FCMB and FMO Launch ₦20 Million Agritech Investment Programme for Nigerian Startups

First City Monument Bank (FCMB), in partnership with the Dutch Entrepreneurial Development Bank (FMO), has unveiled a bold new initiative aimed at accelerating innovation in Nigeria’s agricultural technology sector. The newly launched FCMB–FMO AgriTech Investment Readiness Programme 2025 is designed to identify and empower high-potential agritech startups and SMEs across the country.

Developed in collaboration with Heave Ventures, the programme seeks to bridge the funding gap for emerging agribusinesses by enhancing their access to capital and preparing them for scalable growth. At the heart of the initiative is a ₦20 million grant pool, which will be awarded to ventures deemed most investment-ready.

Participants will benefit from digital learning modules and a unique fundability scoring system powered by Zimara, a platform that uses alternative data and readiness benchmarks to evaluate the viability of startups. This data-driven approach ensures that only the most bankable and scalable ventures progress through the programme.

Applications are currently open via [FCMB’s official portal](http://on.fcmb.com/AgricTech-Hackathon) and will remain accessible until September 12, 2025. After the application window closes, the top 20 startups will be selected for a six-week intensive investment readiness bootcamp, culminating in a pitch event before a panel of investors in October 2025.

Speaking at the launch, Kudzai Gumunyu, FCMB’s Divisional Head of Agribusiness & Non-Oil Exports, emphasized the bank’s commitment to inclusive growth. “This programme goes beyond traditional financing. It’s about building a robust ecosystem that connects agritech innovators with the capital and mentorship they need to thrive. We’re investing in the future of agriculture and the entrepreneurs who will shape it.”

Abiodun Lawal, CEO of Heave Ventures, echoed this sentiment, highlighting the transformative power of agritech. “Agribusiness innovation can rejuvenate entire value chains—from farm to factory to foreign markets. It’s a catalyst for job creation, economic resilience, and food sovereignty. FCMB and FMO’s support sends a strong message: Africa is ready to lead in agricultural technology.”

The FCMB–FMO programme aligns with broader efforts to position Nigeria as a hub for agritech innovation. By nurturing startups that tackle real-world agricultural challenges, the initiative aims to boost productivity, reduce poverty, and enhance food security—while also attracting foreign investment and strengthening export capacity.