Two Nigerian startups, RiceAfrika Technologies, Wicrypt emerged winners in different categories at the recently concluded LEAP’s Rocket Fuel Startup Pitch Competition in Saudi Arabia.
RiceAfrika Technologies, a technology-driven agricultural optimization startup, was named the global winner in the “Tech for Humanity Award” category and received $150,000. Wicrypt, a groundbreaking startup working towards a decentralized internet, also won $150,000 after being named the global best in the Into New World Award category.
RiceAfrika is a tech-driven agriculture optimization service provider in Africa. It provides a platform that connects smallholder farmers in Africa with Land preparation equipment, high-yielding seeds, quality herbicides and pesticides, affordable fertilizers, mechanized harvesting, extension services, and a structured market.
Wicrypt offers its users the ability to earn money by sharing their WiFi connection. The service is facilitated through Wicrypt hotspot hubs, which enable the distribution of WiFi. This not only provides users with a more affordable internet option, but also the opportunity to generate passive income through their WiFi sharing.
According to the organisers, the competition received over 10,000 submissions from startups across the world. After a thorough review process, the pool of applicants was reduced to 220, and only 90 were chosen to present their business concepts in the semi-final round. Out of the eight Nigerian startups that took part in the semi-final, three advanced to the final stage, with two of them being declared winners.
According to the Minister of Communications and Digital Economy, Professor Isa Pantami, who led the Nigerian delegation to the global event, “I am so proud of our Startups who emerged as the global best in these categories. It is quite a long journey that followed a rigorous process until the end; from over 10,000 applications to the final 12, in which three Nigerians took part and two emerged winners. We are delighted that Our startups are not only amazing but went through a lot of nurturing and mentorship to be the best in the world.”
The Minister stated that Nigeria is on the right track in implementing its National Digital Economy Policy and Strategies to ensure that Nigerian startups add value to the global tech ecosystem. According to him, the country is building the ecosystem and making it more conducive for nurturing innovation-driven enterprises. He added that Nigerian startups are creating solutions for the local market that can easily scale to the global market.
The “Rocket Fuel” competition, supported by the National Information Technology Development Program (NTDP) and the Misk Foundation, aims to support startups, highlight entrepreneurial projects, and contribute to developing and building innovative solutions that address technical challenges.
This LEAP’s Rocket Fuel Start-up Pitch Competition is the second edition of the competition and it has six different categories and an award for each one. The six awards divide the start-up entrants by size, scale, the impact they have had on society, amount of funding, years in business and number of employees.
Saudi Arabia’s Plastus, which produces 100 per cent biodegradable bioplastics through the fermentation of bacteria, won the US$250,000 main prize while the others took home US$150,000.
The six startups that were crowned category winners are:
- RiceAfrika technologies (Nigeria) – Technology for Humanity Award – For the startup that best embodies the “tech for humanity” spirit of LEAP.
- WiCrypt (Nigeria) – The Into New Worlds Award – For the most impressive startup occupying the Metaverse and Web 3.0 space.
- BAG Innovation (Rwanda) – Shooting Star Award – For the early stage startup beginning their journey.
- TAKADAO (Saudi Arabia) – The Aviatrix Award – For the best, most innovative startup pioneered by women founders.
- Verofax Limited (United Arab Emirates) – The Artificial Intelligence Award – For the startup that presents the most exciting, ground-breaking usage of artificial intelligence.
- Plastus Biotech (Saudi Arabia) – LEAP Award – For the strongest, most outstanding startup across the whole competition.
