FMN Unveils Price for Innovation Competition, Promotes Food Revolutions
Flour Mills of Nigeria Plc (FMN), Nigeria’s leading integrated food and agro-allied group and owners of the iconic food brand, ‘Golden Penny,’ has today announced the commencement of its social impact campaign to encourage and foster innovation within the food systems in the country.
The campaign, which is tagged “FMN Prize for Innovation,” is designed to inspire and revitalize food production in the country and ultimately contribute to attaining the 2030 Agenda for Sustainable Development.
Each year, the prize will focus on a different element of the food value chain to generate new and imaginative ways of thinking and encourage novel solutions to established problems.
Starting from the 8th of December 2021, operators within the food systems, including all activities in the value chain that covers feeding and nourishing people, from growing, harvesting, packaging, processing, transporting, and marketing, can send in their applications for the prize with the prospects of winning the start Prize of N3 million.
Commenting Sadiq Usman, the Director of Group Strategy & Stakeholder Relations said, “A significant number of the challenges facing the food systems in Nigeria today, including low productivity due to damaged crops, limited access to agricultural value chains, and food loss or wastage, can be solved by creative thinking and the right investment in innovation. And that is where companies like ours come in.
“The prize for innovation is another way of demonstrating FMN’s commitment to enriching lives and empowering commitment by investing in not just the development of the food value chain but in capacity development and access to resources. “
Mira Mehta, CEO and founder of Tomato Jos Farming and Processing Limited; Adenike Adeyemi, CEO, Fate Foundation – renowned for enabling aspiring and emerging entrepreneurs in Nigeria; Mezuo O. Nwuneli, a private equity investment advisor; and Sadiq Usman, Director of Strategy & Stakeholder Relationship for Flour Mills will judge the FMN Prize for Innovation.
COMPETITION CATEGORIES & APPLICATION PROCESS
According to FMN, the first category will be open to entries from Micro, Small and medium scale enterprises in Nigeria and will be expected to address food loss and wastage in the food production process. Entries must be situated within the food value chain and be accompanied by proof of business registration.
It said entries will also be judged for creativity and a clear map to scale by technical stakeholders in the Agro-Allied and Food Processing sectors and will be judged for effectiveness, creativity, and scalability. The top prize for this category is Three Million Naira.
Also, the second category will be open to entries from Nigerian students (undergraduate or post-graduate level). Ideas will be expected to tackle loss and waste in the food production process and judged based on viewers’ choices (all Nigerians).
It said participants will be required to send in a video pitch of their ideas and to post the same on their social media handles, tagging FMN.
Ten of the most innovative entries will then be reposted on FMN’s social media handles while participants solicit for votes via likes and engagements, the statement reads.
FMN said the three entries with the most engagements will then be rewarded with the 1st, 2nd, and 3rd place winners receiving N300,000 N200,000 N100,000 respectively.
For entry, interested participants are asked to log on to https://ift.tt/3IwH7iD to send in their entries. Entries for the first category end on the 6th of January 2022, while entries for the second category ends on the 29th of December 2021. # FMN Unveils Price for Innovation Competition, Promotes Food Revolutions
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