Out of 14 business teams, eight have been selected to partake in the final round of the Kosmos Innovation Centre AgriTech Challenge.
The teams would have three months, that is, from July to September, to develop their business concepts and develop a Minimum Viable Product (MVP) before the final pitch.
The organization said the move will ensure that all the entrepreneurs have prototypes of their products ready to be tested by customers and investors by then.
A statement issued by Kosmos Energy also indicated that, “This element was added to the programme structure in 2017 and has proved to be very useful, giving teams the opportunity to really validate their products before the final pitch.”
However, the Kosmos Innovation Center intends to continue with this measure in future AgriTech Challenge programmes.
Teams will also be required to build a solid marketing and scalability plan prior to the final pitch.
This will draw on what they have learned from their capability and skills training sessions.
Joe Mensah, VP and country manager for Ghana also encouraged institutions to join hands with Kosmos Energy to support youth-led businesses to grow and develop.
“Together we can drive sustainable innovation in the agriculture sector and contribute to tackling Ghana’s youth unemployment challenge.
“By empowering one entrepreneur at a time, we are investing in a brighter future,” he added.
The AgriTech Challenge is an annual competition that encourages young entrepreneurs to take a look at the agriculture value chain and identify new business opportunities.
Afterwards, a panel of judges are called on to assess the business viability of each idea presented.
After which they proceed to compete in the finals.
Some teams found to have the most scalable, practical and innovative business concepts were, Farm Cure, Soil Solution, Growth Factor, and Tech Shelta.