Applications now open for $50,000 MEST Africa Challenge 2024 for agritech startups

Applications are now open for the 2024 edition of the MEST Africa Challenge. A product of the Meltwater Entrepreneurial School of Technology (MEST Africa), in collaboration with the Norwegian Embassy, this year’s challenge seeks to identify and support exceptional agricultural technology (AgriTech) entrepreneurs who are addressing critical agricultural challenges in West Africa.

The winning startup will receive $50,000 in equity funding along with access to MEST’s extensive global network. This will enable them to unlock valuable partnerships, mentorship, and investment opportunities to accelerate their growth and global presence. 

In the rapidly evolving world of AgriTech, innovation needs the right conditions to flourish. While many African entrepreneurs possess bold visions, they often face challenges in accessing the necessary resources and networks to bring their ideas to fruition. Organisers say the 2024 MEST Africa Challenge, currently in its sixth edition, is here to bridge that gap.

Themed ‘Find Your Soil’, this year’s edition of the challenge is offering startups the opportunity to “Find Their Soil” by providing critical support, funding, and mentorship. 

Speaking on the theme and general intent of the challenge, Portfolio Advisor at MEST Africa, Ashwin Ravichandran, said the aim is to support the agritech ecosystem in a way that will help the entrepreneurs playing in it to thrive.

“‘Find Your Soil’ is a call to action for AgriTech innovators to discover the ideal environment where their vision can flourish. Through the MEST Africa Challenge, we aim to support this ecosystem by providing the necessary resources, visibility, and strategic support for these entrepreneurs to thrive,” Ashwin said.

MEST Africa says it is committed to fostering job creation and economic growth across the continent through software entrepreneurship. By offering specialized tech entrepreneurial training and investment opportunities, the organization says it empowers Africa’s brightest minds to build and scale impactful businesses.

Eligibility criteria for MEST Africa Challenge 2024

The MEST Africa Challenge 2024 is targeted at the agricultural technology sector in West Africa. It is, therefore, open to startups from key West African markets, including Benin, Cape Verde, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mauritania, Nigeria, Senegal, Sierra Leone, Mali, and Togo.

To qualify, these agritech startups must be early-stage technology startups, not older than three years. They must also have a minimum of $5,000 in monthly recurring revenue and for traction, must have evidence of accruing the said revenue across at least six months. They must not have raised more than $1 million in cumulative funding

Furthermore, the startups must have at least two founding team members and is preferrable to have been registered in Delaware. Their business model can come in any form from B2B to B2C, B2B2C, B2G and others. Finally, all startups and participants must be able to pitch in English.

Applications will close on 4th October 2024 while the Top 20 Participants chosen on 14th of October 2024. Virtual semi-finals will be held on the 29th and 30th of October 2024 while the in-person finals will hold at a date that will be announced.

Interested AgriTech entrepreneurs can click on the following link to apply

Since its inception, MEST says it has invested over $30 million into training more than 2,000 entrepreneurs and has supported the launch of 90 early-stage tech startups across sectors including AgriTech, FinTech, SaaS, eCommerce, Digital Media, and Healthcare. This year presents an unparalleled opportunity for AgriTech entrepreneurs to “Find Their Soil” and take their businesses to the next level. 

See also: Social agriculture: 7.5 million Kenyan farmers sell their produce through social media

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