Launch accelerator program Village Capital FinTech for Agriculture: East Africa 2015.

Village Capital, in partnership with MasterCard Foundation and Duncan Goldie-Scot, has announced the launch of its accelerator program, Village Capital FinTech for Agriculture: East Africa 2015.

Smallholder farmers in East Africa cannot participate in the mainstream economy because they lack access to financial services as a result of their location, their lack of financial literacy, and other barriers. In order to address this situation, entrepreneurship democratizer Village Capital will support the best local early-stage ventures increasing financial inclusion in the East African agriculture industry, benefitting smallholder farmers, investors, communities, and entrepreneurs in the region.

Village Capital  will provide 12 selected start-up firms with intensive business development training, mentorship from local business leaders and investors, and face-to-face interaction with potential customers. The goal is to unlock innovations that increase access to financial services for smallholder farmers. The program aims to create 200 jobs over the next two years in East Africa, with an estimated 60 per cent of jobs going to individuals living below the poverty line. Graduating enterprises are also expected to increase revenue growth by 4.5 times and distribute goods and/or services to 200,000 customers (with a primary target of smallholder farmers) within that time period.

Applications can be submitted via the website of Village Capital and will and will be accepted through February 25, 2015. The selected applicants will be announced at the end of March 2015.