The Kosmos Innovation Center today hosted its 3rd and final round of business plan pitches of the 2017 AgriTech Challenge, at the Law School auditorium at the University of Ghana, Legon.
The 2017 AgriTech Challenge begun with sixteen teams presenting at the first pitch, eleven at the second pitch and finally six at the finals today. The competition has been a 9-month long journey with the teams going through a plethora of intensive trainings to help them formulate viable and scalable businesses within the Agribusiness sector.
At today’s session, the six teams AgriInnova, Qualitrace, Unlimited, Rent-a-Farm, CompleteFarmer and AgroSeal have formulated their business concepts on track and trace technology to authenticate product inputs and outputs, logistics and transportation services platform to connects fruits and vegetables’ aggregators and large scale farmers, and digital land mapping technology marketplace providing potential farmers with arable lands with much convenience. Others concepts were, an enterprise mobile and web based management system that enables poultry farm management; livestock management software that identifies and tracks health status of individual livestock and an agribusiness solution services for an identified niche market of individuals through a practical, personalised and customized farming experience.
Key to the success of this year’s challenge is the requirement for the teams to come up with a Minimum Viable Product (MVP) before the final pitch. The objective was to assure that they have viable products which could be tested out amongst potential future users and customers. This idea has been very useful as all the teams have had the opportunity to validate their products as expected. We intend to continue with this trend in the next round of the challenge in 2018.
The panel of judges selected from different fields of expertise will evaluate the teams based on the strength of their business concepts, management skills, team dynamic and entrepreneurial spirit. The winners of the ultimate prize money of $50,000.00 PLUS an all-expense paid one year incubation at the Meltwater Entrepreneurial School of Technology (MEST) will be formerly announced at the end of August 2017
Opening the final pitch with remarks, Mr. Joe Mensah, Kosmos Energy’s vice president and country manager, said: “The Kosmos Innovation Center has exposed the young entrepreneurs to so many opportunities in the agricultural value chain that, independently, they can effect changes in the space. We encouraged all the teams not to let the resources spent on them go waste. The agriculture sector offers plenty of opportunities for young people to apply their knowledge and skills in innovative ways that can make a difference for Ghana We encourage them to go out and impact Ghana’s agricultural sector to reflect all time, money and resource people we have given you for the past nine months”