Agroye My 500K Agribusiness Idea Competition

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• Winners will receive significant cash prizes, with the first-place winner receiving ₦500,000.
• The competition offers a platform for young entrepreneurs to develop their agribusiness ideas and receive valuable knowledge
• Participants are encouraged to consider the positive impact their businesses can have on the community.

Agroye is an Agri-tech startup to grow the number of farmers in Africa and beyond.

My 500k Agribusiness Idea Competition is designed to inspire young entrepreneurs to transform their agribusiness concepts into business plans and grow them regardless of scale into successful ventures.

Eligibility

• Participants must be between the ages of 18 and 35 at the time of entry.
• Participants must have a new business idea or a business registered no later than 2 years before the start date of the competition (2nd September 2024).
• For participants with a registered business, the annual revenue must not exceed 1 million Naira.

How to Enter

• Participants must prepare a business plan requiring a ₦500,000 capital investment. An optional guide template is available.
• Create a one-minute video with your team introducing your business idea. Post it on any social media platform using the hashtag #500kagribusiness and tagging Agroye’s official social media account.
• Please complete the competition entry form on the Agroye website, submit the link to your video, and upload your business plan.
• All entries must be submitted no later than 11:59 PM WAT on 12th October 2024. Late entries will not be considered.

Selection Criteria

• Business Relevance and Feasibility: How viable and relevant is the business idea to the agricultural sector?
• Resource Management and Financial Projections: How well are the resources managed, and are the financial projections realistic and achievable?
• Community Impact: What positive impact will the business have on the community?
• Use of Technology: How effectively does the business utilize technology?

Winning Prizes
The prizes for the competition are as follows:

• 1st Place – ₦500,000
• 2nd Place – ₦300,000
• 3rd Place – ₦200,000

APPLY HERE

More Opportunities: MEST Africa Challenge 2024: $50,000 Equity Funding Opportunity for Early-Stage Agritech Startups