Agrominds Africa Challenge 2020. Apply now to receive up to $150,000 in seed or growth capital if you have an innovative idea or existing agribusiness operating across the agribusiness value chain in Africa.
Eligibility Criteria
Your Agribusiness lifecycle should be at the Idea, Early or Growth/Expansion Phase
Minimum Annual Revenue of your Agribusiness
Idea Stage Agribusiness:
- None or less than $20,000 (Minimum Annual Revenue of your Agribusiness)
- You are seeking capital to invest in an agribusiness strategy, idea, product or plan is not officially in existence
- You have piloted and tested your idea and might be generating some revenue
Early Stage Agribusiness
- $20,000 – $100,000 (Minimum Annual Revenue of your Agribusiness)
- Potential to generate positive EBITDA or already profitable
- Limited Liability Company
- You are seeking capital to invest in the development of your agribusiness product, formalizing customer acquisition strategies, operational and other related activities
- Your revenue stream is inconsistent
Growth Stage Agribusiness
- $100,000 – $500,000 (Minimum Annual Revenue of your Agribusiness)
- Already profitable
- Limited Liability Company
- You are seeking expansion capital because your agribusiness is generating consistent source of income
- Your profits are improving slowly and steadily
2. Your Agribusiness should be operating within the following thematic agribusiness areas
- Agricultural inputs including Seeds, Fertilizers & Crop protection
- Primary Production /Farming
- Agroprocessing & Manufacturing
- Agricultural Product Wholesale
- Agricultural Product Expert Retailers
- Food Logistics & Transportation
- Digital Farming/Agritech
- Agricultural Financing
- Agricultural Service Providers – management consulting, legal, marketing, accounting, extension
3. The proposed Agribusiness or idea must operate in Africa and Applicants must be legal residents of any one of the 54 African countries.
Application
- Timeline: (Due to recent COVID-19 Pandemic) Submission Deadline Extended
- Participation will be limited to citizens of African states with due consideration given to geographically-even representation.
- Only proposals designed for agriculture on the African continent will be eligible for consideration.
The first edition of the competition will be designed for Idea, Early and Growth Stage agribusinesses with an:
a. Ability to improve food security, create employment and boost local incomes
b. Ability to demonstrate potential for post revenue business model
c. Ability to demonstrate for market traction
Benefits and Opportunities
To Participants :
- Receive technical guidance and coaching in order to achieve investment readiness
- Secure equity financing to launch, grow or expand their agribusinesses
- Provide market visibility of their business models to attract more investment capital
- Provide market visibility of their agribusiness models to enhance or generate market traction for their products or innovation
To Investors
- Provide access to a large and competitive pool of agro-smart investment ready agribusinesses and agro-startups with strong potential to grow and scale
- Fostering access, exposure and strategic interactions with a growing, thriving and diverse network of investors and agribusiness stakeholders and practitioners
- Improve the business/personal brand of the investor through the competition’s social media platforms and channels
To Agricultural Ecosystem
- To raise the interests and participation of our youth in Agriculture across the continent
- Unlocking resources and young agropreneurial talent for Africa’s emerging agro-startup ecosystems to begin to build innovative and professional agro companies and commercial ventures across the value chain
- Driving local value addition through investments that foster value chain enhancement
To the Larger Economy
- The challenge intends to support agribusinesses with potential to:
- Transform Africa into a dominant agribusiness center on the global stage leveraging strongly on its established agribusiness potential
- Accelerate structural transformation process and drive economic development
For Application and more information: Visit the official webpage of Agrominds Africa Challenge 2020