Introduction
The Mastercard Foundation Fund for Resilience and Prosperity has launched the Agribusiness Challenge Fund to empower young entrepreneurs and support the growth of sustainable agribusinesses in Africa. With the agribusiness sector playing a crucial role in economic growth and food security, this challenge aims to foster innovative solutions that address the pressing challenges faced by Africa’s agricultural industry. By supporting entrepreneurs focused on enhancing agricultural productivity, creating job opportunities, and strengthening food supply chains, the Mastercard Foundation seeks to drive economic resilience and prosperity across the continent.
Eligibility
The Agribusiness Challenge Fund is open to young entrepreneurs, small and medium-sized enterprises (SMEs), and organizations within the agribusiness sector across Africa. To qualify, applicants must meet the following criteria:
- Age Requirements: Open to young African entrepreneurs aged 18-35.
- Business Focus: Priority is given to agribusinesses with a sustainable impact, including those involved in crop production, animal husbandry, agro-processing, supply chain management, and technological solutions in agriculture.
- Stage of Business: The challenge supports both early-stage and growth-oriented agribusinesses.
- Location: Applicants should be based in Africa and serve local or regional markets within the continent.
- Social Impact: Businesses should demonstrate potential for creating jobs, improving food security, and fostering economic growth in local communities.
How to Apply
The application process for the Agribusiness Challenge Fund involves the following steps:
- Online Application: Interested entrepreneurs should visit the Mastercard Foundation website to access the online application form.
- Business Proposal Submission: Applicants must submit a detailed business proposal that outlines their agribusiness model, target market, growth plan, and the potential impact on local communities.
- Pitch Deck: Applicants may be required to provide a pitch deck showcasing their business vision, objectives, and projected impact.
- Evaluation Process: Proposals will be evaluated based on the viability of the business model, scalability, innovation, and alignment with the Mastercard Foundation’s mission to promote sustainable development.
- Interviews and Final Selection: Shortlisted candidates will be invited for virtual interviews before the final selection.
Funding
Selected entrepreneurs will receive financial support to further their agribusiness initiatives. The funding is intended to:
- Provide seed capital to early-stage businesses.
- Support growth-oriented enterprises looking to expand their operations.
- Fund technical assistance, training, and capacity-building programs to enhance business skills.
- Facilitate access to local and international markets, enabling agribusinesses to scale effectively.
The Mastercard Foundation’s Agribusiness Challenge Fund offers a unique opportunity for young entrepreneurs to drive positive change within Africa’s agricultural sector. By focusing on sustainability, innovation, and job creation, this challenge aims to support the growth of agribusinesses that contribute to economic resilience and prosperity across the continent. For aspiring agribusiness leaders, this is a chance to turn their ideas into impactful ventures that benefit both their communities and the broader African economy.
