My 500K AgriBusiness Idea Competition: Do you have a groundbreaking agricultural business idea or a business that leverages technology in marketing, production, or sales?
Agroye is calling all young agripreneurs to apply for the 2024 My 500K AgriBusiness Idea Competition.
Join the Scholars World community on X (Twitter) to explore the world of opportunities!
A sum of ₦1m in cash prizes will be shared among top entries submitted for the competition. Whether you’re just starting or aiming to scale, here’s your chance to win big!
In this post, the full details of the eligibility, benefits, timeline, and application procedure will be provided.
My 500K AgriBusiness Idea Competition Abstract
- Host: Agroye
- Location: Nigeria
- Category: Competitions || Trainings
- Benefits: ₦1m Prizes
- 1st: ₦500K
- 2nd: ₦300K
- 3rd: ₦200K
- Eligibility: Nigeria
- Deadline: October 12, 2024
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My 500K AgriBusiness Idea Competition Details
My 500k Agribusiness Idea Competition, designed to inspire young entrepreneurs to transform their agribusiness concepts into business plans and grow them regardless of scale into successful ventures.
Agroye is an Agri-tech startup with an aim of growing the number of farmers in Africa and beyond.
By participating in this competition, you agree to comply with these Terms and Conditions. Please read them carefully before submitting an application.
My 500K AgriBusiness Idea Competition Benefits
The prizes for the competition are as follows:
- 1st Place – ₦500,000
- 2nd Place – ₦300,000
- 3rd Place – ₦200,000
Explore more scholarship opportunities below.
Selection Criteria for Agroye 500K AgriBusiness Idea Competition
- Business Relevance and Feasibility: How viable and relevant is the business idea to the agricultural sector?
- Resource Management and Financial Projections: How well are the resources managed, and are the financial projections realistic and achievable?
- Community Impact: What positive impact will the business have on the community?
- Use of Technology: How effectively does the business utilize technology?
- Unique Solution to an Existing Problem: How innovative is the proposed solution to a problem in the agriculture sector?
- Note: Al generated and plagiarised proposals will be disqualified
Agroye 500K AgriBusiness Idea Competition Requirements
To be eligible for the Agroye 500K AgriBusiness Idea Competition, applicants must satisfy the following conditions:
- Participants must be between the ages of 18 and 35 at the time of entry.
- Participants must have a new business idea or a business registered no later than 2 years prior to the start date of the competition (2nd September 2024).
- For participants with a registered business, the annual revenue must not exceed 1 million Naira.
How To Apply for My 500K AgriBusiness Idea Competition 2024
To apply for the My 500K AgriBusiness Idea Competition, follow the instructions we have outlined below;
- Read the information we have provided on this webpage and ensure your eligibility
- Participants must prepare a business plan / pitch document that requires a ₦500,000 capital investment. An optional guide template is available for use.
- Create a 1-minute video with your team, introducing your business idea, and post it on any social media platform using the hashtag #500kagribusiness and tag Agroye’s official social media account.
- Fill out the competition entry form available on the Agroye website, submit the link to your video, and upload your business plan / pitch document.
- Entry into this Competition is free!
- All entries must be submitted no later than 11:59 PM WAT on 12th October 2024. Late entries will not be considered.
Begin your application by clicking on the button below.
Selection Process
- The competition will run from 2nd September 2024 to 12th October 2024.
- The top 5 finalists will be announced on 21st October 2024 on Agroye’s official social media platforms and website.
- The top 5 finalists will be required to participate in an online pitch session scheduled for 26th October 2024.
- Winners will be selected by a panel of judges appointed by Agroye, based on the criteria outlined in Selection Criteria Section.
- The selection process is not based on chance, luck, or any personal connections. All entries will be judged fairly and impartially based solely on their merit and the criteria listed
Deadline: October 12th, 2024
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