In a major push to support innovation in Nigeria’s livestock industry, Fast Forward has announced the launch of a new initiative to incubate up to 10 livestock-tech startups. This October 2024 announcement highlights Fast Forward’s commitment to fostering commercially sustainable ventures in the agriculture sector through its venture studio model.
As part of the program, Fast Forward will back selected startups with capital, resources, and comprehensive company-building support, including app development, marketing, public relations, and operations. The goal is to help founders achieve strong unit economics and generate at least $20K in Monthly Recurring Revenue (MRR) within six months.
Startups that meet these milestones could receive up to $100K in additional investment from Fast Forward. Beyond financial support, the studio will introduce successful startups to regional investors and global customers, expanding their reach and opportunities. The program is supported by a grant from Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Germany’s development agency.
Criteria for Selection
Fast Forward is targeting startups that focus on the entire livestock value chain, including inputs, feeding, storage, genetics, breeding, vaccines, and aquaculture. Ventures with a tech-driven approach to solving challenges in these areas are encouraged to apply. While preference will be given to companies with at least one co-founder, single-founder startups will also be considered.
About Fast Forward
Fast Forward is a venture studio and early-stage fund that supports African founders in building tech companies aimed at unlocking prosperity across the continent. With a focus on infrastructure and platform plays, Fast Forward’s portfolio companies have gained traction in various sectors, attracting follow-on investments from accelerators like Y Combinator and Techstars. Notable startups backed by Fast Forward include Autogon AI, Pesa, Bumpa, and Cribstock.
