FCMB, Dutch Bank launch N20m AgriTech scheme for startups

First City Monument Bank (FCMB) and the Dutch Entrepreneurial Development Bank (FMO) have unveiled a N20 million AgriTech Investment Readiness Programme aimed at supporting Nigerian startups and small- to medium-sized enterprises in agriculture. The initiative, launched in partnership with Heave Ventures, seeks to identify and prepare agritech businesses for investment while improving their access to […]

First City Monument Bank (FCMB) and the Dutch Entrepreneurial Development Bank (FMO) have unveiled a N20 million AgriTech Investment Readiness Programme aimed at supporting Nigerian startups and small- to medium-sized enterprises in agriculture.

The initiative, launched in partnership with Heave Ventures, seeks to identify and prepare agritech businesses for investment while improving their access to capital. The programme features a competitive grant pool of N20 million, which will be awarded to ventures adjudged most investment-ready.

Applications opened on August 8 and will close on September 12, 2025. The top 20 startups will be selected for a six-week intensive training, ending with a pitch session before investors in October.

According to FCMB’s Divisional Head of Agribusiness and Non-Oil Exports, Mr. Kudzai Gumunyu, the initiative goes beyond conventional financing.

“This programme is more than providing traditional funding; it is a commitment to nurturing and empowering agritech startups to contribute to the agribusiness landscape and unlock its full potential,” he said.

He added that the initiative would prepare entrepreneurs for investment opportunities and position them to play a stronger role in the country’s agricultural sector.

Speaking on the broader impact, Chief Executive Officer of Heave Ventures, Abiodun Lawal, noted that scaling agribusiness innovation could transform value chains from production to exports, generate millions of jobs, and boost foreign exchange earnings.

“Investing in agribusiness is an investment in the continent’s economic independence, resilience against global challenges, and the dignity of its people,” Lawal said.

The programme will also utilise Zimara, a proprietary platform that uses alternative data and readiness benchmarks to assess the bankability of participating ventures.

FMO, FCMB’s partner in the programme, is the Dutch entrepreneurial development bank with a mandate to promote inclusive and sustainable prosperity.