Local Seed to Global Success: How a $5,000 Fund Grew into a $1,000,000 International Grand Prize Win.

NovFeed is a Tanzanian startup that is making waves in the food industry. Founded in 2020, the company's mission is to transform organic waste into alternative protein ingredients. It offers a solution for converting both pre-consumer and post-consumer food waste into high-protein feed and organic fertilizer that is sustainable and cost-effective. This allows the meat and aquaculture industries to access new sources of food products.

With support from the Embassy of Switzerland in Tanzania and Fondation Botnar, the Ifakara Innovation Hub's mission is to provide resources and support to Tanzanian entrepreneurs, like NovFeed founders, who are developing innovative solutions to address the country's most pressing health and livelihood challenges.

The journey to success was not an easy one for NovFeed. As one of the first cohort startups to be supported by the Ifakara Innovation Hub in 2020, the company had access to the hub's network of mentors, coaches, and startup financial support of USD 5,000 as a seed fund. During the 18-month incubation program, the startup turned their ideas into a minimum viable product (MVP) and formally registered their business. The Ifakara Innovation Hub played a pivotal role in guiding NovFeed through the early stages of its business and provided the necessary support to make its dream a reality.

With recent wins of a $1 Million Grand Prize in the Milken-Motsepe Agritech Innovation Competition 2023 as Tanzania's Champion. It named NovFeed as the top African agritech innovator out of five contenders by the Milken Foundation and Motsepe Foundation, two organizations renowned for their multimillion dollar innovation programs. NovFeed's success demonstrates the importance of supporting early-stage startups that are working on innovative solutions to global challenges.

In conclusion, NovFeed's journey is a testament to the power of entrepreneurship and innovation in creating a more sustainable future. With the support of establishments like the Ifakara Innovation Hub and donors such as the Embassy of Switzerland in Tanzania and Fondation Botnar, startups like NovFeed can turn their ideas into reality and make a meaningful impact in their communities. We can all learn from NovFeed's success and continue to support entrepreneurs who are working towards a more sustainable future.

First Published on 31st October 2023