The increase will encourage more entrepreneurs to pitch sustainable solutions towards ensuring food security and building resilient to climate crisis.

Mr Benjamin Gyan-Kesse, the Executive Director of KIC, who announced the AgriTech Challenge Classic 2023 final pitch in Accra, said the decision was in line with it aim to drive technology and innovation as a catalyst to enhancing productivity, improving yields, and creating more jobs in Agric.

The AgriTech Challenge Classic, supported by the Mastercard Foundation, will see a total of 50 teams, from 10 regions sharing a high-level pitch to a panel of experts.

He said the future of Africa’s prosperity was in technology and agribusiness, explaining that its combination could transform and create economic empowerment for the content’s youth.

“While the latter is a critical sector that requires attention, embracing it with the former and innovation will whip the interest of the youth. It, however, needs the right investments, and technology to ensure food security, reduce poverty and improve livelihoods,” he said.

Mr. Gyan-Kesse assured of KIC’s commitment towards shifting the paradigm on agriculture and agri-business agriculture by providing practical training, tools, network and resources for entrepreneurial development.

Nana Joe Mensah, the Board Chair of KIC, said agriculture’s potential for socio-economic development was yet to be developed to its potential.

“Agriculture will continue to be one of the most critical sectors of the economy. We have futile lands here and we have to be serious about what we do,” he noted.

He stated that the growing global population, and climate change impacts called for innovation in the sector to ensure sustainability.

Nana Mensah charged the participants to work hard, be disciplined, be serious about their innovations, and learn from like-minded people to widen their scope and grow.

He also urged them to leverage collaboration and peer learning to stimulate the growth of their businesses.

KIC began the AgriTech Challenge classic in 2016. This year, The AgriTech Challenge Classic is in its second year, when it comes to supporting students and young graduates, to develop innovative AgriTech solutions for the sector.

The programme seeks to unearth the entrepreneurial potential of young people and set them on a journey towards social transformation.