Funding Agriculture: Unearthing Africa’s Potential

Alex Muriu in a superhero stance after the conclusion of GIST Tech-I 2013 competition in Kuala Lumpur, Malaysia.

Alex Muriu in a superhero stance after the conclusion of GIST Tech-I 2013 competition in Kuala Lumpur, Malaysia.

Alex Mwaura Muriu’s newest venture, Farm Space Africa, strives to address the issue of food shortages in Africa, despite the fact that 70% of the continent’s employment comes from agriculture. Farmers across the region currently struggle to expand their businesses due to a lack of funding. Farmspace Africa aims to fill this funding void and help boost the agricultural industry in Africa.

Farmspace Africa is a mobile application where urban middle to upper class individuals, investment groups, and other investors can provide crowd source loans and investments to small agricultural businesses and farmers. The mobile platform allows the service to be widely accessible by farmers and investors alike, while its crowd funding nature is also intended to dilute risk. Alex, 27, hopes this brand of micro-finance will propel Africa’s economies into a future of prosperity.

Growing up in Kenya, Alex draws inspiration from his mother, a small business owner who has been working and raising her children for 30 years. He says her perseverance and courage to venture into unknown territories motivates him. He has founded, and is currently running, two other tech startups.

Farm Space Africa received an Honorable Mention Award at GIST Tech-I 2013, during the Global Entrepreneurship Summit in Malaysia. When asked to describe his experience with GIST, Alex said: “One word: ‘Amazing.’ [Our mentor] Kia Davis is widely read and has greatly helped us refocus our efforts on the right things. The GIST Tech Connects have also been quite useful in helping us maneuver these murky startup waters.”