Opportunities 2022/2023

APPLY || Africa AgTech & Inclusive Insurance Challenge 2022

APPLY || Africa AgTech & Inclusive Insurance Challenge 2022

APPLY || Africa AgTech & Inclusive Insurance Challenge 2022

Do not miss out of the currently ongoing Africa AgTech & Inclusive Insurance Challenge 2022

Deadline: February 16, 2022

The Africa AgTech & Inclusive Insurance Challenge 2022 is now accepting applications. The Challenge aims to recognize and encourage young entrepreneurs who are trying to enhance resilience for smallholder farmers by combining agriculture, insurance, climate change, and gender.

Businesses should either have an existing insurance product for rural farmers or be working on developing one as a new product or service offering. The Africa AgTech & Resilience Challenge will provide one-on-one support to five finalists as they polish their business models, investment collaterals, and prepare to pitch to investors. Three cash prizes will be given to three winners to help them develop, refine, or launch new insurance solutions.

Businesses should operate in one of the following topic areas:

    • Data & Analytics: Companies that are using cutting-edge technology to innovate by:
    • Improving crop yield and weather data collection, and/or assisting forecasting
    • Collecting data on crops or livestock using cutting-edge remote sensing and imagery solutions, machine learning, AI, or block chain to increase efficiency
    • Agriculture Productivity: Businesses that help small-scale farmers become more resilient by:
    • Providing agronomy assistance
    • Providing climate-smart advising services is number six.
    • Use chatbots or platforms to connect peer-to-peer learning.
    • Use pest control measures to reduce losses.
    • Provide early warning detecting devices to assist in the management of livestock or crops.
    • Financial Inclusion for Agriculture: Businesses that help small-scale farmers.

Benefits

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

Eligibility

  • 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.

Application

Applications will close at midnight GMT on February 16, 2022. Late applications will not be considered.

Click here to apply

For more information, visit AgriTech & Inclusive Insurance Challenge.

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