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The Zero Hunger Roundtable – a multi-sector forum aimed at collectively addressing food challenges – today launched an initiative to foster innovative approaches to end hunger, championed by Nigeria’s entrepreneurs.
Ten cutting edge start-ups have been selected to take part in the first “Zero Hunger Sprint – Nigeria’s Innovation Challenge”. Participants will compete for a cash prize fund of $250,000, mentorship from an investor company, and a six-months Sprint Programme designed by the United Nations World Food Programme (WFP).
“Nigeria’s private sector is alive with ideas. We need to tap into that energy to ensure there is enough nourishing food for everyone”, says Simone Parchment, WFP Deputy Country Director. “WFP is excited to do this in Nigeria which leads the way in showing how African solutions and home-grown talent can help solve global problems”.
Starting this week, the innovators (listed below) will take part in a customised bootcamp facilitated by the WFP Innovation Accelerator. Based in Munich, Germany, this is an initiative designed to fast track innovative solutions to food crises and help end hunger worldwide.
During the bootcamp, experts help teams sharpen their concepts and refine plans for success.
The initiative and the backing it receives help to support and contribute to Nigeria’s own efforts at achieving Sustainable Development Goal (SDG) 2 – which aims to bring an end to hunger.
“The tremendous challenges posed by the COVID-19 pandemic have exposed the fragility of our food systems. Transforming food systems to make healthy diets affordable to everyone is vital,” says Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation.
Inflation, combined with job losses due to the COVID-19 pandemic and persistent income inequality, continue to aggravate food insecurity and malnutrition. Since the start of the pandemic, food prices have increased more than 22 percent.
“This challenge will act as a bridge connecting private sector investors with start-ups,
stimulating innovative solutions geared towards more affordable and accessible food in Nigeria”, says MD Ramesh, Group CEO, Agribusiness, TGI Group.
The finalists will showcase their proposals at a pitch event on the 30th July 2021 in Lagos to a group of leading private sector investors: TGI Group, Heineken, Promasidor, Tolaram Group, Guinness Nigeria Plc.
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