This is a huge chance for agritech startups across Nigeria. The FCMB-Wennovation Agritech Incubation Programme, in conjunction with Wennovation Hub, has launched a bid to guide early-stage AgriTech Start-ups across Nigeria so that they can test and validate their ideas as well as gather their first set of customers or pivot if need be.
This will be done through a combination of financial support, guidance, and training. The secondary objective is to prepare these start-ups for acceleration.
Here Is All You Need To Know
The goal of the 2019 incubation is to:
- Expose 10 teams across Nigeria to the root of the pre-defined problem statement by merging an in-depth problem definition strategy with an immersion process.
- Support at least top 10 teams with a demonstrable Minimum Viable Product to build a sustainable business model by taking them through a design thinking workshop and subsequently a 3 weeks incubation program.
- Support at least tops 2 Agritech startups in Nigeria with seed investments and grants.
- Offer access to experienced mentors and a cohort structure that encourages peer learning and support.
- Provide opportunities to connect with potential customers and investors.
What Are Expected of Prospective Applicants
- Applications should focus on four problem statements, namely Input, Production, Processing and Storage, and Marketing and Sales, with Wennovation Hub looking for MVP-stage startups with some form of market validation.
- The programme commences with a one-week immersion component where selected startups get to interact with community members through Wennovation Hub immersion partners. Startups who successfully complete the immersion programme and the required reporting commitments will be invited to a two-week Bootcamp in Lagos.
- It all concludes with a demo day in September, with all successful startups to be taken into a six-month post-Bootcamp aftercare programme
At the end of calls for application, 10 Agritech start-ups will be selected for the incubation program.
The program will be concluded with a pitching competition at the demo day where 2 Agritech startups will win a total of N3million in Grants.
To apply, click here
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.