Agrithon 1.0: 26 Startups Compete for N100m Grant as Lagos Set to End Food Insecurity
In a bid to ensure food security, 26 startups operating in the agricultural sector have pitched their innovative solutions to jurors in order to get N100,000 grants to upscale their operation as well as secure the future of the food system in the state.
The startups pitched at the Lagos Agrithon 1.0 finale held at Eko Innovation Centre, Lagos recently. The event attracted young innovators and entrepreneurs who are leveraging technology and new innovations to change the agricultural landscape.
According to the organizers, the grant will be shared among 20 of the startups who will be selected. Lagos Agrithon is organized by the Lagos Ministry of Agriculture & Food Systems department in collaboration with the Lagos State Employment Trust Fund (LSETF) and Eko Innovation Centre, supported by the Lagos State Government.
Over 300 startups initially applied for the grant, 50 were shortlisted to semi-finalist status, 31 became finalists, and the top 26 startups eventually pitched their unique solutions to Jurors.
The aim of the initiative is to empower startups to increase access to nutritious food for all, develop eco-friendly farming practices that will benefit the environment, and optimize food production and distribution systems for better output.
Speaking at the event, Olurotimi Fashola, Special Assistant to the Governor on Agriculture and Food Systems said the initiative would help revolutionise the state agriculture sector as more residents begin to understand that they don’t have to have large farms before they can practice agriculture.
“We’re modernizing Lagos’s approach to agriculture by shifting from large-scale land dependency to ‘grow what you eat’ practices,” Fashola said, adding that “With buckets, bags, and greenhouses, every resident can contribute to our food supply. This shift toward urban and small-scale agriculture is essential for Lagos’s sustainable food future.”
He also restated the commitment of the Governor Babajide Sanwo-Olu led government’s effort to ensure food security and help the country end about 40% of its annual food production loss which is estimated at about 100 million tons per year and could feed approximately 40 million people.
Victor Afolabi of Eko Innovation Center on his pat applauded the level of the innovations showcased by the startups and believes they will transform the industry. He added that his center plans to invest in some of the startups beyond the grant they will receive because their innovations will end food insecurity in the long run.
“It’s inspiring to witness young entrepreneurs embracing this often ‘unattractive’ space, demonstrating that agriculture holds great potential for Nigeria’s future,” he said.
Mrs. Feyisayo Alayande, the Executive Secretary of the Lagos State Employment Trust Fund (LSETF), represented by Oyindamola Egbeyemi, Director of Programs and Coordination, also commended the startups for the innovative solutions they showcased while she emphasized that her organisation will continue to support businesses to thrive as it offers single-digit interest loan.
“We are here to support businesses, and even if certain businesses may not receive grants, we are providing access to finance through loan programmes at single-digit interest rates, which is something you would not find at any commercial bank these days. We also support initiatives that bolster the economy,” she stated.