Summary — Farmz2U, ColdHubs, Farmspeak, TradeBuza, AgroHive & Beatdrone have been selected for the final of the event. They will pitch to an impressive line-up of judges on Demo Day (August 28th 2020) for a chance to be among the winners and receive a share of the seed grant of ₦1.5 million as well as access to workspace and networks for innovation and collaboration through Hub One.
Lagos, Nigeria — First City Monument Bank (FCMB) is one of the biggest financial players in the development of Nigeria’s agriculture sector. Through its Agritech initiative, the bank supports early to growth-stage entrepreneurs to grow and scale their Agritech businesses.
The 3rd edition of the Agritech initiative is being organized in partnership with the bank’s long term partner
“We are passionate about supporting Nigeria’s tech ecosystem and this initiative is one of the ways through which we are building and accelerating the growth of the Agritech Startups in Nigeria, as well as the larger African continent…,” said Rolayo Akhigbe, Divisional Head, Transaction Banking at FCMB
Kudzai Gumunyu, Divisional Head, Agric Business at FCMB added: “This initiative plays an important role in helping young and driven Nigerian entrepreneurs grow their Agric-focused business. This mission would eventually build investible, sustainable and scalable AgriTech businesses that can contribute to the nation’s employment rate as well as the growth of the nation’s GDP”.
The program is focused on the following Agriculture value chain solutions;
- Agricultural Finance
- Agricultural Marketing
- Supply chain
The application phase lasted 3 weeks and saw close to 2,000 Agritech startups from over 16 countries around the world apply, making it the largest number of applications received since the inception of the program.
After a transparent selection process by the bank’s Agric Desk, 10 startups — ColdHubs, Pricepally, Beat Drone, Solaristique Nigeria, Ecotutu, eVet Africa, Farmz2U, Tradebuza, AgroHive and Farmspeak Technology — made it to semifinals of the program, which lasted 2 days and saw the startups pitch to an array of impressive judges, who not only selected the finalists but also provided valuable feedback and advice.
Meet the finalists:
- Farmz2U: helping farmers farm better with tailored agricultural expertise using data and market access via system integrations.
- Beat Drone: implements drone input on the farm production process such as spraying precise chemicals, crop health assessment and farmland mapping.
- ColdHubs: designs, installs, commissions and operates 100% solar-powered walk-in cold rooms branded as “ColdHubs”, in markets and farm clusters. The Hubs are used by smallholder farmers, retailers and wholesalers, to store and preserve fresh fruits, vegetables and other perishable foods 24/7, extending their shelf life from 2 days to 21 days.
- Tradebuza: digitizes commodities sourcing and trade for large agribusinesses who run out-grower schemes. We digitize their last-mile operations, including digitization of their smallholder and farmland profiles, farm activities and post-harvest ops tracking.
- Farmspeak Technology: focuses on manufacturing IoT-powered hardware devices that work with a web and mobile application using Artificial Intelligence(AI) to diagnose poultry diseases, monitor and regulate the poultry environment to help smallholder poultry farmer in Nigeria improve their farm management, reduce wastage and mortality, thereby increasing profitability in poultry farming.
- AgroHive: Africa’s first Agricultural HR startup deploying ICT in assisting over 1,000 agribusinesses tackle 1 of their biggest challenges, which is to have easy access to a consistent supply of skilled agricultural staff that will increase agribusiness productivity and profitability.
On Demo Day i.e. August 28th, the finalists will pitch to