Africa-Press – Uganda. As Africa confronts an escalating food security crisis driven by climate change, Innovate47 has launched a strategic Food & Agri Accelerator designed to support the next generation of agricultural innovators across the Global South. The eight-week program enters a market where agricultural technology startups are increasingly viewed as critical infrastructure for climate adaptation and food system resilience.
The timing is critical. By the end of this decade, 118 million extremely poor people across Africa will be facing extended periods of drought, flooding and extreme heat as a direct result of climate change, according to recent climate projections. Meanwhile, under a 3°C warming scenario, Africa is expected to lose up to 30 percent of current growing areas for maize and banana and 60 percent for beans by 2050.
The accelerator launches into a rapidly evolving investment landscape. While overall venture capital funding in Africa dropped to $2.2 billion in 2024, representing a 25% decrease from 2023 and a 53% decline from 2022, agricultural technology has emerged as a standout sector.
Startups in the Ag Marketplaces & Fintech category have taken the top spot for funding in recent months, bringing in $65 million, or 41% of total agri-foodtech investment on the continent in 2024, according to AgFunder’s latest Africa investment report. This shift represents a fundamental reordering of investor priorities, with agri-fintech solutions overtaking traditional midstream technology investments.
The broader agri-foodtech ecosystem has shown remarkable resilience. Agritech leads with 28% of the total funding amount led by female founders, amounting to US$45M in 2024, signaling both the sector’s growth potential and its appeal to diverse leadership.
Agriculture’s significance to African economies cannot be overstated—it contributes approximately 23% of sub-Saharan Africa’s GDP and employs over 60% of the population. However, the productivity of agriculture in Africa remains low compared with other regions, a result of climate change and variability, land degradation caused by inappropriate farming practices, deforestation, mining activities, and desertification.
The human cost is mounting rapidly. East Africa struggles with a profound challenge in ensuring food security amidst the convergence of climate change, economic crises, and conflicts, while according to the United Nations, there will likely be a continued increase in hunger and poverty until 2030.
These challenges have created urgent demand for technological solutions that can enhance agricultural productivity while building climate resilience.
Innovate47, which maintains active networks across Ghana, Kenya, Malawi, Nigeria, and Pakistan, has positioned its accelerator to address both immediate market opportunities and systemic challenges facing Global South agriculture.
“Food systems are at the frontlines of the climate crisis. Farmers, consumers, and communities worldwide are already experiencing the effects,” said Umair Sheikh, Founder of Innovate47. “Through this programme, we aim to identify bold entrepreneurs with scalable solutions and give them the tools, networks, and capital pathways to make a real impact.”
The program’s virtual format, combining group sessions with one-on-one mentorship from industry experts, sector leaders, and investors, acknowledges the practical realities facing entrepreneurs in emerging markets while providing access to global expertise networks.
Target Areas Reflect Market Needs
The accelerator focuses on five critical areas that align with current investment trends and urgent market needs:
Regenerative Agriculture: With about two-thirds of Africa’s arable land expected to be lost by 2025 because of the lack of rainfall and drought, solutions that restore soil health and enhance land productivity have become essential.
Agri-Fintech Solutions: The category’s rise to the top of African agri-tech funding reflects massive unmet demand. Companies like South Africa’s Pumpkn exemplify this trend, aiming to facilitate $1 billion in funding to over 150,000 African SMEs by 2030 specifically to tackle the agricultural financing gap.
Supply Chain Innovation: Critical for addressing post-harvest losses and connecting smallholder farmers to larger markets.
Food Security Technologies: Directly addressing the crisis affecting millions across the continent.
Climate-Smart Farming: Essential for adaptation to changing precipitation patterns and extreme weather events.
Investment Ecosystem Evolution
The accelerator benefits from a maturing investment ecosystem. Over the past decade, global investors have contributed a total of $2.4 billion to African agri-foodtech startups, creating both precedent and infrastructure for scaling agricultural innovations.
However, challenges remain significant. Africa’s ‘big four’ – Nigeria, South Africa, Egypt and Kenya – raised the bulk of tech VC funding in 2024, attracting 84% of total funding, highlighting geographic concentration that Innovate47’s multi-country approach aims to address.
Sheikh emphasizes that the program extends beyond traditional accelerator models: “We want to ensure that entrepreneurs in the Global South don’t just survive but thrive in solving the most pressing challenges of our time.”
This ecosystem approach reflects growing recognition that sustainable solutions require more than individual company success. The program’s emphasis on connecting founders with global networks and capital pathways addresses systemic barriers that have historically limited Global South entrepreneurs’ access to scaling opportunities.
The accelerator’s launch comes as the intersection of climate adaptation and food security has become venture-backable at scale. Recent initiatives like AgDevCo’s announcement of an $85m package of new funding from BII, Swedfund and Norfund demonstrate institutional investor commitment to the sector.
The program also addresses timing challenges in the current funding environment. While overall African venture capital has contracted, the concentration of investment in proven sectors like agri-fintech creates opportunities for well-prepared startups to access capital during market downturns.
As applications open for Innovate47’s Food & Agri Accelerator, the program represents more than entrepreneurial opportunity—it’s a strategic response to one of Africa’s most pressing challenges. With climate change intensifying food insecurity across sub-Saharan Africa, where Russia’s war in Ukraine and the pandemic are also adding to food shortages and high prices, technological innovation has become essential infrastructure for survival and prosperity.
The success of this accelerator may well be measured not just in startup valuations or funding rounds, but in its contribution to food system resilience across a continent where agricultural innovation is no longer optional—it’s existential.
For founders ready to tackle these challenges, applications are now open on Innovate47’s website, offering entry into a global community of innovators working at the intersection of technology, sustainability, and human need.
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