FoodTech Challenge 2022 for Early-stage Agri Food Tech Start-ups (up to $2 Million)
Deadline: June 24, 2022
Applications for the FoodTech Challenge 2022 are now open. The FoodTech Challenge seeks to find the next wave of technology innovations that are on the cusp of transforming food and traditional agriculture practices, efficiently and sustainably.
Targeted at early-stage start-ups, ranging from international university-based research teams to individual entrepreneurs and small firms, the competition invites innovations related to two critical areas: ‘food production’ to address the availability and abundance of food and explore ‘next gen’, nutrient rich alternatives, and ‘food loss and waste’ to ensure sustainability across the food supply chain and the planet more broadly.
- The total prize pool is valued at 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).
The competition is open to all participants above 18 years old. They are specifically looking for early-stage agri food tech start-ups within Food Production and Food Loss and Waste.
To be eligible to participate, your start-up should:
- Address ‘Food Production’ or ‘Food Loss and Waste’ segments of the value chain;
- Have not yet gone for a Series-A funding round;
- Have a workable minimum viable product;
- Have been in operation for less than 5 years;
- Have no more than 25 employees.
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.
To participate in the FoodTech Challenge, you will need to create an account on the competition submission portal.
After you have created an account and verified your email address, login to access the application form. You will have to provide information about your organization and proposed solution, along with short responses to several prompts, a detailed business case featuring additional company information, and a demo video of your solution.
If you would like to receive feedback prior to the Regular Submission deadline, you may opt for the Early Submission route, which entails submitting the application form alongside an executive summary by the Early Submission deadline (May 20, 2022). If shortlisted, you will then receive feedback as relevant and be asked to provide the remaining supporting information (detailed business case + demo video) by the Regular Submission deadline (June 24, 2022).
Once you have provided all the required information, you can submit your application!
For more information, visit Food Challenge.