Flour Mills of Nigeria Plc (FMN), a leading food and agro-allied company in Nigeria, has announced its Prize for Innovation 2.0 pitch event, which will stream on digital platforms Bella Naija, PulseTV and GoldmyneTV.
The live pitch event is set to air on February 18, 2023, and will feature six of the most promising innovators in the food and agro-allied sector.
The FMN Prize for Innovation 2.0 is a continuation of FMN’s commitment to fostering innovation and driving growth in the industry. The pitch event aims to provide a platform for viewers to watch the six innovators, showcase their ideas and receive recognition for their efforts. The winner of the competition will receive a cash prize of N5,000,000, as well as mentorship and significant support from FMN. The first and second runners-up will go with prize money of N3,000,000 and N2,000,000 respectively.
Themed “Innovative techniques for local content development in the food and agro-allied sector”, this year’s edition of the competition attracted about 400 entries and innovators across Nigeria within the two project categories who showcased their innovative ideas and solutions to boost local content development in the nation. The finalists were selected from entries in category one of FMN’s annual innovation competition based on a transparent selection process.
After an intensive vetting process, the six finalists will be pitching their ideas to returning judges, Adenike Adeyemi (CEO, FATE Foundation), Mezuo O. Nwuneli (Managing Partner, Sahel Capital Agribusiness Managers Ltd.), Mira Mehta (Founder and CEO, Tomato Jos Farming and Processing Limited) and Sadiq Usman (Director – Group Strategy and Stakeholder Relations at Flour Mills of Nigeria).
Commenting on the pragmatic and transformative nature of the project, Mr. Boye Olusanya, Group Managing Director and CEO, FMN stated, “The FMN Prize for Innovation project is a clear demonstration of the Group’s commitment towards driving local content development in Nigeria through innovation. Beyond identifying and rewarding Nigerians that are championing innovations across various sectors, through the project also, we entrench business sustainability by working closely with the winners to ensure business continuity by providing the required expertise, training, mentorship, and partnership. In essence, the FMN Prize for innovation is a transformative project that further reiterates our mandate of enriching the lives of Nigerians while feeding the Nation, Everyday”.
The FMN Prize for Innovation project is in its second season and it is part of the Group’s commitment to promoting innovation, entrepreneurship, and sustainable development in the country.