FCMB, FMO, EU back Nigerian Agritech startups in eighth venture-building programme

First City Monument Bank (FCMB), the Dutch Entrepreneurial Development Bank (FMO) and the European Union are backing the eighth season of an Agritech programme aimed at helping Nigerian startups turn technology-based agricultural solutions into investable and scalable businesses.

FCMB, in partnership with FMO, the European Union and Heave Ventures, has opened applications for the 2026 FCMB Agritech Hackathon and Venture Building Programme. The initiative is designed to identify and support startups developing technology-driven solutions to challenges across Nigeria’s agricultural value chain, including productivity, access to finance, market access, climate resilience and supply-chain efficiency.

Top participants will have the opportunity to access up to ₦20 million in funding, alongside expert mentorship, technical support, strategic partnerships and access to investors, agribusiness executives, innovation experts and other industry stakeholders.

Applications will remain open at on.fcmb.com/AgricTech-Hackathon.

Selected participants will undergo a venture-building programme focused on strengthening their business models, refining products, improving investment readiness and accelerating market growth. The programme will also connect participating businesses with development finance institutions, investors and ecosystem partners.

“Innovation is fundamental to building a resilient, productive and globally competitive agricultural sector,” said Kudzai Gumunyu, Divisional Head, Agribusiness and Non-Oil Exports at FCMB. “Across Nigeria, young entrepreneurs are developing technology-driven solutions capable of addressing some of agriculture’s most pressing challenges, from productivity and financing to market access, climate resilience and supply-chain efficiency.”

Gumunyu said the programme was designed to help entrepreneurs move beyond developing solutions to building businesses capable of attracting investment and delivering economic and social impact.

“By bringing together development finance institutions, innovation experts, investors and ecosystem partners, we are creating a platform that helps entrepreneurs move from promising ideas to scalable businesses capable of delivering measurable economic and social impact,” he said.

For Heave Ventures, which is supporting the venture-building component of the programme, the focus is on helping founders bridge the gap between innovation and commercial scale.

“Many Agritech startups have demonstrated that technology can solve real problems across Nigeria’s agricultural value chain, but moving from a promising solution to a sustainable, investment-ready business requires more than a good product,” said Abiodun Lawal, CEO of Heave Ventures. “This programme is designed to give founders the practical support, networks and market exposure they need to strengthen their businesses, attract capital and build solutions that can scale.”

The programme has previously supported Agritech ventures including Crop2Cash, ColdHubs, Agrocist, Farm Slate, Qiqi Farms, Achesa, Farm Monitor, Tuplant, Llyon Farms, AgriX, Freshfare and PalmShops.

These businesses have developed technology-enabled solutions across areas including agricultural productivity, market access, financial inclusion and value-chain development, contributing to job creation and wider participation in Nigeria’s agricultural economy.

The latest season builds on the partnership between FCMB, FMO, the European Union and Heave Ventures to develop a pipeline of Agritech businesses that can strengthen Nigeria’s agricultural sector, attract investment and expand access to technology-driven solutions across the value chain.