The African Development Bank (AfDB) invites AgriTech startups from across the continent to enter its AgriPitch competition. If you are a startup founder in the agriculture industry, you may consider applying for this contest. If the AfDB selects your startup to participate, you’ll stand the chance of sharing from a total grant pool of $140,000.
The AgriPitch competition aims to enable AgriTech startups to become bankable and fashion a pitch that will attract investors. Participating startups will learn to build viable business models, structure their finances, assess market needs, and create realistic business plans. Agripreneurs who make it to the competition finale will meet investors at the AgriPitchDealRoom, and pitch their ventures for a chance to secure investments.
This competition’s organizers say it targets youth and women-led businesses in Africa’s agriculture space.
Startups that the AfDB selects to take part in its AgriPitch competition will benefit from it in these ways:
- Learn to develop products, identify revenue channels, take care of logistics, manage their business operations, secure financing, and prepare to be funded by investors—all in a two-week-long Development Bootcamp
- Receive virtual mentorship and coaching for six months and access useful resources (this comes after the Bootcamp)
- Pitch their startups to judges and investors in the AgriPitchDealRoom
- Gain access to a total grant pool of $140,000
This competition is open to startups that meet these criteria:
- Must be an AgriTech startup led by founders aged 18 to 35 years
- Applicant should be a founder or manager that owns at least 25% of the business
- Early-stage startups (0-3 years) should have a proof of concept or well-defined prototype
- Startups older than three years must be duly registered in their country of origin, have their product or service already in the market, and must have gained market traction
- Women-led businesses founded by a woman or 51% owned by women are encouraged to apply
The deadline for entry into this competition is November 4, 2022.
Featured Image Source: African Development Bank
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