Key Takeaways:
- Fast Forward is launching a program to support up to 10 Nigerian livestock-tech startups, providing capital and company-building support.
- Selected startups will receive assistance in app development, growth marketing, PR, strategy, and operations.
- Fast Forward will invest up to $100K in at least three companies that achieve $20K MRR within six months.
- The initiative is supported by a grant from the German development agency GIZ.
- The program targets startups across the entire livestock value chain, including areas like vaccines, farm management, and predictive technologies.
Fast Forward, a venture studio with operations in the U.S. and Africa, has announced the launch of a new program aimed at bolstering Nigeria’s livestock and allied industries. The initiative will support a cohort of up to 10 startups building technology products specifically designed for the livestock sector, offering them crucial capital and company-building support.
Program Details and Support Offered
As part of this program, Fast Forward will provide selected startups with a wide range of resources and expertise. These include app development, growth marketing, public relations, strategy, and operations—all essential components for scaling a tech-driven venture. The program is designed to help these startups achieve robust unit economics and reach at least $20,000 in monthly recurring revenue (MRR) within six months.
To further incentivize success, Fast Forward has committed to investing up to $100,000 in at least three of the companies that meet the $20K MRR milestone within the specified timeframe. This financial backing will be accompanied by introductions to local and regional investors, as well as connections to global customers through Fast Forward’s extensive network.
Focus on Livestock-Tech Innovation
The program targets startups operating across the entire livestock value chain, reflecting the diverse needs of Nigeria’s agricultural sector. Categories of interest include vaccines and R&D, engineering and processing, health and monitoring, farm management, data and analytics, predictive technologies, financing, and business education. Fast Forward is particularly interested in ventures with a strong technological focus that can address the unique challenges faced by Nigeria’s livestock industry.
Supporting Nigerian Agriculture through Innovation
This initiative is supported by a grant from the German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, highlighting the global interest in fostering innovation within Nigeria’s agricultural sector. By targeting livestock-tech ventures, Fast Forward aims to catalyze the growth of startups that can enhance productivity, efficiency, and sustainability within the industry.
How to Apply
Fast Forward is now accepting applications from interested ventures. Startups with at least one co-founder are encouraged to apply, though single-founder companies will also be considered. The application form and additional details about the program can be accessed through the provided link.