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.
Application process
- 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.
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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.
Applications for the FarmCrew Innovation Fund close on 31 October 2020.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer