FCMB, FMO seek agric solutions with Agritech Hackathon

 First City Monument Bank (FCMB) and the Dutch Entrepreneurial Development Bank (FMO) are joining forces to ignite innovation in Nigeria’s agricultural sector through an Agritech Hackathon and Venture Building programme.

The initiative, delivered by Heave Ventures, invites startups, entrepreneurs, and innovators to develop solutions for challenges like credit access, infrastructure, and food security.

The programme includes a 48-hour Hackathon, a 4-week venture-building residency, and a stakeholder conference.

Winners will receive up to 23 million in prizes and further exposure to growth opportunities. Applications for the programme are now open at on.fcmb.com/AgricTech-Hackathon and will run from August 5 to September 5.

Commenting on the programme, FCMB’s Divisional Head, Agribusiness & Non-Oil Exports, Mr Kudzai Gumunyu, said: ‘’This initiative aims to address the perennial pain points in Nigeria and Africa’s agribusiness ecosystems, transforming them into monetised opportunities for innovators.

“It is an opportunity for innovators to conceptualise and develop solutions that will bridge some of the identified gaps in the agribusiness ecosystem to herald a new era of efficient agricultural practices for all stakeholders. We will continue to champion initiatives that foster inclusive and sustainable growth within communities by building a supportive ecosystem rooted in Africa, connecting people, capital, and markets”.

The Agritech Hackathon and Venture-Building programme will end with demo days where winners will be rewarded with cash grants and other benefits.

Martine Sanders, Technical Assistance Manager at FMO, added: “By empowering early-stage companies through business development services and funding, we aim to foster innovative ideas that address key challenges in the agriculture space, a strategic sector in Nigeria.

 “This initiative is vital for unlocking finance for MSMEs, promoting sustainable growth, and strengthening the ecosystem. This perfectly aligns with the objectives of NASIRA, the portfolio guarantee and technical assistance programme under which FMO and FCMB have partnered, which is funded by the European Commission.