Firm wins Gitex Africa competition in Kaduna for Ag-Tech platform innovation
At the grand finale of the Gitex Africa Startup Roadshow in Kaduna, FARMATRIX emerged as the winner among local startup owners, showcasing innovative ideas to bridge the gap between buyers and suppliers of agricultural products. Spearheaded by Nyifarmu Manzo, the app offers a mobile/web-based Ag-Tech platform facilitating trade, storage, and delivery of agricultural commodities. Since its launch, FARMATRIX has generated over N70 million in revenue.
Organized by Pinnacle International Consulting LLC, a USA-based subsidiary of Gitex, the competition featured startups from Kaduna competing for spots in the upcoming Gitex show in Marrakech, Morocco. FARMATRIX, recognized for its innovative approach, secured a place alongside SpecX Care Limited, a healthcare innovation app that claimed the second position.
Akande Ojo, President and CEO of Pinnacle International Consulting LLC, highlighted FARMATRIX’s success and announced its participation in the Northstar Africa startup competition later this year. Shuaib Bello, Senior Special Assistant to the Kaduna State Governor on ICT, emphasized the state’s commitment to fostering innovation by infusing N250 million into local startups, serving as venture capital with potential returns. He credited the strategic partnership between Governor Uba Sani and the Dubai World Trade Centre for facilitating the Gitex Roadshow 2024. Source: The Guardian
OUR REVIEW
FARMATRIX’s victory at the Gitex Africa Startup Roadshow underscores the growing importance of Ag-Tech solutions in Africa’s agricultural landscape. By facilitating efficient trade, storage, and delivery of agricultural commodities, FARMATRIX addresses critical challenges in the agri-food value chain, benefiting both buyers and suppliers. This success highlights the potential for technology-driven solutions to drive innovation and growth in the agricultural sector, ultimately fostering economic development.
The recognition of FARMATRIX’s innovative approach at an international platform like Gitex signifies the global relevance of African agri-food startups. As FARMATRIX prepares to participate in the Northstar Africa startup competition, it exemplifies the potential for African startups to compete and excel on a global scale.
The commitment of the Kaduna State government to support innovation, as evidenced by the infusion of N250 million into local startups, further underscores the importance of public-private partnerships in driving entrepreneurship and economic growth. This strategic investment serves as a catalyst for fostering a conducive environment for innovation and entrepreneurship in the region.
