Gbarnga, Bong County- The United States Agency for International Development (USAID) in partnership with TRIBE, Smart Liberia, and YONER, has launched the second cohort of an agribusiness incubator and development initiative aimed at supporting Liberian entrepreneurs from five counties, including Montserrado, Bong, Grand Bassa, Rivercess, and Sinoe.
By Jaheim T. Tumu
This USAID-funded project seeks to foster innovative ideas from promising entrepreneurs, improve access to finance, create a stronger network of business service providers, strengthen agricultural value chains, generate employment opportunities, and enhance the overall business environment in Liberia.
The first agribusiness incubator attracted over 89 applicants, with 30 successfully completing the program and eleven recipients being awarded a total of USD $110,000 to kickstart their businesses. Among the awardees, four individuals received USD $50,000, another four were granted USD $10,000, and three received USD $25,000.
The Monrovia Startup Consortium (MSC), comprising TRIBE, Smart Liberia, and YONER, has designed and implemented this initiative to support the development of small and growing businesses, with a focus on boosting the agriculture sector, attracting investments, and enhancing productivity.
The eligibility criteria for this program are tailored to support entrepreneurs in the agribusiness sector, with particular emphasis on empowering women and youth-led enterprises.
In his remarks, Solomon Mahn, Activity Manager of TRIBE, highlighted the responsibility of identifying qualified agribusinesses to participate in the incubation program.
He emphasized the commitment to nurturing innovative and sustainable agribusiness ventures, with a focus on potential growth and impact within Liberia.
He indicated that the program will offer comprehensive business development training, mentorship, and financial support, specifically tailored to empower entrepreneurs, especially women and youth, to present their businesses through a competitive process for consideration for grants to advance their enterprises.
Said Mahn, “This is the opportunity that we are presenting to you here. This year, we intend to intentionally increase the women businesses in the process. If you are a woman in this group and you run an agribusiness or you are part of a female cooperative and you know other women in those who also run similar businesses this is the platform to take on this opportunity.”
Mahn explained the various categories, including pitch competitions and grants. He mentioned that taking part in the pitch competition would give businesses the opportunity to pitch their ideas for a $50,000 prize while the grant, it is divided into three parts: $10,000, $25,000, and $50,000.
Dieudonne K. Perry, Executive Director of Smart Liberia, noted the significant increase in applications, attributing it to the success of the previous year’s project.
He outlined the use of questionnaires to gather essential information about agribusinesses to assess their eligibility for support.
He said, “To ensure a wide variety of agribusinesses can benefit from this program, this phase of the application process is required to ensure benefits for a diverse range of agribusiness ventures, outlining their visions, strategies and operational competency.”
Andrew Greaves, CEO of YONER Liberia, emphasized the transformative potential of the project for small enterprises, particularly in the agribusiness sector, urging participants to seize the opportunity to drive prosperity and make a meaningful impact in their communities.
Also speaking, the Deputy Director for Economic Growth at USAID Liberia, Joe-Hoover Gbadyu, encouraged potential applicants in the agribusiness sector to take advantage of the opportunity to present their businesses.
He stressed the importance of small and medium businesses in driving Liberia’s economic growth and highlighted that the program extends beyond the initial five counties to cover all 15 sub-divisions in Liberia.
“We know from experience around the world that small businesses generate the biggest economic growth,” he said.
Adding, “We are happy to launch Cohort II of the USAID Liberia Agribusiness Incubator and Development Activity in the agriculture space of Liberia.”
