Africa is booming with technological start-ups and agritech in particular is a fast-growing sector. According to research by Microsoft and Africa Practice, the continent’s agritech growth is only set to boom from here on out.
“With a projected value of USD1 trillion by 2030, the continent is poised to become the global centre of agritech solutions and has also seen rapid growth in e-agriculture solutions,” Microsoft said. “With agriculture sustaining 70% of Africa’s livelihoods, Microsoft believes that agriculture is a key sector in Africa.”
Africa is quickly establishing itself as a worldwide leader in agritech. Between 2016 and 2019 the industry increased by 44% year-on-year, and the continent now boasts the biggest number of agritech services in the developing world, reaching over 33 million smallholder farmers.
That being said, here are a number of funds burgeoning agritech start-ups can utilise to get off the ground:
The TEF MENA Agri-Food-Tech Challenge 2022
The MENA Agri-Food-Tech Challenge is now open for submissions. TFF welcomes food system innovators from around the Middle East and Northern Africa (MENA) region to present their creative ideas.
The worldwide Thought For Food (TFF) Foundation, in cooperation with the Food for Future Summit, is hosting the TFF 2022 MENA Agri-Food-Tech Challenge.
The TFF 2022 MENA Challenge is open to any entrepreneurs in the MENA region that have a solution for a better, more sustainable and resilient food system. Applications are accepted at any level of development, including idea and prototype development, as well as post-seed financing.
“We’re on the hunt for the most forward-thinking individuals who can help us challenge the current quo. Please apply if this sounds like you!” the organisation said. It encourages entrepreneurs and teams working on solutions for all aspects of the food supply chain, including those working on:
- Supply chains that have been digitalized
- Urban agricultural systems that are fully automated
- New nutrient-dense foods
- Alternative proteins that are sustainable
- Small-scale regenerative agriculture
- Reducing food waste in a circular manner
A chance to win US$ 8 000 in the grand prize and US$ 4 000 in the runner-up prize. On the 23rd and 24th of February 2022, you will have the opportunity to attend the Food For Future Summit & Expo in Dubai.
Deadline: 6 February 2022
WFP IGNITE Food Systems Challenge Rwanda
Food insecurity in East Africa is escalating as a result of rising violence, climate change, natural catastrophes and the Covid-19 pandemic, according to the IGNITE Food Systems Challenge.
Technical assistance as well as a total of $300 000 in funding will be provided to assist start-ups, cooperatives, and small and medium companies in scaling up locally-driven solutions that contribute to the economy and fill various gaps in delivering nutritious food.
The programme is a collaboration between the UN World Food Programme (WFP) and Impact Hub Kigali, which provides resources such as incubation programmes and bootcamps to encourage innovation and entrepreneurship.
- Your entity must possess a valid registration/certificate of incorporation for operating in Rwanda
- Have proof of a revenue-generating business (total turnover in the case of cooperatives) of at least the equivalent of 5 000 USD for the year 2020 – 21
- Be a team of at least three full-time members dedicated to the SME/cooperative, including the founding team
- At least 50% of your founding and/or senior management team must be from Rwanda/East Africa
- The entity must have key operations in Rwanda
- Ventures that are women-led and/or have taken demonstrated action towards promoting women in their supply chain are especially encouraged to apply
Funding: Apply to receive up to $50 000 in equity-free funding.
6 months acceleration support: Benefit from technical support to strengthen your skills and address any gaps in your business, with a tailored made curriculum and direct connections to experts and mentors.
Networking and exposure: You will be able to tap into and leverage our strong network of public, private and government partners.
Deadline: 5 February 2022
SME 30 Challenge
SME 30 Challenge is a contest sponsored by Oga Campaign International that identify the best-performing SMEs in Nigeria, in order to assist them to grow into larger, more sustainable businesses. It is also to encourage their expansion into larger, internationally focused businesses. The key added value of the SME 30 Challenge is that the ultimate goal is for Nigeria to have growth-oriented, innovative, competent and sustainable businesses that can proudly fly the Nigerian flag.
“We at Ogacampaign want to nurture that passion for expansion and business excellence, and there is no better way to do that than by giving selected businesses a chance at expanding their business,” Oga Campaign said.
SMEs need to be nominated for consideration, this can be done by the company itself or by a third party via the nomination portal at www.ogacampaign.com.
Each category winner receives access to finance, business grant, access to markets, capacity development, and access to business information, media and marketing exposure
The overall winner goes home with N3 million naira cash prize.