FCMB, FMO create hackathon to support agric sector

3 months ago 89

By Guardian Nigeria

12 August 2024 | 2:32 am

First City Monument Bank (FCMB) and the Dutch Entrepreneurial Development Bank (FMO) have collaborated to ignite innovation in Nigeria's agricultural sector through what they call Agritech Hackathon and Venture Building programme. The initiative, delivered by Heave Ventures, invites startups, entrepreneurs and innovators to develop solutions for challenges like credit access, infrastructure and food security. The…

First City Monument Bank (FCMB) and the Dutch Entrepreneurial Development Bank (FMO) have collaborated to ignite innovation in Nigeria’s agricultural sector through what they call Agritech Hackathon and Venture Building programme.

The initiative, delivered by Heave Ventures, invites startups, entrepreneurs and innovators to develop solutions for challenges like credit access, infrastructure and food security.

The programme includes a 48-hour hackathon, a four-week venture-building residency, and a stakeholder conference. Winners will receive up to N23 million in prizes and further exposure to growth opportunities. Applications for the programme are open at on.fcmb.com/AgricTech-Hackathon and run from August 5 to September 5.

FCMB’s Divisional Head, Agribusiness and Non-oil Exports, Kudzai Gumunyu, said: “This initiative aims to address the perennial pain points in Nigeria and Africa’s agribusiness ecosystems, transforming them into monetised opportunities for innovators. We are, indeed, excited to partner with FMO and Heave Ventures to organise the Agritech Hackathon and Venture Building programme.

“It is an opportunity for innovators to conceptualise and develop solutions that will bridge some of the identified gaps in the agribusiness ecosystem to herald a new era of efficient agricultural practices for all stakeholders. We will continue to champion initiatives that foster inclusive and sustainable growth within communities by building a supportive ecosystem rooted in Africa, connecting people, capital and markets.”

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