First City Monument Bank (FCMB has partnered with Passion Incubator to launch Agritech EPIC Pitch.
Due to the global pandemic, the maiden of the pitch competition will be online. The Agritech EPIC Pitch competition aims to help entrepreneurs scale their early- and growth-stage agritech businesses.
Through the virtual competition, FCMB and Passion Incubator will support African agritech businesses with seed investment, workspace, and access to the market. The selected agritech businesses will also be connected with a network of collaborators that will support their growth.
The top two startups from the Agritech EPIC Pitch will receive ₦1.5 million.
Passion Incubator is an early-stage incubator and accelerator based in Lagos. It has invested in many early-stage startups, including agritech startups. One of its portfolio companies is TradeBuza, a web and mobile platform for out-growers and agricultural processors.
The Pitch competition will also feature a virtual conference themed, "Redefining and repositioning Agricultural value chains during and post the COVID-19 era". The conference would convene global experts to discuss and share some insights on the agricultural value chain.
The deadline for applying to the Agritech EPIC Pitch is July 24, 2020. Click here to apply.
According to FCMB, the Pitch competition is looking for solutions in:
- Agricultural Finance
- Agricultural Marketing
- Supply chain
It is pertinent to note that the Agritech EPIC Pitch is different from Hub One’s EPIC Pitch, which XCard won. And this does affect the timeline of the EPIC Pitch which plans to award seven startups $2,100.
The reason both pitch competitions are called EPIC is that it’s an acronym for FCMB core values. Execution, Professionalism, Innovation, and Customer Focus.
According to FCMB, Agritech EPIC Pitch is geared towards building and accelerating the growth of agritech startups in Africa. It will also help young and self-driven Nigerian entrepreneurs grow their agri-businesses.
"This mission would eventually build investable, sustainable, and scalable businesses that can contribute to the nation’s employment rate as well as the growth of the nation’s GDP", a representative of FCMB said.