FarmSlate, a pioneering startup, has emerged as the winner of the First City Monument Bank (FCMB) Agritech Hackathon 2024.
The startup’s innovative solution leverages artificial intelligence, the Internet of Things, and geospatial analytics to bridge the financing gap for smallholder farmers.
As the top winner, FarmSlate received a cash prize of N3.5 million and will participate in a comprehensive venture-building program. This opportunity will enable the startup to further refine its solution and scale its impact.
The FCMB Agritech Hackathon, powered by Heave Ventures and supported by the Dutch Entrepreneurial Development Bank (FMO), brought together talented innovators to tackle pressing challenges in agriculture, including credit access, infrastructure, and food security.
Other notable winners included AgroGuardians, which secured the second-place prize of N2 million for its cutting-edge tool that helps farmers identify crop diseases and provides actionable recommendations in both English and local languages.
CarbonEx took home N1.5 million as the third-place winner for its innovative platform connecting regenerative farming projects with carbon reduction funding from global firms.
In addition to the top three winners, seven other promising startups – Agrocist, Seedo, Dinerpro Agroecosystems, Growsmart, Coconoto, Kaloka, and PAYGO Microinsurance – will join the venture-building phase.
This phase will provide essential support and resources to advance their agritech solutions and drive meaningful change in the agricultural sector.
Ifeoluwa Olatayo, representing FarmSlate, acknowledged the organizers’ contributions.
“The FCMB Hackathon was a unique experience. The insightful sessions helped us communicate our problem-solution statement effectively, and the well-managed process allowed us to participate remotely, which was a valuable opportunity.
We are glad our innovation won the hackathon, validating our solution and preparing us for launch and scale through the venture-building phase,” she said.
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