Founders Factory Africa and Small Foundation partner to build and scale agtech ventures across Africa
See the announcement at TechCrunch.
Small Foundation are delighted to announce our new partnership with Founders Factory Africa (FFA), a Johannesburg-headquartered venture development and investment company, to provide a platform for entrepreneurs to build and scale agtech startups across the continent.
Together FFA and Small Foundation will support over 18 agtech startups from across sub-Saharan Africa with their ideas and ventures to address challenges across the entire agricultural value chain. The partnership stands to make a significant impact across the continent, by supporting agtech startups that can innovate and improve the delivery of a range of services to smallholder farmers and micro, small and medium-sized enterprises in the agricultural sector. Small Foundation will work with FFA, providing access to networks, entrepreneurs and investors across Africa.
Conor Brosnan, CEO and Chair of Small Foundation: “This is a pivotal time to invest in the growing area of agtech in Africa, which has transformative potential for local livelihoods. We are excited to see FFA’s highly-skilled team work with immensely talented African entrepreneurs to deliver scaled solutions to some of the biggest challenges faced by the sector.”
Roo Rogers, CEO of Founders Factory Africa: “Technology can create and leverage new information, new tools, new ways of conceptualising, predicting, and working for a smarter, cleaner and more productive future. The potential is massive and is ready to be supported. Together ourselves and Small Foundation will find and support agtech ventures that can be sustained, scaled and, ultimately, impact rural livelihoods.”
Agtech is the latest sector to be supported by FFA, who is already supporting fintech and healthtech entrepreneurs in Africa. To date, FFA has invested in and supported more than 23 ventures to scale across Nigeria, Kenya, Ghana, South Africa, which collectively have raised over $7M following their time with the programme. As support grows for entrepreneurs and their businesses, FFA is expanding its team of specialists and is looking for product, growth, and design experts.
The FFA model includes its hands-on Venture Scale programme, which develops and scales early-stage businesses through a bespoke six-month programme, whilst the Venture Build programme builds completely new businesses focused on addressing key agtech issues on the continent. Through FFA, each startup receives an investment of between $100,000 and $250,000 as well as access to its experienced and knowledgeable pool of talent that covers all aspects needed to scale – including product development, UX/UI, tech and engineering, investment support, business development and growth marketing.
In addition to hands-on support from FFA, participating agtech startups will have access to global capital, talent and knowledge transfer through the Founders’ group that includes Founders Factory in the UK, and a network of world class entrepreneurs, investors, corporates and successful startups across Africa, Europe, the UK and the US.
FFA is inviting entrepreneurs with an agtech focus to apply at: https://www.foundersfactory.africa/