Farmdrive, a Kenyan mobile tech, agri-tech startup that looks to advance bankable farmer initiatives, has been named winner of the Thomson Reuters-organized Africa Startups Challenge.
The challenge sought the best and brightest startups in Africa that are using new technology and new business models to leap-frog the current players.
Following calls for applications, 14 startups, which had innovations in fields such as in Agri-tech, Big data analytics, Blockchain, Digital government and Education, were selected for the finals from more than 500 startups that applied.
At the Thomson Reuters 2016 Africa Summit, which held from October 13 – 14, 2016 in Cape Town, South Africa, FarmDrive was announced winner of the challenge.
FarmDrive aligns with Thomson Reuters bankable farmer initiative, which sets out to create credit risk profiles for smallholder farmers through partnerships with farming cooperatives, banks, NGOs and mobile startups.
FarmDrive was presented a US$10,000 prize at the Thomson Reuters Lab launch on October 14, 2014 in Cape Town, South Africa.
The challenge was organized in partnership with Venture Capital for Africa (VC4A) and The Cape Innovative and Technology Initiative (CiTi).