Africa AgTech & Insurance – Applications are now open for the Africa AgTech & Inclusive Insurance Challenge that aims to celebrate and support young entrepreneurs who are working at the intersection of agriculture, insurance, climate, and gender to build resilience for smallholder farmers.
Businesses should have an existing insurance product for rural farmers, or be working towards introducing an insurance product as an additional product or service offering.
The Africa AgTech & Resilience Challenge will support 5 finalists with one-on-one support to refine their business models, investment collaterals, and prepare for exposure to the investment community.
Three winners will be awarded cash prizes to scale, refine, or launch innovative insurance products.
Benefits / Africa AgTech & Insurance
If selected, you could have the opportunity to:
- Win a Cash Prize to scale or launch an insurance product
- 1st Place wins $25,000
- 2nd Place wins $15,000
- 3rd Place wins $10,000
- Receive one-on-one investment readiness support to improve the pitch and investment ask, as well as refine investment collateral
- Advisory services from IFC insurance technical specialists
- Pitch to an eminent Grand Jury and get feedback to
- Share your business model with global investors
- Attend the Sankalp Africa Summit 2022 (online and in-person) in Nairobi, where you can meet a global network of investors, donors, and entrepreneur support organization
- Leverage dedicated exhibition space for your business to gain visibility and generate leads.
Who are they looking for?
Technology-led enterprises in sub-Saharan Africa who are offering solutions to the challenges faced in the development of agriculture resilience. If you are working on technology solutions that can help the development of agriculture insurance and index insurance, this challenge is for you!
Even if you have not yet focused on applying your innovation to facilitating uptake of insurance for the agriculture sector, but see an opportunity of tailoring your solution to do so, you should apply.
Eligibility Criteria / Africa AgTech & Insurance
- Business owners must be under 30 years of age
- Businesses must be operational in sub-Saharan Africa
- Applicants must have a registered, for-profit business and generating revenues
- Run a high-impact business that caters to rural communities, youth, and/or women
- Operating in one or more of the following sectors: AgInsurance, AgTech, FinTech, Gender & Inclusion
- Have a clear for-profit business model with high potential for scale
- Have an experienced and dedicated promoter team
- Are looking for funding in the range of USD $10,000 – $1,000,000
How to Apply
Interested persons should click the link and apply