Two Nigerian startups, RiceAfrika Technologies and Wicrypt, each won $150,000 at LEAP’s Rocket Fuel pitch competition in Riyadh, Saudi Arabia, bringing the total prize money to $300,000. According to a statement from the Ministry of Communications and Digital Economy, RiceAfrika Technologies is a tech‑driven agricultural optimisation startup that deploys IoT solutions, and it was named the global best in the “Tech for Humanity” award category. Wicrypt, an innovative tech startup focused on decentralising the Internet globally, was announced as the global best in the “Into New World” award category.
The competition attracted more than 10,000 applications from various countries. Of these, 220 were shortlisted, and only 90 startups were selected to pitch their business ideas in the semi‑final round. Eight Nigerian startups participated in the semi‑final, and three advanced to the final stage, with RiceAfrika Technologies and Wicrypt emerging as the winners.
Minister of Communications and Digital Economy Isa Pantami expressed pride in the achievements, stating, “I am so proud of our startups who emerged as the global best in these categories. It is quite a long journey that followed a rigorous process—from over 10,000 applications to the final 12, in which three Nigerians took part and two emerged winners. We are delighted that our startups are not only amazing but have undergone extensive nurturing and mentorship to become the best in the world.” He added that Nigeria is on the right track in implementing its National Digital Economy Policy and Strategies, ensuring that Nigerian startups add value to the global tech ecosystem.
Pantami highlighted that the eight Nigerian entries competed with over 90 startups in the semi‑finals, showcasing innovative ideas that can transform economies and address critical global issues. He noted that the participants not only pitched for grants but also attended knowledge‑sharing sessions, conferences, and investor meetings, exposing them to various ways to accelerate their products for optimal market fit. The startups engaged with top mentors, angel investors, and venture capitalists worldwide.
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