Agroye is calling all young agripreneurs to apply for her 2024 My 500k Agribusiness Idea Competition.My $500k Agribusiness Idea Competition is designed to inspire young entrepreneurs to transform their agribusiness concepts into business plans and grow them regardless of scale into successful ventures.
Deadline: October 12, 2024
Country hosting: Nigeria
Eligible Countries: Nigeria
Reward: 1 million naira worth of Prizes
Eligibility Criteria:
To be considered for the Agroye AgriBusiness Idea Competition, you must:
- Participants must be between the ages of 18 and 35 at the time of entry.
- Participants must have a new business idea or a business registered no later than 2 years prior to the start date of the competition (2nd September 2024).
- For participants with a registered business, the annual revenue must not exceed 1 million Naira.
Benefits of My $500k Agribusiness Idea Competition
The prizes for the competition are as follows:
- 1st Place: ₦500,000
- 2nd Place: ₦300,000
- 3rd Place: ₦200,000
Selection Criteria for the Competition
- Business Relevance and Feasibility:Â How viable and relevant is the business idea to the agricultural sector?
- Resource Management and Financial Projections:Â How well are the resources managed, and are the financial projections realistic and achievable?
- Community Impact:Â What positive impact will the business have on the community?
- Use of Technology:Â How effectively does the business utilize technology?
- Unique Solution to an Existing Problem:Â How innovative is the proposed solution to a problem in the agriculture sector?
- Note: Al-generated and plagiarised proposals will be disqualified
How to Apply
To apply for Agroye My 500K AgriBusiness Idea Competition:
- Participants must prepare a business plan/pitch document that requires a ₦500,000 capital investment. An optional guide template is available for use.
- Create a 1-minute video with your team, introducing your business idea, and post it on any social media platform using the hashtag #500kagribusiness and tag Agroye’s official social media account.
- Fill out the competition entry form available on the Agroye website, submit the link to your video, and upload your business plan/pitch document.
- Entry into this Competition is free!
- All entries must be submitted no later than 11:59 PM WAT on 12th October 2024. Late entries will not be considered.
