Twenty-six (26) startups in the agriculture sector have pitched their business expansion initiatives to the Lagos State government for an opportunity to share in the N100 million grant set aside by the state for the growth of MSMEs in the agriculture business.
The overall purpose of the grant in the ‘Lagos Agrithon’ concept is to unlock innovation in the agriculture and food value chain and empower the next generation of startups to drive change in Nigeria’s food system.
Out of the 26 startups, Lagos State government, through the ministry of Agriculture, will select the first 20 startups and allocate the grant among them according to their needs.
The project is led by Lagos State government through its agric department and supported by Lagos State Employment and Trust Fund, LSETF and Eko Innovation Center.
Olurotimi Fashola, special assistant to the governor on Agriculture and Food Systems, told BusinessDay at the pitch event that the programme, which is the maiden edition, started with over 100 applicants. He said the number was cut to the best 26 who presented their expansion ideas to the jurors.
He was excited about the innovation displayed by the startups including drying foods like tomato, pepper for preservation; coconut processing; honey harnessing; fish rearing; mechanised system for farming without season; and food packaging to checkmate food losses.
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It is estimated that currently, Nigeria loses about 40% of its annual food production which approximately amounts to 100 million tons of food per year which is enough to feed 40 million people.
Olurotimi Fashola, further said that “when it comes to food sustainability and security in Lagos State, we have always mentioned that we are moving away from the concept that Lagos does not have land to the concept of grow what you eat. This means that you can grow in the space you have. You have the buckets, bags, green houses.
“We are doing modernisation and cultivation in Lagos State. This is where the sustainability is. The future of Lagos is not on the big lands, but everybody growing something to reduce the importation to Lagos”
Fashola commended Sanwo Olu, governor of Lagos State for championing the initiative in the agric sector for food security.
Victor Afolabi of Eko Innovation Center, explained that the initiative is to see how Lagos state can begin to build the pipeline of the next future of agric-preneurs, who are using technology to scale and support the food safety and food security of the state.
He said food safety and food security is germane to the state bearing in mind that Lagos has a large population of over 20 million.
Afolabi who expressed excitement on partnering with Lagos State government on the noble initiative said it is exciting to see young people take on that ‘’unattractive’’ agriculture space. “Some young people don’t want to be there, but from what we have seen today through their presentations, it has shown there is great potential”.
Funmi Omoyele, coordinator of the programme said the winners of the grant will go through mentorship to shape their business ideas better.
Other guests at the event commended the managers behind the startups, many of who did not study agriculture but eventually found themselves in the agric value chain business. In addition to the expected grants, some of the startups are equally seeking equity investments into their projects to scale the business which will further create jobs.
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