The challenge will help address challenges faced by smallholder farmers around productivity, climate change and supply chain, by also working alongside International Fund for Agricultural Development (IFAD) and Bayer as partners, UNCDF said in a statement on Thursday.
"The last year has been exceptionally difficult at the personal, communal, and economic level for so many people. As we look to the recovery phase, it is critical that the global financial architecture intensify its support to accelerate achievement of the Sustainable Development Goals, specifically in frontier markets," UNCDF Executive Secretary Preeti Sinha said.
UNCDF supports innovative solutions that helps those most at risk of being left behind, notably small-holder farmers in last mile markets she noted.
"Digital transformation can be a key enabler for driving recovery and resilience. We are proud to partner with NITI Aayog, Rabo Foundation and Bill and Melinda Gates Foundation through the Financial Health Programme to support the development and expansion of digital solutions across borders that alleviate the constraints faced by small-holder farmers affected by the pandemic,” she added.
Through this challenge, UNCDF will also enable cross-border collaborations among emerging markets across India, Indonesia, Malawi, Malaysia, Kenya, Uganda, Zambia among others.
Over the course of the Agritech Challenge, the participants will get access to industry and markets linkages, investors and mentorship to help them expand to their chosen international market.
The challenge will work towards helping the participants build and test their solution in the new market, as part of UNCDF''s work under the Global Centre for Financial Health, with subsequent support on scaling the solution as well. PTI SM MKJ