The AgroHack Challenge 2023, organized by the Mastercard Foundation, presents an exciting opportunity for innovative minds across the agriculture industry’s value chain. This challenge aims to accelerate the growth of the agricultural food sector in Nigeria, foster profitability for farmers, generate employment opportunities, and enhance food security in the country.
About the Mastercard Foundation
The Mastercard Foundation envisions a world where every individual has the chance to learn and thrive, regardless of their starting point in life. They are dedicated to providing access to education, financial services, and skills training, empowering economically disadvantaged youth in Africa to create a brighter future for themselves, their families, and their communities.
Benefits of Mastercard Foundation AgroHack Challenge
Participants in the AgroHack Challenge not only get the chance to contribute to the development of the agriculture industry but also have the opportunity to win up to one million nairas. The benefits include:
- Accelerator Program: Selected participants will undergo an intensive accelerator program to refine and advance their ideas.
- 5 Days Enterprise Boot Camp: Participants will attend a comprehensive boot camp to develop their entrepreneurial skills and knowledge.
- Mentorship: Mentors from across the globe will provide guidance and support, helping participants turn their ideas into successful ventures.
- Business Support Services: The Mastercard Foundation will provide crucial business support services to help participants establish and grow their businesses.
- Access to Investors: Participants will have the opportunity to connect with potential investors, opening doors to funding opportunities.
- Access to Potential Clients: The challenge provides a platform to showcase ideas and solutions, attracting potential clients and collaborators.
- New Market Opportunities: Selected participants will gain access to new markets, facilitating business expansion.
Eligibility Criteria for Mastercard Foundation AgroHack Challenge 2023
To be eligible for the AgroHack Challenge, applicants must meet the following criteria:
- Age: Participants must be between 18 to 35 years old.
- Team: Each participant must have a team of at least two members.
- Innovative or Scalable Business Idea: Submissions should present innovative or scalable business ideas or models within the agricultural sector, covering aspects from farm to fork.
- Impact: The proposed idea should have the potential to transform a community, a nation, or a region, or make a global impact.
- Minimum Viable Product (MVP): Applicants should have a minimum viable product to demonstrate the feasibility of their idea.
- Clear Customer Segment: The business model must identify a clear customer segment.
- Market Traction: Participants should have some market traction to demonstrate the potential of their idea.
Application Process for Mastercard Foundation AgroHack Challenge 2023?
To apply for the AgroHack Challenge 2023, you need to assess whether your venture meets the following criteria:
- Does your venture have an innovative or scalable business idea or model in the agricultural sector, covering aspects from farm to fork?
- Will your venture have the potential to transform a community, a nation, a region, or have a global impact?
- Do you have a Minimum Viable Product (MVP) that demonstrates the feasibility of your idea?
- Is your business model well-defined with a clear customer segment?
- Have you made any market traction to indicate the potential success of your idea?
How to Apply?
- If your venture aligns with the above criteria, you are eligible to apply for the AgroHack Challenge. To apply, click the official application link at: https://reg.smetoolkit.ng/start-application/agrohack-challenge-2023
- Login to your account by entering your email and password in the space provided
September 25, 2023.
The Mastercard Foundation’s AgroHack Challenge presents an incredible opportunity for young Nigerians with innovative ideas in the agriculture sector. Participants of this challenge will not only win up to one million nairas but also gain access to essential resources, mentorship, and potential clients and investors.
This initiative will undoubtedly contribute to the growth of the agriculture food sector, fostering economic development and food security in Nigeria.
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