Fidelity Bank, in collaboration with Innohub has held a bootcamp for agritech businesses under the GreenTech Innovation Challenge Programme.
This initiative seeks to help empower and scale entrepreneurs with innovative GreenTech ideas and businesses within the agricultural sectors
It also provided a platform for the entrepreneurs to learn about growth, scalability, and sustainability practices in preparation for a pitch competition as 15 among the about 33 who attended the bootcamp stands a chance to benefit from GHȼ1million Grant.
This effort underscores the growing recognition of the vital role technology and innovation play in addressing food security and sustainability challenges in the country.
Speaking to the media at the event, Nelson Amo, Executive Director of Innohub, emphasised the urgent need for modernied approaches in agribusiness.
“If we are looking at food security in Ghana and Africa, we can keep doing farming and agribusiness the traditional way,” he stated
He highlighted the critical role of innovators in driving efficiency across the agricultural value chain, from farming practices to post-harvest management.
He reiterated that the agribusiness sector offers substantial opportunities, but success hinges on supporting entrepreneurs with the resources and training they need.
As such, the GreenTech Innovation Challenge seeks to bridge this gap by providing targeted support to young innovators.
“This is where Fidelity Bank’s GreenTech Challenge comes in. It provides support for these young innovators in three different stages, offering training and crucial capital in the form of grants to help grow their ventures,” Mr. Amo explained adding that Innohub has been instrumental as an implementing partner, working closely with Fidelity Bank to select participants, manage the bootcamp, and deliver essential training to the entrepreneurs.
For her part, Nana Yaa Afriyie Ofori-Koree, Head of Partnerships, Sustainability, and CSR at Fidelity Bank, highlighted the importance of the initiative as part of the bank’s broader commitment to sustainable development and local economic stimulation.
“As a bank, one of our key areas is providing solutions to national problems, and we see that agriculture is a sector that needs stimulation and support,” she said.
Ms. Ofori-Koree noted that the GHȼ1 million grant is specifically carved out to strengthen agricultural entrepreneurs, complementing Fidelity Bank’s existing efforts through the Fidelity Young Entrepreneurs Fund.
She also stressed that the bank’s support extends beyond just financial assistance, saying “We always add on technical assistance, which comes in the form of mentoring support because we know that you need to handhold entrepreneurs throughout their journey”.
The challenge attracted significant interest, with 197 applicants vying for a place in the programme. Ultimately, 33 participants were selected to take part in the bootcamp, where they received intensive training and mentorship. From this group, 15 agritech businesses will receive grants totaling GHȼ1million.
The grants are structured to provide GHȼ60,000 to ten ideation-stage businesses, GH¢100,000 to four scale-ups, and GHȼ200,000 to a commercial business, all aimed at enhancing their operations and scaling their impact.
