Neycha Accelerator & Fund in Kenya and Uganda

The Neycha Accelerator & Fund (Neycha) advances food system innovators and entrepreneurs who are working towards a more regenerative and agroecological food system (from input provision, processing to consumption) and contributing to a more holistic and circular agrifood economy in East Africa.

Why partner with Neycha?

Through Neycha, you will be getting a growth partner for your business who will provide capacity, capital and connections.

• Build your capacity through:
  • Tailored business training, mentorship and business coaching from top business and agroecology experts focused on strengthening your business model, strengthening your value chain, developing a clear growth plan, strengthening your agroecological impact, and more.
  • Small Technical Assistance grants including:
    • Up to USD 5,000 to work with a consultant to build your capacity.
    • Up to USD 5,000 to support certification of your products or services.
  • Learn from other AEEs in Uganda and Kenya.
  • Learning visits to other leading AEEs in the region.
• Get Capital of Between USD 10,000 – USD 50,000, Tailored to Your Business Needs
  • Direct loans
    • Amount: Up to USD 50,000 in local currency.
    • Interest rate: 15 – 18% in Uganda and 8 – 12% in Kenya (difference is due to Central Bank Rates in each country).
    • Average term – 24 months.
    • Expected use of funds – Working capital.
  • Revenue share loans
    • Amount available: Up to USD 50,000 in local currency.
    • Payment terms: 10% of annual revenue with a 2 – 2.5x multiple.
    • Expected use of funds – Working capital & Asset acquisition.
  • AEEs will have the opportunity to borrow multiple times until they are able to support them in raising sufficient capital from the investor network to continue to grow.
• Grow your connections through:
  • Introductions to potential partners, investors and stakeholders.
  • Linkages to markets.
  • Being showcased through the platforms as an AEE role model.
  • Join a community of other like-minded AEEs.
  • Learn from other AEEs in Uganda and Kenya.
  • Learning visits to other leading AEEs in the region.

Why Agroecology?

• Generate Local Wealth
  • Due to more jobs, increased incomes, increased financial returns and higher tax revenue.
• Improve Wellbeing
  • Due to increased safe, healthy, local culturally adapted food, and fair employment.
• Healthy Territorial Markets
  • Due to more successful local resilient businesses.
• Circular Economies
  • Building resilience, improving soil health and improved biodiversity.

Who is eligible?

• Agroecological Enterprises
  • Agroecological Enterprises, with a clear agroecological passion, impact and vision. They could be operating anywhere along the agriculture value chain and are supporting farmers to transition to agroecology or are promoting and operating in line with the 13 principles of Agroecology, including:
    • Organic input supply and pre-production support for farmers practicing agroecology.
    • Entrepreneurial farms practicing agroecology beyond a single farm.
    • Purchasing, trading and marketing agroecological produce.
    • Processing agroecological produce.
    • Retailing agroecological produce and products e.g supermarkets, other types of markets.
    • Promoting consumption of agroecological produce and products e.g restaurants, hotels, etc.
• Business Criteria
  • Registered For Profit private enterprise operating in Uganda and/or Kenya.
  • Business is at least 3 years old and is past pilot stage with an existing customer base and sales generating at least USD 40,000 (or equivalent in Uganda shillings or Kenyan shillings) in annual revenue.
  • The business has a clear market opportunity and strong value proposition matching this opportunity – its okay if this is not fully and clearly outlined. What they care about is a viable business model.
  • The business is profitable or has a clear path to profitability.
  • The business has at least 3 years audited books or 24 months management accounts.
  • The business has a clear 2-3 year growth plan. This does not need to be fully and clearly outlined for example through a business plan.
  • The business is interested in building their capacity and attracting capital to achieve their growth plan.
• The Team
  • The founders are passionate about agroecology or the principles of agroecology. You do not need to have been aware of agroecology before as long as you are passionate about the idea and the principles behind agroecology.
  • Locally led team – at least one of the founders is a Ugandan or Kenyan.
  • The business has at least 2 other employees, with at least one founder woking full time on the business.
  • The founders are entrepreneurial – risk takers, problem solvers, ambitious and interested in building a success business.
  • The founder(s) are ready to commit to a partnership with Neycha to grow the impact and success of their Agroecological Enterprise.
  • The founder(s) have prior business and startup experience, ideally closely related to the current business – however this is a nice to have and not having this will not prevent your selection.

For more information, visit SHONA.