FCMB, Dutch Bank launch N20m AgriTech scheme for startups

FCMB (NGX: FCMB) and a Dutch bank have launched a N20 million AgriTech scheme for startups in partnership with Heave Ventures. The initiative aims to identify and prepare agritech businesses for investment, providing access to capital through a competitive grant pool.

The programme will feature intensive training for the top 20 startups selected, culminating in a pitch session to investors in October. FCMB's Divisional Head of Agribusiness and Exports, Kudzai Gumunyu, emphasized the initiative's commitment to nurturing and empowering agritech startups to contribute to the agricultural landscape.

Heave Ventures' CEO, Abiodun Lawal, highlighted the potential impact of scaling agribusiness innovation in transforming the value chain, creating jobs, boosting foreign exchange earnings, and promoting economic independence. The programme will also leverage Zimara's proprietary platform to assess the bankability of participating ventures.