Application Deadline: November 4, 2022
The aim of the 2022 AgriPitch Competition is to support agripreneurs by focusing on building the bankability of their businesses and ensuring that they are pitch ready for potential investors. Entrepreneurs will be coached and mentored in an interactive and tailored two-week training programme to review, prepare and present their businesses for capital raising from investors. Agripreneurs will meet investors in the virtual AgriPitch DealRoom, following training on how to manage the investor engagement process and their knowledge of areas such as: business models, investment/business plans, financial structuring, market needs assessment, business financing, and business pitching.
OBJECTIVES
- Enhance the investment readiness of agripreneurs through training and ensure they are pitch ready for investors.
- Virtually showcase to judges and investors ready youth-led businesses focused on food systems, with the aim of raising the profile of these businesses and facilitating their access to financing (debt, equity, and/or grant).
- Showcase the ingenuity of young African agripreneurs to compete globally, while motivating other African youth to aspire and seize opportunities in agribusiness.
Eligibility Criteria
| Early Start-ups (0-3 years) | Mature Start-ups (above 3 years) | Women-empowered Businesses (WEBs) |
|---|---|---|
| Meet eligibility criteria for Early Start-ups.Individuals who are at the very early stage of developing ideas/concepts for agripreneurship or a newly established business.Must have a clearly defined prototype or proof of concept.May or may not have had any products introduced to the market.May or may not have a registered corporate entity. | Individuals and firms with existing market traction: technology, product or service, already in the market.Must have a clear investment ask and growth plan/strategy.Must be a registered corporate entity. | Meet eligibility requirements for either Early Start-ups or Mature Start-ups.Firms that are 51% owned by women or founded by a woman. |
Target Beneficiaries
- Youth: Participants in the AgriPitch Competition are young people aged between 18 and 35 that own at least 25% of their business and are in leadership and management positions of the business.
- Early start-ups: Enterprises from ideation stage with proof of concept. Mature start-ups/MSMEs Enterprises must be registered with existing market traction.
- Women-empowered Businesses (WEBs): Firms with at least 51% share of women ownership or founded by a woman and with existing market traction.
Benefits
Dealroom
AgriPitch falls under the African Development Bank’s fourth African Youth Agripreneurs Forum (AYAF) which is a platform for Africa’s youth who are interested in the agriculture startup scene.
In line with the 2022 theme, the AgriPitch Dealroom will be held virtually. The Bank, through the 2022 Virtual Investor Dealroom, aims to create access to capital and markets which are often the two main hurdles for youth agripreneurs to overcome when scaling up their businesses.
Mentorship
The AgriPitch online programme includes a training session (Bootcamp) on strategic partnerships for equity in agriculture, nutrition, and financing the youth and women.
In the two-week-long business development boot camp, AgriPitch competitors can attend virtual sessions on product development, revenue channel identification, logistics, marketing, business management, investment readiness, financing, and other issues, led by trainers and coaches
Following the training and bootcamp, the participating agripreneurs will receive follow-up mentorship and coaching (virtually) for a period of six months. The mentorship activity will also link the AgriPitch participants to relevant resources throughout the six month period and beyond.
Winning SMEs will access a total grant pool of USD 140,000.
For More Information:
Visit the Official Webpage of the African Development Bank (AfDB) 2022 AgriPitch Competition