The Scaling Up Nutrition Business Network (SBN) collaborates with FATE Foundation to host the 2023 SBN Annual Pitch Competition. FATE Foundation, an enterprise support organization with over 22 years of experience, is partnering in this Business Model Research project. This initiative is part of a larger EUR80 million program spanning six African countries, including Benin, Ethiopia, Kenya, Mozambique, Nigeria, and Uganda.
The partnership’s objective is to discover innovative business models that prioritize providing affordable nutritious food to low-income consumers while ensuring profitability. The project also aims to offer technical assistance to nutrition-focused entrepreneurs in Nigeria, enhancing their capacity and business models through innovation.
Eligibility criteria for applicants include being a Nigerian citizen aged 25 to 50 as of January 2024, serving as the Founder, Owner manager, or CEO of a growth-stage agribusiness venture, and focusing on Nutrition and Innovation. The business should have a solid model targeting low-income consumers, employ innovative marketing strategies, and have at least three full-time highly skilled staff in managerial roles.
The challenge seeks business models addressing themes such as reaching lower-income consumers, disruptive technological innovation, and innovative marketing campaigns promoting nutritious foods. Solutions may include supporting the low-income market, utilizing innovative technologies, and implementing exceptional marketing strategies.
The program offers capacity building on business model development, a 1–3-year growth plan, innovative marketing, nutrition and food safety, food systems, investment readiness, business pitch skills, product development (technological innovations), one-on-one mentoring for six months, and funding of up to 10,000,000 Naira for pitch competition winners. The application deadline is December 3, 2023.
HOW TO APPLY FOR SBN NOURISH NIGERIA
