Applications are now open for the 2024 edition of the MEST Africa Challenge, an initiative by the Meltwater Entrepreneurial School of Technology (MEST Africa) in partnership with the Norwegian Embassy. This year’s challenge targets early-stage agricultural technology (AgriTech) startups in West Africa, offering a $50,000 equity funding prize to the winning startup.
A Platform for AgriTech Innovation
The MEST Africa Challenge aims to identify and support exceptional AgriTech entrepreneurs addressing critical agricultural challenges in West Africa. The winning startup will not only receive substantial funding but will also gain access to MEST’s extensive global network, unlocking valuable partnerships, mentorship, and investment opportunities to accelerate their growth.
In the rapidly evolving AgriTech landscape, innovation requires the right conditions to thrive. However, many African entrepreneurs face significant challenges in accessing the resources and networks needed to bring their ideas to life. The 2024 MEST Africa Challenge, now in its sixth edition, seeks to bridge this gap.
“Find Your Soil”: The 2024 Theme
This year’s challenge is themed “Find Your Soil,” offering startups the opportunity to discover the ideal environment where their vision can flourish. Ashwin Ravichandran, Portfolio Advisor at MEST Africa, emphasized the importance of supporting the AgriTech ecosystem. “’Find Your Soil’ is a call to action for AgriTech innovators to discover the ideal environment where their vision can flourish. Through the MEST Africa Challenge, we aim to support this ecosystem by providing the necessary resources, visibility, and strategic support for these entrepreneurs to thrive,” Ravichandran said.
MEST Africa remains committed to fostering job creation and economic growth across the continent through software entrepreneurship. By offering specialized tech entrepreneurial training and investment opportunities, the organization empowers Africa’s brightest minds to build and scale impactful businesses.
Eligibility Criteria for the MEST Africa Challenge 2024
The challenge is open to AgriTech startups from key West African markets, including Benin, Cape Verde, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mauritania, Nigeria, Senegal, Sierra Leone, Mali, and Togo. To qualify, startups must meet the following criteria:
- Early-Stage: Startups should be no older than three years.
- Revenue: Must have a minimum of $5,000 in monthly recurring revenue, with evidence of accruing this revenue over at least six months.
- Funding: Must not have raised more than $1 million in cumulative funding.
- Team: Must have at least two founding team members.
- Registration: It is preferable for startups to be registered in Delaware.
- Business Model: Open to B2B, B2C, B2B2C, B2G, and other models.
- Language: All participants must be able to pitch in English.
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Timeline and Application Process
Applications for the MEST Africa Challenge 2024 will close on October 4, 2024. The top 20 participants will be announced on October 14, 2024. Virtual semi-finals are scheduled for October 29-30, 2024, with the in-person finals to be held at a later date, yet to be announced.
MEST Africa’s Legacy and Impact
Since its inception, MEST Africa has invested over $30 million into training more than 2,000 entrepreneurs and has supported the launch of 90 early-stage tech startups across various sectors, including AgriTech, FinTech, SaaS, eCommerce, Digital Media, and Healthcare. The 2024 MEST Africa Challenge presents an unparalleled opportunity for AgriTech entrepreneurs to “Find Their Soil” and elevate their businesses to the next level.
AgriTech entrepreneurs interested in applying can click here to submit their applications.