Are you leading an AgriTech startup that has the potential to revolutionize agriculture in Africa?
The MEST Africa Challenge (MAC) is back with its 6th edition, and this could be the perfect opportunity for your startup to gain the recognition and support it needs to grow.
The competition offers a chance to win up to $50,000 in equity fundingEquity funding, often called equity financing, is a way for businesses to raise money by selling shares of their company. This method is especially he... ... and gain global visibility.
What is the MEST Africa Challenge?
MAC is an annual pitch competition that shines a spotlight on early-stage tech startups across Africa.
Over the years, this competition has played a key role in accelerating the growth of many startups.
Some of the past winners, such as:
- Tanzania’s Kilimo Fresh
- Senegal’s Kwely, and
- South Africa’s Koa Academy, have gone on to achieve significant success after participating in this challenge.
What’s at Stake?
The grand prize is nothing short of transformative:
- $50,000 in equity investment
- Access to MEST Portfolio resources and strategic partnerships
- 1 year of professional business coaching
- Additional benefits and prizes for the overall winner
2024 Focus: AgriTech
This year, MAC is zeroing in on 14 key markets in West Africa: Benin, Cape Verde, Côte D’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mauritania, Nigeria, Senegal, Sierra Leone, Mali, and Togo.
By spotlighting AgriTech, MAC recognizes the immense potential of this sector to drive sustainable development and economic growth across the continent.
The sector faces several challenges, including climate change, inefficient farming methods, and disruptions in the supply chain.
AgriTech startups are in a unique position to address these issues with innovative solutions such as precision farming, optimizing supply chains, and promoting sustainable farming practices.
Benefits of participating
Participating in the MEST Africa Challenge offers more than just the chance to win equity funding. Here’s what you can expect:
- Global Visibility: Your startup will be showcased on an international platform.
- Ongoing Support: You’ll gain access to MEST Africa’s extensive network of mentors and business support services.
- Business Validation: You’ll receive valuable feedback from experienced judges, which will help refine your business model.
Eligibility criteria
To be eligible for the competition, your startup must meet the following criteria:
- Early-stage AgriTech startup: Your business should focus on agriculture technology and innovation.
- Revenue: You should have a minimum of $5,000 in monthly recurring revenue.
- Funding: Your startup should have raised between $0 and $1 million in cumulative funding.
- Age: Your startup should be 3 years old or less.
- Location: Your business should be operational in one of the 14 eligible countries.
- Team: Your startup must have at least two founding team members.
- Language: You must be able to pitch your startup in English.
How to apply
Applying for the MEST Africa Challenge involves a few key steps:
1) Complete the online application form: Provide details about your startup, including its mission and impact.
2) Submit a comprehensive pitch deck: Highlight your business model, target market, and growth strategy.
3) Record a 3-minute video pitch: This is your chance to introduce your startup and explain why it deserves to win.
Key dates to remember
Here are the important dates you need to keep in mind:
- Applications Open: August 26, 2024
- Applications Close: October 4, 2024
- Top 20 Participants Announced: October 14, 2024
- Virtual Semi-Finals: October 29-30, 2024
- In-Person Finals: Date to be announced
The MEST Africa advantage
MEST Africa is more than just a competition. It’s a launchpad for entrepreneurs across Africa. If you win, you’ll get:
- Access to a global network of mentors
- Potential connections with investors
- A vibrant community of like-minded entrepreneurs
- Tailored business support
The Road to Victory
- Submit your application, including a 3-minute video pitch
- If selected, participate in the virtual semi-finals
- Top 5 startups advance to the grand finale in Accra, Ghana
Finalists will receive full sponsorship for travel to Accra, housing, and local transport for the final pitch day.
Conclusion
The 6th edition of the MEST Africa Challenge presents a unique opportunity for AgriTech startups to gain the recognition, funding, and support they need to thrive.
If your startup meets the eligibility criteria, don’t miss out on this chance to transform your business and make a lasting impact on Africa’s agricultural landscape.
Apply now and take the first step towards realizing your startup’s full potential!
