FoodTech Challenge 2022 for Early-stage Agri-Food Tech Start-ups (up to $2 Million)

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FoodTech Challenge 2022 for Early-stage Agri-Food Tech Start-ups is currently accepting applications from eligible candidates.

The FoodTech Challenge 2022 is currently accepting applications. The FoodTech Challenge aims to identify the next generation of technological breakthroughs that have the potential to alter food and conventional agricultural methods in a cost-effective and long-term manner.

The competition, which is aimed at early-stage start-ups ranging from international university-based research teams to individual entrepreneurs and small businesses, is looking for innovations in two key areas: ‘food production to address food availability and abundance and explore ‘next gen’, nutrient-rich alternatives, and ‘food loss and waste’ to ensure sustainability across the food supply chain and the planet in general.

Award:

The total prize pool is valued at the US $2 Million and consists of cash awards, incentive schemes, start-up acceleration, and R&D support.
The FoodTech Challenge will cover transportation, and accommodation costs for a select number of finalists to visit the UAE (subject to travel restrictions).

Eligibility:

All individuals above the age of 18 are eligible to compete. They’re searching for early-stage agrifood tech start-ups in the areas of food production and food waste. In order to be considered, your startup must:

Address the value chain’s ‘Food Production’ and ‘Food Loss and Waste’ parts.
Have not yet pursued a Series-A round of investment.
Have a minimum viable product that works.
Have not been in business for more than 5 years.
Have a maximum of 25 workers.

Selection Criteria: Applications will be evaluated based on:

Technology: Applications must be feature value-adding technologies that have the potential to transform the food and agriculture sectors through unique solutions.
Commercial Viability: Applications must have a clearly identified and significant addressable market and a pathway for financial viability over the medium term.
Environmental Sustainability: Applications must demonstrate efficient use of natural resources and contribute to the environmental sustainability of food and agriculture.
UAE Relevance: Applications must target a food security challenge relevant to the UAE, and solutions must have the potential to be deployed in the country.
Pathway to UAE Impact: Applications must have a well-formed, actionable plan for how their solutions can be tested, developed, and potentially launched (or scaled up) in the UAE.

How to Apply:

You must establish an account on the competition submission platform to participate in the FoodTech Challenge.
Log in to view the application form after creating an account and verifying your email address. You’ll need to supply details about your firm and suggested solution, as well as brief replies to various questions, a full business case with more company details, and a sample film of your solution.
If you want to get input before the Regular Submission date, you may choose the Early Submission option, which requires you to submit the application form along with an executive summary by the Early Submission deadline (May 20, 2022). If you’re selected, you’ll get feedback and be requested to submit the additional supporting materials (full business case + demo film) by the Regular Submission date (June 24, 2022).
You may submit your application after you’ve given all of the essential information.

Click here to apply

Visit the official website for more information.