Site logo

24 Receive Seed Funding from AgriTech Challenge

Twenty-four startups from universities across Ghana have received seed funding through the AgriTech Challenge Pro, a flagship program organized by the Kosmos Innovation Centre (KIC) and the Mastercard Foundation. This initiative aims to scale up agricultural businesses and foster interest in agriculture among students and young graduates.

PAY ATTENTION: Agribusiness Boom in Ghana: What You Should Know

The AgriTech Challenge Pro

The AgriTech Challenge Pro selected finalists from a shortlist of 35 teams that presented innovative business ideas in product and service delivery, sustainable production, technological applications, value addition, and eco-friendly packaging. These ideas are designed to enhance environmental responsibility and minimize the impact of agricultural activities.

Funding Details

Several startups received significant seed funding to develop their business ideas:

  • McHan Cosmetics from Kwame Nkrumah University of Science & Technology, and YARP Foods from the University of Energy and Natural Resources, each received $35,000.
  • 3 Farmate Robotics (University of Ghana), Green Husk Innovations (University for Development Studies), and Sunify Solardry Technology (University for Development Studies) each received $30,000.
  • $20,000 was awarded to DEECOM Nutrifoods (Kwame Nkrumah University of Science and Technology), Hullsnovation (University for Development Studies), Sunray (University for Business and Integrated Development Studies), Tekcycle (Kwame Nkrumah University of Science and Technology), FEEP Fibertech (University of Energy and Natural Resources), and Harvest Ease Innovations (University of Energy and Natural Resources).
  • Agro KiniSols (Bolgatanga Technical University) and FreshLine Post-Harvest Solutions (Kwame Nkrumah University of Science and Technology) each received $15,000.
  • $10,000 was awarded to startups including Aretha Forson (Takoradi Technical University), Bunny Bites (Kwame Nkrumah University of Science and Technology), Cas-Tech (Takoradi Technical University), DeliMush (University for Development Studies), Ghana Fert (Kwame Nkrumah University of Science and Technology), GreenHeart SE (Koforidua Technical University), Healthy Farmer (University for Development Studies), PaCo Paper (Koforidua Technical University), Rabitton (University of Cape Coast), and Rijona Biochemicals (University for Development Studies).

Nurturing Young Entrepreneurs

At the event in Accra last Friday, KIC Executive Director Benjamin Gyan-Kesse emphasized the importance of the competition in nurturing young entrepreneurs within the agricultural ecosystem. “Since its inception, the KIC AgriTech Challenge Pro has been instrumental in changing young people’s perspectives on agriculture. Each year, we focus on building viable businesses that have the potential to economically empower young people,” he said. Gyan-Kesse highlighted KIC’s commitment to providing training, tools, networks, and resources to support these businesses.

YOU CAN’T MISS: The Impact of High Interest Rates on the Ghanaian Worker

Agricultural Growth

Gottfried Odamtten-Sowah, Head of Entrepreneurship at the Mastercard Foundation, discussed the significance of collaboration and innovation in developing the next generation of agricultural leaders. “We believe in supporting young people to find dignified and fulfilling work by nurturing innovation, fostering entrepreneurship, and providing skill development opportunities,” he said. Odamtten-Sowah stressed that these efforts are crucial for driving change and fostering growth in Ghana’s agricultural sector.

Conclusion

The AgriTech Challenge Pro represents a vital initiative in Ghana’s effort to promote agricultural entrepreneurship and innovation among the youth. By providing substantial seed funding and resources, the program aims to create a new wave of agricultural businesses that contribute to national development and environmental sustainability.

Comments

  • No comments yet.
  • Add a comment