FarmCrew Innovation Fund (FCIF), a multinational financier that plays majorly within the agriculture sector by assisting agri-tech startups fund their ideas and innovative solutions has offered 10 African agri-tech startups an opportunity to receive a $50,000 investment fund.
This innovation fund will afford the entrepreneurs within the continent’s agri-tech sector a chance to expand and stabilize their business venture as well as improve agriculture within their country and on the African continent at large.
This scheme is also geared towards connecting entrepreneurs to their related agri-tech networks and to also create further opportunities for investment in line with the body’s primary target.
This has to do with setting its sight on agri-tech startups with cutting-edge progressive ideas and solutions to positively impact the agriculture industry in Africa.
After assessing proposed ideas, technology, scale-up, strength, and potential investment in the business, 10 successful agri-tech startups will be picked and awarded a $50,000 investment fund and mentorship.
Application process
- Complete online application form on FarmCrew’s website
- Once accepted, applicants will receive an email outlining the defense of their startup’s solutions as well as the acceptable format of a pitch document and proposal.
- If selected to proceed to the next phase, applicants will undergo an interview, where they will pitch their concept and proposal.
- Finance, technology, and agriculture experts will be called on to review solutions with FarmCrew and make a selection of 10 agri-tech startups to receive mentoring.
- FarmCrew will provide required resources, access to mentors, and training sessions for the successful startups.
- A sum of $50,000 will be invested in all 10 chosen startups.
Requirements
- For entrepreneurs in the agri-tech startup domain to apply for FCIF, they not only need to be innovative but also aim to practice resource-friendly and sustainable agriculture.
- An agri-tech startup that has software, hardware, fintech, or general agribusiness solutions, will be considered for the FCIF.
- Any agri-tech startup applying must indicate which agricultural sector it is interested in, such as; farming, livestock, aquaculture, or agro-forestry.
- Moreover, applicants must specify the area of business their startup will concentrate on in terms of production, storage, processing, or transportation, aggregation, pre or post-market, or upstream and downstream.
Applications for the FarmCrew Innovation Fund is set to close on Saturday, October 31, 2020
Featured Image: theindianwire
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