Nigeria - Business creation project

Describe your project or startup in a few words

EcoAgric is a comprehensive digital solution that integrates IoT, AI, and mobile technology to enhance agricultural productivity, sustainability, and market access for farmers. With real-time farm monitoring insights, supply chain and financial services.

01.01 Describe your project in more detail

EcoAgric is a platform aimed to drive technological growth in Nigeria agricultural sector. We aim to deploy a user-friendly mobile app that delivers personalized farming advice, market prices, use data analytics to provide farmers with actionable insights for optimizing irrigation, fertilization, and pest control. Additionally, it offers access to microloans, insurance, by creating a channel to microfinance institutions to offer farmers access to credit, savings, and insurance products. We would also integrate the use of AI to assess creditworthiness. Special programs empower women farmers with resources and training. By integrating these advanced technologies, the platform aims to increase crop yields, reduce waste, and enhance the livelihoods of Nigerian farmers, driving sustainable agricultural development and food security.

01.02 What is the main problem you are trying to solve?

In Nigeria, agricultural inefficiency and food insecurity present formidable challenges that hinder the country's socio-economic development and threaten the livelihoods of millions of people. These issues are deeply rooted in a complex web of factors including inadequate access to modern farming techniques, limited market opportunities, financial exclusion among smallholder farmers, gender disparities in agricultural resources, and unsustainable farming practices. Market access is another critical issue plaguing Nigerian farmers. Many smallholder farmers lack access to reliable market information and face challenges in reaching buyers willing to offer fair prices for their produce. The absence of efficient supply chains further increase these issues, leading to significant post-harvest losses and reduced incomes for farmers who are already vulnerable to economic shocks. Furthermore, to addresses the financial barriers faced by farmers.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

1. Enhanced Productivity: The platform utilizes IoT and AI to provide real-time data and insights, enabling farmers to optimize farming practices, increase crop yields, and improve overall productivity. 2. Improved Market Access: Farmers gain access to accurate market information, fair pricing, and direct connections with buyers, reducing dependency on middlemen and increasing profitability. 3. Financial Inclusion: The platform offers tailored financial services such as microloans and insurance, empowering farmers to invest in their farms, manage risks, and build financial resilience.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

The project is aimed at serving majorly smallholder farmers in Nigeria, particularly focusing on empowering them with technology-driven solutions to enhance productivity, improve market access, and promote financial inclusion.

01.05 When did you start working on your project?

2024-04-18

01.06 How many other partners are associated with your business venture?

2

01.07 Among the other partners, how many are female?

1

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

A technology experts An entrepreneur and Sales Manager

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

01.10 Which industry best describes your project?

l) Agriculture

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

By enhancing agricultural productivity and market access, the platform helps increase incomes for smallholder farmers, thereby reducing poverty among rural communities.

02.02.01 My project contributes to the Zero hunger goal

7 - Strongly Agree

02.02.02 Zero hunger - Justification

The platform improves food security by increasing crop yields, reducing post-harvest losses through better market access, and promoting sustainable farming practices.

02.03.01 My project contributes to the Good health and well-being goal

4

02.03.02 Good health and well-being - Justification

02.04.01 My project contributes to the Quality education goal

3

02.04.02 Quality education - Justification

02.05.01 My project contributes to the Gender equality goal

6

02.05.02 Gender equality - Justification

Special initiatives for women farmers promote gender equality by providing equal access to resources, training, and financial services, empowering women as active participants in agricultural development.

02.06.01 My project contributes to the Clean water and sanitation goal

3

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

2

02.07.02 Affordable and clean energy - Justification

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

By boosting agricultural productivity and connecting farmers directly to markets, the platform creates economic opportunities and promotes inclusive economic growth within the agricultural sector.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

The platform leverages IoT, AI, and mobile technology to innovate agricultural practices, improve infrastructure and enhance productivity and efficiency in the sector.

02.10.01 My project contributes to the Reduced inequalities goal

2

02.10.02 Reduced inequalities - Justification

02.11.01 My project contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification

Improved agricultural productivity and sustainability contribute to rural development, reducing urban migration pressures and promoting sustainable communities in rural areas.

02.12.01 My project contributes to the Responsible consumption and production goal

4

02.12.02 Responsible consumption and production - Justification

02.13.01 My project contributes to the Climate action goal

7 - Strongly Agree

02.13.02 Climate action - Justification

The platform promotes sustainable farming practices that mitigate climate change impacts, such as soil degradation and water scarcity, thereby contributing to environmental resilience.

02.14.01 My project contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

2

02.15.02 Life on land - Justification

02.16.01 My project contributes to the Peace justice and strong institutions goal

2

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

6

02.17.02 Partnerships for the goal - Justification

Collaboration with various stakeholders, including government agencies, NGOs, and private sector partners, fosters partnerships necessary for scaling impact and achieving sustainable development outcomes.

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

5

05.02 The product/service we envision creating represents an entirely new type of product/service.

4

05.03 The product/service we envision creating could be described as a new technology.

4

05.04 The product/service we envision creating is an improvement on an existing product or service.

7 - Strongly Agree

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

4

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

6

05.07 The product/service we envision creating is a new version of an old product/service.

3

05.08 Justification

EcoAgric innovatively integrates IoT, AI, and mobile technology to empower farmers, optimize resource use, and ensure sustainable agricultural practices, thereby fostering community and economic growth.

05.09 Who are your main potential competitors and what makes you stand out from them?

The main potential competitors for EcoAgric platform in Nigeria include existing AgriTech companies like Farmcrowdy, Thrive Agric, and AgroMall, which offer various solutions ranging from crowdfunding for agriculture to digital farm management and market linkages. What makes us stand out from these competitors is our comprehensive integration of IoT, AI, and mobile technology to provide real-time data analytics for farmers. This approach not only enhances productivity and market access but also promotes sustainability through tailored financial services, gender inclusivity programs, and a focus on climate resilience. By combining these elements into a cohesive platform, we aim to address multiple facets of agricultural inefficiency in a holistic manner, technologically and advancing a sustainable agricultural development in Nigeria.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

academically