Agro-Tech Fund Ekiti Unveils Impressive N1bn Initiative for Agricultural Innovation

• The Chancellor of Ekiti State University announced the launch of a N1bn agro-tech fund to support student and graduate enterprises.
• The initiative was unveiled at the university’s 28th convocation to drive innovation and enterprise in agriculture for food security in Nigeria.
• The fund aims to empower agro-tech companies founded by present graduands and students of the university.
• Students are encouraged to engage in food production by leasing small plots of land on the university’s fertile grounds.
• Opportunities in the agricultural value chain, including agri-logistics and app development, are highlighted for student exploration.

The Ekiti Varsity Launches N1bn Agro-Tech Fund

In a groundbreaking move, the Chancellor of Ekiti State University, Dr. Tunji Olowolafe, has introduced a N1bn agro-tech fund to support innovative agricultural technology ventures initiated by the university’s students and alumni.

Empowering Agro-Tech Entrepreneurs at Ekiti State University

The recent announcement of the N1bn agro-tech fund at Ekiti State University has sparked excitement among the academic community. Dr. Olowolafe unveiled this ambitious initiative during the university’s 28th convocation held on April 3-4, 2024. The primary objective of this fund is to provide a platform for budding agro-tech companies established by current students and recent graduates of the university to flourish.

Dr. Olowolafe emphasized the critical need for fostering innovation and entrepreneurship in the agricultural sector to enhance food security in Nigeria. He underscored the vast potential for groundbreaking ideas and inclusive development within local farming communities. In his address to the audience, he stated, “Agriculture serves as the backbone of our nation, presenting immense opportunities for innovation and economic growth. The N1bn Innovation Fund aims to empower agro-tech startups founded by our university’s students and graduates.”

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Commissioning of Iremolu Isan Agro-Processing Centre at Isan-Ekiti

The Chancellor also called upon students and faculty members to actively participate in food production initiatives. He proposed the utilization of the university’s fertile lands for agricultural activities, allowing students to lease small plots and engage in practical farming experiences while generating income. Dr. Olowolafe highlighted the significance of understanding the food production process and encouraged all individuals, regardless of their field of study, to contribute to agricultural activities.

Diverse Opportunities in the Agro-Tech Sector

Furthermore, Dr. Olowolafe urged students to explore various opportunities available within the agricultural value chain, ranging from cultivating grains and vegetables to venturing into poultry, fisheries, agri-logistics, and even app development. He announced plans to engage 100 of the university’s brightest minds in global business process outsourcing to enable them to make meaningful contributions to the economy.

The introduction of the N1bn agro-tech fund signifies a significant step towards promoting innovation, entrepreneurship, and sustainable agricultural practices among the university’s student body and alumni. It aligns with the broader goal of enhancing food security and driving economic prosperity through technological advancements in the agricultural sector.

Creating Impact Through Agro-Tech Innovation

The establishment of the N1bn agro-tech fund at Ekiti State University not only presents a unique opportunity for students and graduates to showcase their entrepreneurial spirit but also contributes to the overall advancement of the agricultural industry in Nigeria. By encouraging innovation, fostering collaboration between academia and industry, and providing financial support to agro-tech startups, the university aims to create a positive impact on the agricultural landscape and promote sustainable development in the region.

The launch of the N1bn agro-tech fund marks a significant milestone in Ekiti State University’s commitment to nurturing talent, fostering innovation, and driving economic growth through agro-technology. With the support of this fund, aspiring agro-tech entrepreneurs within the university community are poised to make a lasting impact on the agricultural sector and contribute to the realization of a more prosperous and food-secure future for Nigeria.