The 2024 FCMB Hackathon Program for Africans is an exciting initiative aimed at supporting early-stage agricultural firms across Africa and fostering innovation in the industry.
This program, funded by FMO, has the primary objective of identifying and nurturing AgriTech companies capable of addressing critical challenges within the sector.
The hackathon provides you with a platform to evolve your ideas into viable solutions, while the subsequent venture-building program offers selected teams financial support, mentorship, and additional resources to facilitate the implementation and scaling of their solutions.
Spanning six weeks, the program entails a three-month hackathon culminating in a prize-giving day, six weeks of intensive sprints focused on creating ventures, and an investor day program featuring the premiere of a documentary.
These components are designed to equip high-impact, innovative AgriTech firms with the essential business and product development support required to refine their solutions for agricultural challenges and attract further investment.
Program Overview:
- The First City Monument Bank (FCMB) is the program host institution.
- The program entails competitions and training
- Open to all African Countries
- The program focuses on improving agriculture using technology.
- The deadline for application is September 5, 2024
About Host Institution:
Headquartered in Lagos, Nigeria, First City Monument Bank (FCMB) is a prominent financial services holding corporation established in 1982.
It has solidified its position among Nigeria’s top ten banks, marked by the strategic acquisition of FinBank. FCMB operates through nine subsidiaries, organized into three core business groups:
- Retail and commercial banking: Providing a range of services such as USSD banking, credit cards, loans, and accounts tailored for both individuals and businesses.
- Investment banking: Offering services encompassing capital raising, mergers & acquisitions, and financial advisory.
- Asset and wealth management: Providing investment products and wealth management services.
Program Specifics:
An ambitious program called the FCMB Hackathon and Venture Building Program supports businesses that offer cutting-edge AgriTech solutions to the market to drive growth in the agricultural sector. There are two primary phases to the program:
- Hackathon: An event where participants can hone their concepts with guidance from professionals in the field. The goal of this phase is to assist participants in developing minimal viable products (MVPs) or prototypes that tackle actual agricultural problems.
- Program for venture building: Teams who make it past the hackathon round will advance to this level, where they will get comprehensive funding, mentoring, and training. The goals of this phase are to prepare the hackathon-developed ideas for market entry, scale them, and establish connections with possible investors.
Qualifiable Standards:
The following requirements must be fulfilled for you to be eligible for the 2024 FCMB AgriTech Hackathon:
- The company concept should be in its infancy, yet it should have a distinct identity and room to expand.
- You should have a group of people with a variety of backgrounds and abilities that are pertinent to starting an Agritech company. This could involve knowledge of marketing, business development, technology, and agriculture.
- Groups should have a strong dedication to having a good influence in the agricultural industry.
- You must be dedicated to putting in your utmost effort to grow your endeavors and participate completely in the program.
- The group ought to be a limited liability company, or a business name attached to a duly registered corporation. Teams and lone hackers alike are welcome to apply for the hackathon.
Program Benefits:
You gain several benefits by participating in 2024 FCMB AgriTech Program. The benefits include.
- Funding: Teams who do well will be given money to assist in implementing their ideas.
- Mentoring: You will have access to seasoned mentors who can offer advice on technology, market strategy, and business development.
- Training: To give you the abilities and information required to thrive in the AgriTech sector, the program offers specialized training.
- Access to Industry networks: By providing you with a means of connecting with influential figures in the technology and agriculture sectors, possible partnerships and collaborations may be explored.
- Support for Marketing: The initiative will offer tools to assist you in successfully marketing your goods and services.
Program Organization:
The 2024 FCMB AgriTech Program is set up to provide the greatest possible impact and guarantee the fruitful creation of cutting-edge AgriTech solutions. The program involves:
- Three-month Hackathon: During this time, you will attend several workshops, mentoring sessions, and team-building activities aimed at helping you refine your concepts and get ready for the venture-building stage.
- Venture building sprints (6 Weeks): Selected teams will work together in concentrated sprints to improve their products, market strategies, and business models after the hackathon.
- Investor day and documentary premiere: As the program comes to a close, participants showcase their solutions to possible investors on Investor Day. A documentary that highlights the experiences of the startups and the program’s effects will also make its premiere.
How to Apply:
Applying for the FCMB AgriTech Hackathon Program in 2024 entails doing the following:
- Go to the Program’s webpage and click the application link provided.
- Fill out the application form with as much information as possible about your team, your business concept, and your goals for the AgriTech industry.
- Should you be chosen, get ready to contribute completely to the hackathon by bringing your most innovative ideas and spirit of teamwork.