Apply for Fast Forward Venture Fund for Nigerians Up to 100m cash following the guideline below..
Fast Forward is an innovative venture studio and fund dedicated to unlocking Africa’s vast technological potential. We believe that the continent’s brightest entrepreneurs will lead the charge in transforming industries through groundbreaking tech companies.
In collaboration with GIZ’s Scaling Digital Agriculture Innovations through Start-ups (SAIS), Fast Forward is focused on incubating and validating sustainable livestock tech ventures right from their inception. Unlike traditional funding avenues that often support unsustainable projects, our approach is grounded in creating scalable, impactful solutions across the entire livestock value chain, encompassing inputs, feeding, genetics, vaccines, and more.
Investing in the Future
We are committed to investing up to $100,000 in each startup that demonstrates solid unit economics and achieves a minimum of $20,000 in monthly recurring revenue (MRR) or similar milestones. Initially, we aim to partner with ten startups, with a focus on those reaching these milestones within six months. Additionally, we leverage our extensive networks to connect these startups with local, regional, and global investors, ensuring they have the resources needed for growth.
Why Livestock?
The livestock sector plays a crucial role in driving GDP growth in Africa, often outperforming crop agriculture. Production cycles in livestock are generally faster, yet this sector remains underserved. Fast Forward aims to bridge this gap by investing in locally adapted and scalable solutions that promote sustainable practices across the industry.
Our Investment Thesis
Fast Forward’s investment strategy is built on several core principles:
- Customer-Centric Solutions: We prioritize ventures that address real customer needs, aiming for profitability even if it requires time and innovation.
- Backing Homegrown Innovation: We are enthusiastic about supporting innovative ideas at the prototype stage, understanding that initial profitability may not be immediate.
- Transformative R&D: We seek solutions that significantly reduce costs and improve efficiency for farmers. Our litmus test is simple: if a product is useful for farmers and can be tested in real-world scenarios, we want to support it.
Areas of Interest
We are particularly interested in innovative solutions within the following domains:
- Core R&D: Engineering advancements that drastically reduce operational costs without sacrificing efficiency.
- Open Drug and Vaccine Databases: Development of locally suitable vaccines and alternative solutions to existing products, enabling broader access and affordability.
- Efficient Manufacturing Solutions: Innovative business models that simplify manufacturing and processing, such as mobile slaughterhouses or cooperative processing units.
- Sharing Economy in Agriculture: Multi-tenant solutions that increase accessibility to technology and knowledge, fostering profitability for all participants.
- Free and Open Source Software: Solutions that can be offered free to farmers, supported by sustainable business models.
- Fintech Innovations: Tailored financial solutions that provide real value to stakeholders in the livestock sector, beyond generic wallet services.
Areas We Avoid
- Direct Farm Investments: We focus on ventures that can scale and impact multiple farms rather than individual farm investments.
- Crowdfunding for Crops: We exercise caution with crowdfunding initiatives that lack robust governance to prevent unsustainable practices.
- Unsustainable Business Models: We seek scalable solutions that can thrive without heavy reliance on grants or government support.
- Overhyped Tech: We expect technological solutions, such as AI or blockchain, to offer tangible benefits rather than serving as marketing buzzwords.
Conclusion
At Fast Forward, we are committed to fostering a wave of innovative startups that will reshape Africa’s agricultural landscape. By harnessing technology and investing in sustainable practices, we aim to drive long-term growth and positive disruption in the livestock industry.
If you’re an entrepreneur ready to make an impact, we invite you to apply and join us on this exciting journey.
