FarmHut is a local agriculture startup that creates connections between small scale farmers in Zimbabwe and markets. The startup offers a range of services which include helping smallholder farmers increase productivity and profitability by allowing them to place their products on the market before harvest is complete. This means that farmers are not wasting their produce by carting it to market day in and day out.
It is because of this and other services like offering funding and a marketplace that FarmHut has recieved US$100 000 from the Hult Prize Foundation.
Hult Prize Foundation
For more than a decade the Hult Prize Foundation has been transforming how the youth envision their own possibilities. The organisation seeks to create opportunities for young people through its one million dollar startup prize.
The Hult Prize Foundation has to date trained and graduated more than two million alumni across 121 countries. FarmHut can now name itself among those who are set to benefit from the foundation.
“We were selected onto the accelerator where we spent around eight months receiving training and refining our business models. After the process we were shortlisted to 33 entities, and from the number, only 11 got the seed capital”Ryan Katayi, co-founder of FarmHut (via Sunday Mail)
Ryan Katayi went on to say that the funds received from the Hult Foundation will go to increasing the number of inclusive systems for small scale farmers so they can have access to markets with ease.
“This investment is not just for FarmHut. It goes to all the farmers toiling everyday to put a meal on the table. It sets the stage for us to take our revolutionary solution to the rest of the world,”Ryan Katayi, co-founder of FarmHut (via Sunday Mail)