Flour Mills of Nigeria (FMN) Prize for Nigerian SMEs & Students
Flour Mills of Nigeria (FMN) is inviting registered food or agro-allied businesses in Nigeria to submit applications for its second edition of the annual Prize for Innovation competition. The Flour Mills of Nigeria (FMN) Prize for Nigerian SMEs & Students worth five million naira grand prize aims to highlight new and imaginative ways to achieve sustainability in Nigeria’s food value chain.
The Flour Mills of Nigeria (FMN) Prize for Nigerian SMEs & Students is structured in a way to catalyze the promotion of local content development in Nigeria’s food & agro-allied sector, to encourage sustainable food production. In this year’s contest, participants will be asked to develop novel solutions to facilitate a paradigm shift from dependence on imported raw materials to developing local capacities for the purpose of sustaining local communities in Nigeria. This year’s edition seeks innovative ways to develop and increase the usage of local materials in the food industry, to meet local demands in the following two categories below:
- Registered Businesses like Micro, Small & Medium Scale Enterprise Owners
- Nigerian Students studying an undergraduate or Postgraduate degree program
The Flour Mills of Nigeria (FMN) is a Nigerian diversified agribusiness company, Founded in 1960 by George S. Coumantaros. FMN employs over 12,000 people on an annual basis.
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Eligibility for the Flour Mills of Nigeria (FMN) Prize for Nigerian SMEs & Students:
- Applicants must own a registered food or agro-allied business in Nigeria.
- Applicants must have an interest in the food and agro-allied industry.
- Applicants must have a big idea and innovative solution that address a shift from dependence on raw materials import to prioritize local content usage in Nigeria’s food and agro-allied sector.
- Applicants’ ideas should have a solid proof-of-concept, a social or commercial purpose, and a clear roadmap to scale.
- Applicants must be Nigerian students studying an undergraduate or postgraduate degree program.
Applicant’s entry will be evaluated based on the following categories below:
- The ingenuity of the ideas
- The social or commercial purpose of the idea
- Thoroughness of research
- Impact & Scalability
- Likelihood of the success of the enterprise
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Application Deadline: January 10, 2023.
For more information about this opportunity, Visit the Official Website.