

The fund is expected to provide patient capital to pre-seed, seed, and early-stage startups addressing critical social challenges in sectors such as agriculture, healthcare, education, energy, waste & water management.

JICA will provide $14 million in grant support, while NSIA contributes up to $20 million to match the grant.

Structured as an onshore public fund, the initiative combines financial support with technical assistance to help startups refine products, scale operations, and expand into new markets. The fund is expected to create jobs, improve livelihoods, and contribute to sustainable economic development across Nigeria.

Speaking at the agreement signing ceremony between NSIA and JICA at the Ministry of Budget and Economic Planning, Aminu Umar-Sadiq, Managing Director and CEO of NSIA, said: “The Fund represents a transformative step for Nigeria’s startup ecosystem. By providing early-stage ventures in high-impact sectors with the capital and support they need to grow, we are enabling innovators to tackle some of Nigeria’s most pressing challenges. Our collaboration with JICA underscores our commitment to entrepreneurship, inclusive growth, and sustainable development.”

Preparations are underway to operationalise the Fund and develop a pipeline of high-impact startups ready for investment. NSIA remains committed to advancing socio-economic development through strategic partnerships that scale impact, expand innovative solutions, and unlock access to capital.

On his part, the Japanese Ambassador to Nigeria, Suzuki Hideo, said, “The Government of Japan hopes this new project will take root in Nigeria and bear fruit swiftly.”