Kosmos invests in Ghana’s future beyond oil and gas ….As 19 start-ups pitch in KIC AgriTech Challenge

Nineteen start-up businesses participating in the Kosmos Innovation Centre AgriTech Challenge have advanced to the first business plan pitching event held at the ISSER conference centre at the University of Ghana, Legon.

Over the past four months, 75 entrepreneurs have been working on exciting business ideas which seek to solve some of the key challenges in the agricultural value chain.

The first pitch of their business plans is an important milestone in the AgriTech Challenge aimed at validating the viability of the ideas formulated by the business teams.

A statement issued by the company said the young entrepreneurs pitched a range of business ideas, including agric-financing; smart storage systems; agronomy and operational support; livestock management and health monitoring systems; input supplies and acquisitions; and aquaculture.

“The young entrepreneurs and their business teams pitched their ideas to a panel of expert judges drawn from academia, finance and banking, ICT, the Ministry of Agriculture, and other relevant fields across the agribusiness value chain,” the statement said.

Members of the panel are also mentors in the programme that coach and support the young entrepreneurs as they formulate and refine their business plans.

During the first pitch, teams are evaluated on the clarity of their challenge proposition and their solution to the challenge. Successful teams will advance to the second pitch in June.

Now in its third season, the AgriTech Challenge has grown in popularity, experiencing a 476 per cent increase in applicants between 2016 and 2018.

Joe Mensah, Kosmos Energy’s Vice President, Country Manager, and Chairman of the Kosmos Innovation Center said: “We are investing in Ghana’s future beyond oil and gas. Kosmos would like to see these start-ups develop clear, workable and scalable businesses that can change the face of agriculture in Ghana. Improving Ghana’s agriculture sector by fostering entrepreneurship will go a long way toward creating a healthy, diverse, and growing economy.”

By Times Reporter

 

 

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