Founders Factory Africa, a South African investment firm founded by Roo Rogers and Alina Truhina, has announced a partnership with Small Foundation to select 18 agritech startups for investment.
“The partnership stands to make a huge impact across the continent by supporting agritech entrepreneurs who can innovate and boost the delivery of a variety of services to smallholder farmers and micro, small, and medium-sized enterprises in the agricultural sector,” the two companies said in a statement.
Small Foundation is a philanthropic organization based in Dublin that focuses on rural and agricultural development in Sub-Saharan Africa.
Small Foundation will make an undisclosed investment in Founders Factory Africa as part of this collaboration to help develop and scale agritech startups on the continent.
The partnership will provide these African startups with both financial and technical assistance.
Founders Factory Africa will be to provide financial and business support through its partnership with Small Foundation.
These startups will then join Founders Factory Africa’s business accelerator and incubation network, which will assist them in scaling up their operations and developing effective revenue models.
These startups will receive funding ranging from $100,000 to $250,000 as well as technical assistance.