The Africa AgTech and Inclusive Insurance Challenge commemorate and help young entrepreneurs operating at the merging of agriculture, insurance, climate, and gender to develop the rural communities’ resilience. The challenge received 208 applications from 23 countries all over Africa. Applications included companies working in crop and livestock insurance products, innovative credit scoring technologies, crop and water stress detection technologies, and more. The challenge helps startups solve real-time issues to create a lasting impact.
AgTech and Inclusive Insurance Challenge selected Omishtu-Joy for its creativity in solving challenges using innovations and high potential entrepreneurship. It received a 25,000 USD financial support. It is a joint venture tech startup of Debo Engineering & Melkam Technology focusing on enhancing crop productivity. Omishtu-Joy’s technology is maintained by an Artificial Intelligent system that matches crops to farmlands.
The company uses technology to solve farmers’ problems and improve yield. It works directly with 5,500 farmers, trains an additional 4300 farmers, and aims to bring on 18,000 more farmers by the end of 2022. Ethiopia’s economy solely depends on Agriculture, 40 % of GDP, 80 % of exports, and nearly 75% of the country’s workforce. Therefore, companies like Omushtu-Joy are essential to boost the country’s agriculture sector and increase GDP.
