Small Foundation to back agtech ventures in Africa
Small Foundation has announced a new partnership with Founders Factory Africa (FFA), a Johannesburg-headquartered venture development and investment company, to provide a platform for entrepreneurs to build and scale agtech startups across the continent.
Together FFA and Small Foundation will support over 18 agtech startups from across sub-Saharan Africa with their ideas and ventures to address challenges across the entire agricultural value chain. The partnership stands to make a significant impact across the continent, by supporting agtech startups that can innovate and improve the delivery of a range of services to smallholder farmers and micro, small and medium-sized enterprises in the agricultural sector. Small Foundation will work with FFA, providing access to networks, entrepreneurs and investors across Africa.
Conor Brosnan, CEO and chair of Small Foundation, said: “This is a pivotal time to invest in the growing area of agtech in Africa, which has transformative potential for local livelihoods. We are excited to see FFA’s highly-skilled team work with immensely talented African entrepreneurs to deliver scaled solutions to some of the biggest challenges faced by the sector.”
Roo Rogers, CEO of Founders Factory Africa, commented: “Technology can create and leverage new information, new tools, new ways of conceptualising, predicting, and working for a smarter, cleaner and more productive future. The potential is massive and is ready to be supported. Together ourselves and Small Foundation will find and support agtech ventures that can be sustained, scaled and, ultimately, impact rural livelihoods.”
The FFA model includes its hands-on Venture Scale programme, which develops and scales early-stage businesses through a bespoke six-month programme, whilst the Venture Build programme builds completely new businesses focused on addressing key agtech issues on the continent. Through FFA, each startup receives an investment of between $100,000 and $250,000 as well as access to its experienced and knowledgeable pool of talent that covers all aspects needed to scale – including product development, UX/UI, tech and engineering, investment support, business development and growth marketing.
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