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Motsepe Foundation, Milken Institute unveils competition to help improve Africa’s agriculture value chain
Agriculture has an immense impact on the sub-Saharan population, and so any investment into this sector is very much welcome. The Milken Institute and the Motsepe Foundation have identified a need for funding, investment into mentorship and innovation in agriculture. They are offering a prize in Agritech of $2 million in a global competition for innovative solutions to increase economic value to farmers. Dr Precious Moloi- Motsepe, CEO of the Motsepe Foundation joins CNBC Africa for more.
Wed, 28 Apr 2021 10:55:01 GMT
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AI Generated Summary
- The Motsepe Foundation and Milken Institute collaboration aims to incentivize entrepreneurs and innovators worldwide to address challenges in Africa's agriculture sector through innovative solutions.
- The Milken-Motsepe Prize for Innovation in AgriTech offers a $2 million prize to support ideas that enhance agricultural productivity, reduce waste, and promote sustainability.
- The initiative is driven by the goal of leveraging technology to overcome infrastructural deficiencies, post-harvest losses, and inefficiencies in the agriculture value chain to achieve sustainable development goals.
The Motsepe Foundation and the Milken Institute have announced an ambitious partnership to tackle some of Africa's most pressing challenges in agriculture through innovation and technology. Dr. Precious Moloi-Motsepe, the CEO of the Motsepe Foundation, shared details of the partnership in a recent interview with CNBC Africa.
The partnership aims to incentivize entrepreneurs and innovators worldwide to develop groundbreaking solutions for Africa's agriculture sector. The newly launched Milken-Motsepe Prize for Innovation in AgriTech is a key component of this program, offering a $2 million prize to support innovative ideas that can enhance the productivity and yield of farmers.
Dr. Moloi-Motsepe emphasized that the competition is open to individuals and teams with a passion for improving the agriculture value chain, reducing waste, and promoting sustainability through technology. The focus of the competition's first phase will be on leveraging technology to overcome challenges faced by farmers from seed to sale.
One of the key motivations behind the initiative is Africa's vast untapped agricultural potential. Despite having the largest amount of uncultivated arable land globally, African nations import over $50 billion worth of food each year. Infrastructure deficiencies, post-harvest losses, and inefficiencies in the value chain contribute to these challenges.
Through the Milken-Motsepe Prize, the foundation aims to address these impediments and contribute to achieving sustainable development goals related to ending hunger and poverty on the continent. Dr. Moloi-Motsepe highlighted the urgency of enhancing food security and creating opportunities for Africa's youthful population.
The competition not only offers a substantial monetary reward but also provides additional support to participants. Finalists will receive $10,000 each to develop their prototypes, with expert judges evaluating the solutions to determine the ultimate winner of the $1 million grand prize.
In a commitment to inclusivity, the program includes special mentorship and resources for women and youth participants. Dr. Moloi-Motsepe emphasized the importance of ensuring that underrepresented groups are empowered to contribute to and benefit from the agricultural innovation ecosystem.
As Dr. Moloi-Motsepe concluded the interview, she expressed excitement about the potential impact of the competition, inviting individuals and teams to join the initiative and harness the power of technology to transform Africa's agriculture sector.
The Milken-Motsepe Prize not only represents a significant investment in agricultural innovation but also signals a collaborative effort to drive meaningful change in one of the continent's most critical sectors.
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