UAE announces $2 million Global FoodTech Challenge Prize to attract cutting-edge agri-tech solutions

UAE announces $2 million Global FoodTech Challenge Prize to attract cutting-edge agri-tech solutions 

By: Abu Dhabi SME Hub
Opportunities

The winners will be offered an opportunity to scale up their business model within the UAE, supported with R&D, start-up acceleration, commercial incentives and mentorship to take winning concepts from lab-to-market.

The second edition of the global FoodTech Challenge, which seeks to find the next wave of technology innovations on the cusp of transforming traditional agriculture practices, efficiently and sustainably, was launched at the EXPO2020 Dubai, and today unveils the competition's pooled prize amount of $2 million.

Who is it aimed at

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 tracks: '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.

10 finalist teams will be selected by leading industry experts, before competing at a two-day event featuring workshops, networking sessions, panel discussions and an awards ceremony in November 2022.

What's on offer

With a pooled prize of up to $2 million, the winners will be offered an opportunity to scale up their business model within the UAE, supported with R&D, start-up acceleration, commercial incentives and mentorship to take winning concepts from lab-to-market. Applications are being encouraged from around the world, with a priority on agri-tech concentrated nations.

Applications for the Challenge will remain open until June, when submissions will be shortlisted and the top 10 teams given an opportunity to present their business cases at the Awarding Ceremony in November. Entrants can submit their applications via www.foodtechchallenge.com

The FoodTech Challenge is organised by the UAE Ministry of Climate Change and Environment and Tamkeen, an Abu Dhabi entity that partners with leading local and international institutions to deliver projects that enrich the UAE's social, cultural and educational landscape. For this edition of the competition, they are joined by ASPIRE, the programme management pillar of the Advanced Technology Research Council (ATRC), which oversees technology related R&D funding for Abu Dhabi and the wider UAE. Each track is also being supported by a local champion, with ADQ and Silal being the track partners for increasing food production, and Emirates Foundation the track partner for reducing food loss and waste. 

The competition is additionally supported by Abu Dhabi Global Market, Abu Dhabi Residents Office, The Catalyst Accelerator, and Khalifa Fund for Enterprise Development.The first edition of the FoodTech Challenge saw 437 applications from across 68 countries, with winners announced from Australia, Saudi Arabia, the UAE and the UK.

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