Biocrops Biotechnology
Description
Biocrops has taken research results from high-end research laboratories and has found ways to include rural farmers in applying the technology, turning hundreds of them into technology seeds receivers of high-yielding disease-free planting materials who now enjoy better incomes and feed better living. Biocrops is a local company that has brought technology to the level of the rural farming community.
Market Opportunity/ Problem
Nigeria is faced with food shortages, hunger, low-income unemployment arising from low yields of essential food crops. The problem can mainly be attributed to bad seeds, outdated seeds, diseased seeds, and a lack of technology and modernization in the food crops segment. The young people, women, smallholder farmers, artisanal farmers, and rural folks are the beneficiaries of the company’s project, bringing environmental, economic, and social benefits to the county. Biocrops supplies value and closes this gap by providing technology seeds for farmers in the root and tuber sector, giving fresh, clean, and higher producing seeds that would otherwise have eluded these categories of poor farmers, thereby bringing up their nutrition, food, and income levels and contributing to community development and rural economy.
Company Information
Years of operation
7
Type of organization
Private Company
Stage of the business
Early stage/ Startup
Agribusiness focus
Provision of inputs
Agriculture value chain(s) focus?
Food Crops
Primary country of operation
Nigeria
Other country(ies) of operation
N/A
How many employees does your business have?
22
Does the business have more than 30% women ownership?
Yes
Does the business have more than 30% youth ownership (under 35 years)?
No
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
Above $1m
What is the split between equity and debt?
45% equity and 55% debt