FOR its innovation and economic impact, Nigerian-run start-up, First Atlantic Semiconductors and Microelectronics (FASMICRO), has won a N10 million grant by the United States Agency for International Development (USAID) and the Western Union Company in partnership with African Diaspora Marketplace (ADM).

The technology start-up bagged the award in Washington, United States, alongside 13 other US-based entrepreneurs of sub-Saharan African decent, who were selected from more than 400 star-ups that submitted business plans for consideration.

The company was one of the top seven awardees, who would get a package valued at about N10 million, including a N6 million matching cash grant, technical assistance provided by Deloitte Consulting and round-trip airfare provided by Ethiopian Airlines.

Commenting on the award, chairman of FASMICRO, Dr. Ndubuisi Ekekwe, said the value for the award goes beyond the grant money, as the technology, which
received the award, will be in the market to support farmers across Africa.

“By partnering with USAID, we will have access to these farmers. USAID partners are providing necessary support to ensure we deliver services that will improve yield and productivity of farmers. With this award, our pan-African strategy to transform crop farming in Nigeria will happen
because we have the networks and partners to help accelerate the penetration of our innovation,” he said.

Some of the other awardees include Actuel Urban Living PLC; Hello Tractor, Inc.; mDoc; MLT Consultants Namibia; NextGen Solar Cape Verde, Unipessoal, LDA and Zalli Foods.

Regional Vice President for Africa, the Western Union Company, Aida Diarra, said it was a privilege to witness how diaspora communities are fostering positive change in their home countries every single day.

“The African Diaspora Marketplace is an incredibly powerful example of their efforts. Through our support of ADM III, and other programs around the world, Western Union magnifies this good work, helping to drive financial access and economic opportunity in developed and developing countries, ” he added.