Flour Mills of Nigeria Plc (FMN) has said that through its FMN Prize for Innovation 2.0 it will reward pitchers with innovative ideas for local content development in the food and agro-allied sector.
The pitch to unlock such ideas will be streamed on digital platforms Bella Naija, PulseTV, and GoldmyneTV on February 18, 2023.
The company said in a statement in Lagos that the live pitch event will feature six of the most promising innovators in the food and agro-allied sector.
It said the FMN Prize for Innovation 2.0 is a continuation of its commitment to fostering innovation and driving growth in the industry.
The pitch event aims to provide a platform for viewers to watch the six innovators, showcase their ideas and receive recognition for their efforts.
The winner of the competition will receive a cash prize of N5m as well as mentorship and significant support from FMN. The first and second runners-up will go with prize money of N3m and N2m respectively.
Themed, “Innovative techniques for local content development in the food and agro-allied sector,” this year’s edition of the competition attracted about 400 entries and innovators across Nigeria within the two project categories who showcased their innovative ideas and solutions to boost local content development in the nation.
The finalists were selected from entries in category one of FMN’s annual innovation competition based on a transparent selection process.
Group Managing Director and CEO of FMN, Boye Olusanya said, “The FMN Prize for Innovation project is a clear demonstration of the Group’s commitment towards driving local content development in Nigeria through innovation.
“Beyond identifying and rewarding Nigerians that are championing innovations across various sectors, through the project also, we entrench business sustainability by working closely with the winners to ensure business continuity by providing the required expertise, training, mentorship, and partnership.
“In essence, the FMN Prize for innovation is a transformative project that further reiterates our mandate of enriching the lives of Nigerians while feeding the Nation, Everyday.”
