African Development Bank – Youth Agripreneur/AgriPitch Competition
AFRICAN DEVELOPMENT BANK – YOUTH AGRIPRENEUR/AGRIPITCH COMPETITION
African Development Bank – Youth Agripreneur/Agripitch Competition
Deadline: 23rd October, 2020
The African Development Bank’s Youth Agripreneur AgriPitch Competition and DealRoom connects expansion-ready, youth-led African businesses with global investors (debt, equity and/or grant). The DealRoom focuses on youth-led agribusinesses under the themes of nutrition and gender inclusivity. The goal of the AgriPitch Competition and DealRoom is to promote innovation and entrepreneurship in agriculture among youth in Africa and to generate jobs, create wealth and improve livelihoods through inclusive growth across the continent.
African companies that meet the criteria below are encouraged to submit their deal information by 23 October for review by the Bank’s and Asoko Insight’s data teams. Qualified businesses will be promoted through the Asoko portal to global investors for matching. Interested investors can match with any deal by registering their profile and selecting target deals.
Shortlisted businesses will participate in a virtual AgriPitch Competition on 16-17 November 2020, where winners will be chosen based on different categories under consideration. The African Development Bank will award shortlisted businesses between US$10,000 and US$40,000 in the form of grant capital (US$120,000 in total is committed).
The African Development Bank is a leading multilateral development finance institution. The Bank has 81 member countries and is headquartered in Abidjan, Côte d’Ivoire.
Further details regarding specific eligibility is found on the bottom of this page in the FAQ. Evaluation criteria for successful applications is also below.
Applicant Evaluation Criteria
All applicants should consider this criteria carefully as they build out their profile for submission.
Value Proposition and Innovation Rationale (30% weighting):
- How creative is the idea or how creatively the idea solves a problem related to ICT and agric-digitization?
- Gender responsiveness
- Addresses nutrition
- Job creation potential
- Competitive edge
Sustainability and Scalability (20% weighting):
- Sound environmental management systems
- Potential for scaling-up
- Sufficient and qualified staff, including management
Business Feasibility & Traction (30% weighting):
- Clear customer pain/need intensity and market size
- Commercial and technical feasible with strong profit margins
- Existing traction and customers (for matured start-ups)
Professionalism and Presentation of Business (5% weighting):
- Structure and presentation of the business model
- Ease of comprehension of the business
- Strong writing/presentation skills
Investment Appeal (15% weighting):
- Investment pull based on respective early start-up, matured start-up, and all-star stage
This Grant Application is suitable for
Companies that are in one of following categories: Youth with early stage Start-ups, Mature Start-ups, and Women Empowered Businesses as per the African Development Bank criteria are eligible to apply for the AgriPitch Competition and Virtual Investor DealRoom.
- Sector of focus: Agribusiness
- Company meets the criteria for a category:
- Start-ups: Must have a clearly defined prototype or proof of concept, though may not have introduced products to the market yet.
- Matured Start-ups: Firms with existing market traction (i.e., technology, product, service, etc., already on the market) with a clear investment ask, growth plan and strategy.
- Women Empowered Businesses: In addition to the criteria for a mature start-up, firms must have at least 51% share of women ownership or been founded by a woman.
What you need to do to join
- Submit application at the link below “Submit Interest” and supply as much detail as you can on the form that follows.
- Asoko Insight will contact you to confirm the submission is complete or to verify certain information and suggest areas where you may be able to improve your expression of interest.
- We’ll let you know when your deal is published on the platform and under consideration by investors and African Development Bank.
- Asoko or African Development Bank may then be in touch following your match with an investor or shortlisting for the AgriPitch Competition.
Check this link to apply.
Is data confidential?
The African Development Bank and Asoko Insight will not disclose your deal data to third parties without your permission. Aggregate, anonymized data may be used for analytical purposes and in support of the goals of this initiative.
You can also find out more about our general privacy terms
Do I have to provide all details?
The evaluation team requires all proposals to provide sufficient information for a adequate insight into the business. Mandatory data required is indicated on the template. Overall, the more detailed and comprehensive the data provided, the higher probability of success for matching and selection for the AgriPitch competition.
What if I do not have all the details to hand?
Note that you can save a work in progress and come back to complete the application. However, it is recommended to complete all mandatory data and submit an entry as soon as possible, as one can add optional supporting details after submission.
I have a query, who can I contact?
For all topics the simplest way to reach out is to use the instant chat option in the bottom right hand of this page.
You can also email email@example.com
Editor’s Comment: The application process is a comprehensive one and requires an in-depth understanding of your business. Apart from the initial biodata and information on your revenue and amount sought in financing, there are at least 5 different sections to fill in the application process. You will need to put in info about your personnel, audited financial statements, your shareholding structure, a pitch deck, socio-economic impact among other details. I strongly encourage the use of professional business development expert to help with putting together your application documents.
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