EMpact launches its investment studio in Ivory Coast, announcing a new approach to impact investing in West Africa –

The International University of Grand Bassam and the Institut National Polytechnique Félix Houphouët-Boigny are academic launch partners

ABIDJAN, Ivory Coast, April 23, 2024 /African Media Agency/ – Today marks the launch of EMpact – an investment and business creation studio serving agricultural value chains – in Côte d’Ivoire. Ivory, its first market in Africa, following a successful launch in Latin America in 2023. The initiative in Ivory Coast is a collaboration between EMpact and two leading institutions: the International University of Grand Bassam (UIGB) and the Institut National Polytechnique Félix Houphouët-Boigny (INP-HB). The studio will develop collaborative entrepreneurship that meets the needs of companies involved in agricultural value chains, leading to sustainable impact at the intersection of human activity and our planet.

Professor Saliou Touré, President of UIGB, said: “We believe that every UIGB student should develop an entrepreneurial spirit, responding to UIGB’s broader holistic vision that our young people lead the way in development of products and services used in Africa by Africans. The future of the agricultural value chain must include innovative solutions that drive systematic and sustainable efforts. This innovative approach must integrate strong entrepreneurial foundations. UIGB is pleased to join EMpact in its multi-dimensional approach to entrepreneurship development in which business and industry leaders work alongside our students and future leaders to bring about change, thereby moving the agricultural sector forward “.

The investment studio addresses the most critical issue facing entrepreneurship in frontier markets, namely talent development. UIGB and INP-HB students, alumni, or even students from other universities, will be mentored as entrepreneurs using hybrid training provided by academic institutions and the world’s best curriculum. ‘EMpact. This phase is followed by incubation during which young and female founders are helped to design digital solutions that address the needs and problems of partner companies. Ultimately, incubated companies will enter an accelerator that will help each team transform their solutions into startups ready for an injection of capital through ongoing mentoring, access to essential shared services and opening doors to partners additional.

Dr. Moussa Diaby Abdoul Kader, Director General of INP-HB, said: “I firmly believe in the fundamental role that training and the creation of small businesses play in the development of a country. One of our country’s challenges is job creation and the integration of our young graduates. This partnership, which INP-HB is proud to sign with EMpact, intended to support our students’ start-up initiatives, is a relevant response to the growth in student unemployment. It strengthens the essential links that exist between our research system and the valorization of results through innovative companies. Agriculture, which remains one of the pillars of development in African countries, is the primary beneficiary. This partnership is therefore of capital importance for the INP-HB to the extent that entrepreneurship is gaining unprecedented momentum in the current economic and financial situation.”

Sami Lahoud and Prateek Shrivastava, co-founders of EMpact, said: “Traditional farming techniques keep farmers poor, produce a lot of waste, harm the environment and are generally unsustainable, creating real concerns about to global food security. By harnessing the potential of young people and women in frontier markets such as West Africa, and connecting them with talent from other regions of the world, we are transforming the challenges facing these countries and global agricultural value chains into opportunities for populations and for our populations. planet. We are grateful to our launch partners UIGB and INP-HB for joining us on this exciting journey that will place Ivory Coast at the forefront of solving these critical issues.”

The importation of technologies from developed markets to frontier markets invariably meets neither the needs of these markets nor the needs of businesses in agricultural value chains, due to the stage of development of these countries. However, innovations developed locally, in collaboration with businesses and technology partners, implemented by local capacity building institutions, are better suited to a market like Ivory Coast, which is a major global supplier of crops reviews. Such innovations are much easier to replicate in markets with similar characteristics to Côte d’Ivoire, whether in Africa, Latin America, Asia or other regions of the world.

The EMpact investment studio within the UIGB and INP-HB in Côte d’Ivoire, which is inspired by the EMpact studio already operating in Guatemala, will be replicated with other institutions in the country and of the region. In 2025, it is planned to include additional frontier markets such as those in Central Asia, and to begin interconnecting these markets through the cross-pollination of ideas, capitalizing on their organic similarities and complementarities.

Distributed byAfrican Media Agency(AMA) for EMpact

About EMpact

EMpact is a startup studio that serves critical value chains in emerging markets by tackling chronic issues affecting these markets and our planet.

EMpact drives change through talent development and business incubation that meets the needs of key players in these value chains, with a focus on agriculture. The final step in this investment studio model is to accelerate the provision of capital to startups, support them through the initial phase of their growth journey, and then – over time – hand them over to investors later.

About the UIGB

UIGB is a non-profit American-style academic institution whose mission is to transform Ivorian and West African society through distinctive American-style, student-centered education with instruction in English to prepare future leaders to meaningful employment and engage in research and services that contribute to the equitable economic growth of local, regional and global communities. The university offers eight career-oriented degree programs in two schools: the School of Business and Social Sciences (BSS) and the School of Science, Technology, Engineering and Mathematics (STEM). IUGB also offers an intensive university preparatory program in English and has a continuing education center.

A propos de l’INP-HB

A public administrative establishment, the INP-HB is a unique institution in the West African sub-region. Created by decree 96-678 of September 4, 1996, the INP-HB comes from the grouping of the National School of Agronomy (ENSA), the National School of Public Works (ENSTP), the Agricultural Institute of Bouaké (IAB) and the National Higher Institute of Technical Education (INSET), four schools commonly called the “Ex Grandes Ecoles de Yamoussoukro”.

INP-HB, flagship of the higher education and scientific research system, is now recognized for the quality of its training with accreditations. The Institute, particularly sensitive to its roots in the professional world, works to build citizens of tomorrow capable of meeting the challenges of the emergence of Côte d’Ivoire and Africa. To achieve this, a vast network of alumni organized by professional sector supports it and ensures that the training is aligned with sustainable socio-economic issues.

One of the strengths of INP-HB since its creation lies in the diversification of its training offer through nine (9) schools which cover all economic and social sectors. This allows it to establish strategic partnerships at an international level.

Over the last 2 years, the Institute has resolutely opened up to the world through the creation of joint training courses with prestigious partners on all continents (l’X, HEC, Ecole des Ponts, UQAM, Université d ‘Ottawa, UM6P, the University of Shenzen…).

Media contacts

Meganne Lorraine BOHO

[email protected]

Source : African Media Agency (AMA)

2024-04-23 18:57:56
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