O-Farms journey
O-Farms Accelerator Program 2024
Making the most of food
O-Farms, the first East-African SME accelerator completely focused on circular agribusiness, is going into its next phase with a mission to make circular principles mainstream in the region’s agriculture and food sector. O-Farms encourages innovative business solutions in Kenya and Uganda that bring food losses and by-products back into the food system. This initiative is crucial as East Africa faces challenges in producing enough safe and nutritious food while minimising environmental impact.
O-Farms offers unique support for SMEs in the agri- and food sector to strengthen their circularity and their business model. Instead of one-off workshops, we offer practical, long-term, tailored technical assistance. Instead of pitch deck templates, we support SMEs application for revenue-based financing from our dedicated Investment Fund.
O-Farms is an accelerator program launched by Bopinc and Biovision Africa Trust, Unconventional Capital in collaboration with the IKEA Foundation.
What are we looking for in applicants?
We are looking for established SMEs in the agri- and food sectors with revenues from sales, a commitment to circular principles, and the potential to generate returns while growing their impact and reducing food losses. Achieving circularity is a journey, and O-Farms 2 welcomes two types of SMEs:
- Circular agri- and food SMEs: These SMEs already implement circular practices such as producing products from otherwise wasted materials, helping other businesses to be more circular, and implementing circular principles in the management of resources and materials. They may already reintegrate agricultural food losses or byproducts into the food system through:
- Processing into ingredients for human food consumption
- Processing into ingredients for animal feed
- Developing biodegradable packaging materials for the food and beverage industry
- Producing organic fertilizer or compost for agricultural production
- Generating bioenergy for agricultural value chains
- Agri- and food SMEs with a clear ambition to become circular: These SMEs may already have a mature linear business model but recognize the benefits of circular practices and are ready to invest in becoming more circular. They plan to launch a new circular product line or improve the management of their resources and materials through circular principles. Leveraging their existing customer base, supply and distribution channels, and know-how, they have the potential to: reduce food losses, create new economic opportunities, improve social inclusion in their value chains.
Overview
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August 26, 2024
| Organizer | Bopinc |
| Website | Visit website |
| Targets | Kenya, Uganda |
| Sectors | Agribusiness, Agritech |
Selection criteria
Eligible* applications will be evaluated based on the following criteria:
- Suitability for O-Farms – Do you want to improve circularity and are you interested in revenue-based finance? (25%)
- Impact – Does your business model have the potential to reduce food losses, create decent jobs, and benefit low-income groups, women and other disadvantaged groups? (25%)
- Desirability – Do customers want your product? (15%)
- Viability – Is your business able to generate revenues to be financially sustainable? (15%)
- Feasibility – Do you have access to essential channels, resources, expertise? (10%)
- Eligibility to the Investment Fund – Do you have 35%+ gross margin and USD 5000+ average monthly revenue? (10%)
*See the eligibility criteria below.
Eligibility Criteria
- SME located in Kenya or Uganda.
- Operating in the agri-food sector.
- Operational for a minimum of 2 years.
- Generating sales revenue for at least 1 year.
- Engaged in or aspiring to adopt circular economy practices.
What do you offer selected participants?
Selected participants will benefit from:
- Tailored, Practical Support: Specific, action-oriented support to meet the needs of different business models. We take time to really understand what your SME needs and offer individualized support.
- Long-Term Technical Assistance: 12-month-long technical assistance journey with a needs-based approach.
- Policy Influence Opportunities: Chances to influence policy changes to create a more conducive environment for circular SMEs.
- Circular Transition: Assistance for non-circular SMEs to transition to circular models, and supporting all to become even more circular.
- Peer-Learning: Regular workshops and meetings aimed at fostering new strategic connections, knowledge sharing and collaboration for SMEs.
- Extended Assistance: Receive up to 30 days of technical support from us, plus additional help from external specialists with expertise matching your specific needs.
- Revenue-Based Financing: Get assistance to apply for revenue-based financing from the O-Farms Investment Fund.
- Commercial Experience: Develop a solid track record with commercial financing and move beyond small grants.
Target Sub-Sectors
We welcome applications from all sectors within food and agriculture. However, the following sectors present substantial opportunities for circular agribusiness models, allowing numerous business ventures to reintegrate agricultural food losses or byproducts back into the food system in Kenya and Uganda:
- Crops: Includes oil and nut crops, root crops, pulses, plantains, cereals, and grains
- Horticulture: Covers fruits, vegetables, and industrial crop processing
- Livestock: Encompasses cattle, goats, sheep, pigs, and poultry
- Fisheries: Such as Nile perch and tilapia
