Agritech startups in Africa are invited to apply to FarmCrew’s innovation fund which plans to award 10 African founded agritech startups to the tune of $50,000. FarmCrew Innovation Fund (FCIF) was created to support agritech startups by funding ideas and innovative solutions that improve agriculture in Nigeria and Africa.
Here Is What You Need To Know
- FCIF aims to connect entrepreneurs to related agritech networks and create opportunities for investment.
- FarmCrew is in search of agritech startups with cutting-edge innovative(this word was used several times, try to source synonyms for innovative) ideas and solutions to positively impact the agriculture industry in Africa. After evaluating the concept, technology, scale-up, strength, and potential investment in the business, 10 successful agritech startups will be awarded a $50 000 investment fund and mentorship.
- Complete online application form
- If accepted, applicants will receive an email detailing the defense of their startup’s solution and the format of a pitch document and proposal.
- If selected to move forward to the next step, applicants will undergo an interview, where they will pitch their concept and proposal.
- Experts in finance, technology, and agriculture will assess solutions with FarmCrew and choose 10 agritech startups to receive mentorship.
- FarmCrew will provide effective resources, access to mentors, and training sessions for successful startups.
- $50 000 will be invested in all selected 10 AgricTech startups.
Read also: The Power & Electricity World Africa 2020
What Are Expected Of Startups?
- FarmCrew is inviting innovative entrepreneurs in the agritech startup scene to apply for FCIF if their aim is resource-friendly and sustainable agriculture.
- If an agritech startup has software, hardware, fintech, or general agribusiness solution, you will be considered for the FCIF.
- Agritech startups applying must specify which agriculture sector they are interested in, such as; farming, livestock, aquaculture, or agro-forestry.
- In addition, applicants must share what area of business solutions the startup will focus on in terms of production, storage, processing, or transportation, aggregator, pre/post-market, or upstream and downstream.
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“Entrepreneurs have to learn the power of networking and the value of mentorship, as these are the things that most entrepreneurs take for granted. And also they must know that opportunities will not come to them; they have to go out there and create them by knocking on corporate doors with proposals. Personally, I am where I am because of a business mentor who changed the way I see things.”
– Anda Maqanda, founder of AM Group in South Africa