Agroye’s My 500K Agribusiness Idea Competition is here, offering young Nigerian entrepreneurs the chance to transform their innovative agribusiness ideas into successful ventures with cash prizes of up to ₦500,000.

Key Information

What is Agroye?

Agroye is an AgricTech startup focused on revolutionizing agriculture across Africa by empowering farmers with modern techniques, promoting nutrition education, and fostering a thriving agribusiness community.

What is the My 500K Agribusiness Idea Competition?

This competition is designed to encourage young entrepreneurs to develop and pitch innovative agribusiness ideas that can address key challenges in agriculture. Whether you have a new concept or a fledgling agribusiness (no more than two years old), this competition is your gateway to gaining financial and mentorship support.

Prizes for the Winners

1. 1st Place: ₦500,000
2. 2nd Place: ₦300,000
3. 3rd Place: ₦200,000

Eligibility

• Age: 18-35 years
• Business Age: Fresh idea or registered within two years (before 2nd September 2024)
• Revenue: Annual revenue must not exceed ₦1 million for already registered businesses.

What Are the Judges Looking For?

1. Business Relevance and Feasibility
   How viable is your agribusiness idea in today’s agricultural landscape?
2. Resource Management and Financial Projections
   Can your business manage resources effectively and present a clear financial path forward?
3. Community Impact
   Will your business have a positive influence on the local community?
4. Technology Use
   How will your business leverage technology to enhance operations?
5. Unique Solution to Existing Problems
   Does your agribusiness present an innovative solution to an existing problem in agriculture?

How to Apply for the Competition

1. Create a Business Plan
   Prepare a business plan or pitch detailing how you would utilize ₦500,000 to grow your agribusiness. You can use a template guide if needed.
2. Submit a Video
   Record a 1-minute video introducing your business idea.
   • Post the video on social media, using the hashtag #500kagribusiness, and tag Agroye’s official account.
3. Submit Your Entry
   Visit the Agroye website to access the entry form. Submit the link to your video and upload your business plan. Ensure you complete the submission by 11:59 PM WAT on 12th October 2024. Late entries will not be considered.

Apply Now

Seize this opportunity to turn your agribusiness dream into reality! Head over to the official registration page and submit your entry today.

For more information, visit the My 500K Agribusiness Idea Competition page on Agroye’s website.

Take this step towards making a lasting impact in the agricultural sector—your journey starts now!

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