Of course, that they won does not come as a surprise. Microbial-based solutions for agriculture are among some of the new innovations making waves in the sector in the developed world. The market for these products is valued at $2.3 billion globally). Biome Makers raised $2.2 million in seed funding in 2016 alone.
Unfortunately, the appreciation of microbes and the potential microbial-based solutions have for improving agriculture in Africa is in its infancy. It hasn’t yet enjoyed the same traction as in developed countries.
It is easy to understand why this industry has been slow to jump start in Africa. The startup costs associated with setting up cutting-edge laboratories that are equipped to do soil microbial research are high. They range from $300,000 to $1,000,000. This means we’re yet to see research institutions or private industries based in Africa taking the lead in spearheading this research.
African initiatives
Despite the hurdles, a few initiatives are starting to roll out across Africa.