FCMB Invites Nigerian Agritech Startups to Apply for the FCMB-Wennovation Agritech Incubation Program 2019

The FCMB Agri-Tech Incubation Programme run by Wenovation Hub now has its applications open to Nigerian early-stage agric-tech startups.

The Wennovation Hub Programme is, in partnership with the banking firm, FCMB, targeting innovators across Nigeria who are developing tech-based solutions that can ensure food security in the country. The goal is to help them test and validate their ideas, and also gather their first set of customers. This will be achieved through a combination of financial support, guidance and training.

The applications for this year’s program should focus on four problem areas, namely Production, Input, Processing and Storage, and Marketing and Sales. The Hub is looking for MVP-stage startups with some form of market validation.

The goal of this year’s program is to reveal the root of the pre-defined problem statement to ten teams across Nigeria, by merging an in-depth problem definition strategy with an immersion process.

The program will also support these teams with a demonstrable Minimum Viable Product to build a sustainable business model by taking them through a design thinking workshop, and a 3 weeks incubation program subsequently.

Even more, the program is to support at least two of the top selected Agri-tech startups with seed investments and grants, and offer access to experienced mentors and a cohort structure that encourages peer learning and support. Of course, the attending Agri-tech startups will have several opportunities to connect with potential investors and customers.

In fact, the programme commences with a one-week immersion component where the startups will have the opportunity to interact with community members through Wennovation Hub immersion partners. Startups who complete the immersion programme and other required reporting commitments successfully will be invited to a two-week bootcamp in Lagos.

The program will come to an end in September with a pitching competition at the demo day where two Agri-tech startups win a total sum of N3million in grants. All the successful startups are to be taken into a six-month post-bootcamp aftercare programme.

Click here to apply.

Ride-Hailing Platform, Gozem to Launch Digital Wallet Product and Delivery Services

The on-demand, ride-hailing startup Gozem which operates in Benin and Togo has recently revealed plans to launch a digital wallet and a food and parcel delivery service in 2020.

According to the Managing Director of Gozem, Emeka Ajene, the company is executing the first phase of its strategy, which will lead to the build of a robust ride-hailing business across two to three markets.

The Gozem strategy is an aggressive expansion plan with a product road-map that spans across the top sectors in Africa – transport, logistics payments, and even capital. The company is currently preparing for its second phase which includes the launch of its delivery services and digital wallet across all its markets.

 

About Gozem

The startup, Gozem, was founded by Emeka Ajena and the Singabore-based co-founder, Raphael Dana in 2018. Before co-founding Gozem, Ajene had led business development and operations for Uber Nigeria in 2016.

Gozem is registered in Singapore where it has been operating as a ride-hailing service that relies on auto-rickshaws, motorcycle-taxis and air-conditioned taxis. It only began operating in Benin last month after launching in Togo in 2018.

The plan of this startup is to achieve expansion to 10 other West and Central Africa countries over the next three years. These countries include Gabon, Ivory Coats, Nigeria, Rwanda, the Democratic Republic of Congo (DRC), and Senegal.

Since its launch last year, Gozem founders have raised over $3 million in funding, and 800 drivers are registered to the platform. It is headquartered in Singapore because the greater percent of its founding teams are located there. The company aims to increase its drivers’ portfolio to 3,000 by the end of 2019, and to 300,000 by 2024. Currently, it has about 130,000 users.

Agritech Incubation Program

FCMB in partnership with Wennovation Hub is set to host the 2018 Agritech incubation program. The incubation program is set out to guide early-stage entrepreneurs to test and validate their ideas as well as gather their first set of customers or pivot if need be. This will be achieved through a combination of financial support, guidance and training.

Benefits

  • Up to ₦2.25 million will be given to the top two selected startups.
  • Unrestricted access to the fully serviced workspace.
  • Intangibles (company registration, audit services, developer toolkit etc) worth $10k 4. Access to our local & international networks
  • 6 months mentorship with one on one mentor-mentee pairing.
  • Access to market by leveraging Wennovation Hub’s existing community.

Criteria

  • Competence of team
  • The viability of idea Innovation
  • Market and Scalability
  • Registered companies would be an advantage.
  • Female-led teams would also be given a considerable advantage.

How to Apply

Application deadline is 20th of June 2018. Visit the link to register.