ACCRA – As part of the 2017 AgriTech Challenge, the Kosmos Innovation Center will today host a first round of business plan pitches at the ISSER auditorium at the University of Ghana, Legon . Sixteen teams consisting of promising young entrepreneurs will present the business plans they have formulated to address
some of the challenges inherent in the agricultural sector. This is the first round of three pitches planned as part of the competition this year.
This first round of business plan pitches builds on market research activities in which the young entrepreneurs traveled throughout Ghana learning about the agricultural industry, as well as the AgriTech exchange, a forum in which the entrepreneurs met and interacted with professionals working in the agribusiness value chain, including investors, academics, ICT specialists, bankers, and others. The first round of pitches will determine which business teams advance to the second and final pitches in May and June, respectively. The two best teams will win seed funding from the Kosmos Innovation Center and technical assistance from the Meltwater Entrepreneurial School of Technology (MEST).
The teams will pitch their business ideas to a panel of experts selected by the Kosmos Innovation Center, which includes professionals from a range of sectors, including agribusiness, technology, finance, and academia.
Members of the expert panel also serve as advisors during the competition, helping the teams refine ideas and proposals at various stages of the competition.
Each team will have five minutes to present their business plan, followed by five minutes of discussion with the expert panel who will be looking for the best and most viable ideas. The 16 teams are preparing business plans to address market needs in a range of areas, including livestock, poultry, and fisheries management; on-farm production and post-harvest challenges; technical and market information for farmers and agricultural
processes; finance and insurance; and the ability to track food sources and authenticate agricultural inputs.
The KIC seeks to use technology, innovation, and the application of commercial solutions to solve developmental challenges in Ghana. KIC’s current focus is to nurture the development of innovative solutions that address the needs of Ghana’s agricultural sector, as well as create viable business opportunities led by
Joe Mensah, Kosmos Energy’s vice president and country manager in Ghana, said: “This event is a key milestone in the competition. The Kosmos Innovation Center has provided top-notch learning experiences, as well as training in presentation skills, finance, marketing, and technology. Our goals are to provide them with the skills they need to be successful entrepreneurs and discover innovative new businesses we can support with seed funding and technical assistance. Agriculture is an exciting market that offers these smart young entrepreneurs plenty of opportunity to launch their careers and make a difference. ”
About Kosmos Innovation Center (KIC)
The Kosmos Innovation Center (KIC) is Kosmos Energy’s flagship social investment program in Ghana. It uses
innovation to create and apply commercial solutions to development challenges, starting with agriculture.