Passion Incubator and the First City Monument Bank (FCMB) are providing early to growth-stage entrepreneurs with prerequisite resources to grow and scale their Agritech businesses.
The two have announced a virtual program that will support Agritech businesses in Africa with seed investment, access to workspace, market and network that stimulates innovation, collaboration and business growth. Due to the coronavirus pandemic, this year’s edition would be a virtual engagement.
“This initiative is geared towards building and accelerating the growth of the Agritech Startups in Africa and also helps young and self-driven Nigerian entrepreneurs grow their business. This mission would eventually build investible, sustainable and scalable businesses that can contribute to the nation’s employment rate as well as the growth of the nation’s GDP”.
The bank will invest N1.5 million into two successful startups from this program. The program is focused on the following Agriculture value chain solutions;
- Agricultural Finance
- Agricultural Marketing
- Supply chain
Apart from the N1.5 million set to support the top 2 startups in the program. Other benefits include mentor support, access to workspace, market and networks that stimulate innovation, collaboration and business growth.
The entrepreneurs would also have access to the Passion Incubator’s resources, partner organization support and business development services.
Application for the program is currently open. Entrepreneurs in the Agritech space should apply by visiting bit.ly/fcmbaep. The deadline is July 24th.
Passion Incubator is a Lagos-based early-stage incubator and accelerator that has invested in some Agritech startups, to launch the virtual edition of the FCMB Agritech EPIC PITCH 2020 to continue its support of Agritech businesses in Africa.