The agriculture sector in Nigeria and the bigger African continent faces quite a few challenges together with local weather and climate, rural-urban migration, lack of information and restricted entry to funding. Whereas options to handle these challenges have elevated yr on yr with nice success, extra nonetheless needs to be completed earlier than Africa can fulfil its potential of being the “meals basket for the world”.
First Metropolis Monument Financial institution (FCMB), one of many greatest monetary gamers within the improvement of Nigeria’s agriculture sector, has introduced the 2020 version of the FCMB Agritech Epic Pitch, by which it plans to maintain funding for early to growth-stage entrepreneurs to develop and scale their Agritech companies.
In its third 12 months, the FCMB Agritech Epic Pitch 2020 can be carried out by Hub One (the Financial institution’s tech Hub situated in Lagos, Nigeria) in partnership with Ardour Incubator, a Lagos-based early-stage tech incubator and accelerator. For this version, FCMB can be offering grant funding of NGN1.5million to 2 tech start-ups within the agriculture sector to assist their enterprise development in addition to entry to free word-class workspace, regular market and a sturdy community that stimulates innovation, collaboration and enterprise development.
In view of the COVID-19 pandemic, the FCMB Agritech Epic Pitch 2020 is the primary digital version of the initiative, however is positioned to ship the identical worth to contributors, as demonstrated in earlier editions. In line with Rolayo Akhigbe, Divisional Head, Transaction Banking, FCMB“We’re captivated with supporting Nigeria’s tech ecosystem and this initiative is among the methods by which we’re constructing and accelerating the expansion of the Agritech Startups in Nigeria, in addition to the bigger African continent…”
Additionally in line with Kudzai Gumunyu, Divisional Head, Agric Enterprise “This initiative performs an necessary function in serving to younger and pushed Nigerian entrepreneurs develop their Agric-focused enterprise. This mission would finally construct investible, sustainable and scalable AgriTech companies that may contribute to the nation’s employment charge in addition to the expansion of the nation’s GDP”.
Utility for this system is presently open. Entrepreneurs within the Agritech house ought to apply by visiting https://on.fcmb.com/AEP. The deadline for utility is July 24, 2020.
This system may also function a digital convention with the theme “Redefining and repositioning Agricultural worth chains throughout and submit the COVID-19 period”, which can carry collectively some international specialists to debate and share some insights on the Agricultural worth chains.
For extra details about Hub One, in addition to different FCMB initiatives in assist of the tech ecosystem, go to https://www.fcmb.com/hub-one/