Deadline: March 1, 2023
Applications for the Louis Dreyfus Company Climate Resilience Prize 2023 are now open. Louis Dreyfus Company (LDC) and MassChallenge Switzerland are pleased to introduce the LDC Climate Resilience Prize of CHF 100,000 to support startups working to drive climate resilience in agriculture and food value chains.
A leading merchant and processor of agricultural goods, LDC’s vision is to work toward a safe and sustainable future by contributing to the global effort to provide sustenance for a growing population. As a strategic investor, LDC is looking to connect with and invest in companies with whom it can add value as a cornerstone supplier, customer, or partner. Its corporate venture capital programme, Louis Dreyfus Company Ventures, provides equity capital to early-stage companies developing innovative and sustainable products, technologies, processes, and solutions with the potential to transform food and agricultural production, and make LDC’s operations more profitable, sustainable, or efficient.
MassChallenge Switzerland is facilitating meaningful connections between LDC and selected startups, with the goal of finding breakthrough solutions to critical challenges in food and agricultural supply chains, adding real value for customers and markets while protecting the environment and safeguarding natural resources.
In line with these goals, the LDC Climate Resilience Prize will be awarded to the food and/or agriculture startup with the biggest climate impact potential.
- One winner will receive a no-strings-attached, non-dilutive cash prize of CHF 100,000 at the MassChallenge Switzerland Awards attended by over 400 people. This prize is additional to any cash prizes that early-stage startups might win in the accelerator.
- Early-stage startups (<$2M capital raised and <$2M sales) will participate in MassChallenge Switzerland’s accelerator, helping startups across Europe grow their businesses, and annually accelerating 100+ early-stage startups.
- All startups will participate in workshops and receive resources & coaching to help quantify their climate resilience solution.
- An opportunity to connect and collaborate with investors looking to positively and sustainably impact food and agricultural value chains, including a direct connection to decision owners at LDC and, if relevant and desired by you and LDC, potential discussions about scaling your solution.
- Publicity at the final judging event in Lausanne, Switzerland, and through LDC Climate Resilience Prize press releases.
They are looking for startups that:
- Have impactful products, technologies, processes, and solutions that can contribute to climate resilience in food and ag-tech, by decarbonizing the food value chain. Startups will be asked to quantify their solution’s impact in relation to CO2e removed/avoided over the next 10 years until 2034. For example: How many tons of CO2 will you avoid emitting, or sequester per ton of your product per annum, how many cubic meters of fresh water will you save per annum, how many tons of waste material will you prevent from being emitted each year, or how many tons of natural resources will you recover or prevent from being wasted each year.
- Have a viable idea. Startups must be able to demonstrate traction amongst those participating in their solution, as well as how their idea is financially sustainable. For example: data showing sales to consumers or manufacturers or farmers, or the size of their supply base (ie farmers); their business model.
- Have a scalable idea. Startups must be able to show how their solution scales and that their pricing is market competitive. Scaling could involve LDC, but this is optional. For example: reach millions of farmers, be sold to millions of consumers, be applied in manufacturing plants.
- Are from Pre-seed to Series C+. They encourage both early and late stage startups to apply. What’s important is the impact, viability and scalability of your idea and how it contributes to climate resilience in Food and Ag-tech.
- Are from any geography. However, as physical accelerator events are in Switzerland, so startups should ensure they are able to travel to Europe. The selection process will be carried out online.
- Apply and be accepted into the Sustainable Food, Sustainable Industry, or Climate Solutions track in the MassChallenge Switzerland startup accelerator. Relevant startups will automatically be entered into the competition. Apply here by March 1.
- If you are a later-stage startup (> $2M Funding) and want to compete for the prize, apply here, and they will follow up with you.
- Successful startups will be invited to participate in a physical event at MassChallenge Switzerland on June 29, participating in workshops and receiving resources/coaching to help them quantify their climate resilience solution.
- Startups who have successfully quantified their impact using MassChallenge’s guidance will pitch at a semi-final online, and a final in Lausanne to a jury to determine the winner.
- The winning startup will be announced on stage at MassChallenge Switzerland Awards on October 26.
For more information, visit LDC Climate Resilience Prize.