In collaboration with the FATE Foundation, the Scaling Up Nutrition Business Network (SBN) will organize the 2023 edition of its annual pitch competition. FATE Foundation has been providing pre-incubation, incubation, and accelerator programs for over 22 years.
The project is a Business Model Research study that is part of a broader EUR80 million program award focusing on six African nations (Benin, Ethiopia, Kenya, Mozambique, Nigeria, and Uganda).
The aim of this partnership is to identify innovative business models that are focused on accelerating low-income consumer’s access to nutritious food while being profitable; that is, the approach that can enable a company to capture value (and thus be profitable) while still providing the food at a price the customers are able and willing to pay. In addition, the project will provide technical assistance to entrepreneurs in the nutrition space to strengthen their capacity and develop their business models leveraging on innovation to improve access to nutritious foods in Nigeria.
SBN Nourish Nigeria NutriPitch Eligibility
- Must be a Nigerian citizen (male or female).
- Must be between the ages of 25 and 50 as of January 2024.
- Must be the Founder, Owner manager, or CEO of a growth-stage agribusiness. venture. (Only one applicant per business will be accepted).
- Should have their Agribusiness focused on Nutrition and Innovation.
- Should have a good business model that focuses on reaching low-income consumers.
- Should have a unique/innovative marketing strategy.
- Should have a minimum of three (3) full-time highly skilled staff in a managerial capacity (excluding part-time staff and low/semi-skilled staff).
- Must have their Agribusiness venture registered with the Corporate Affairs Commission (CAC) and be currently operating and generating income.
- Must be available to participate FULL-TIME in the one-week boot camp and ALL other activities required throughout the program.
SBN Nourish Nigeria NutriPitch What they offer
The challenge seeks business models that address any of these thematic areas.
This challenge welcomes business models that address the challenges of innovative marketing of nutritious foods and increasing access to nutritious foods with an outcome of achieving profitability, food safety, and quality, as well as healthier diets for all.
Examples of solutions may include but are not limited to the following thematic areas:
Reaching lower-income consumers:
Business models that are designed to support and target the low-income market with the aim of increasing their access to nutritious foods.
Disruptive Technological Innovation:
Business models that promote the use of unique, innovative, and efficient technologies in the production, processing, and increasing accessibility of nutritious foods, with the aim of making nutritious foods accessible while keeping the product affordable and business profitable at the same time.
Innovative Marketing Campaigns: Business Models that, through exceptional marketing strategies, increase awareness and acceptability of nutritious foods in society.
- Capacity Building on
- Business Model Development for targeting low-income consumers.
- Developing an Effective 1–3-year Growth Plan
- Innovative Marketing for increased awareness of nutritious foods
- Nutrition and Food Safety
- Food systems
- Investment Readiness
- Business Pitch Skills
- Product Development (disruptive technological innovations)
- One-on-one mentoring for 6 months
- Up to 10,000,000 Naira to be shared amongst the winners of the pitch competition. (Terms and Condition applies)
- Professional Financial Services for the winners of the Close out/ Showcase event. (Terms and Conditions apply)
Deadline: December 3, 2023
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