TO ensure the growing global population is always fed well, the search for the newest and most promising enterprises in the food and agriculture technology (agritech) industries is now ongoing.
These “undiscovered” innovative business models could help achieve this ever-evolving challenge. The pioneering edition of the Future Food Asia Award (FFAA) is exclusively open for pre-Series A start-ups in these fields that originated in Asia-Pacific region.
Since time immemorial, the world has been battling with the supply and delivery of food for continued existence of mankind.
With the rising middle class, changing consumption patterns and scarcity of arable lands, new solutions to enhance food production in a sustainable way is highly needed at present.
It is for this reason that the ID Capital, supported by the Economic Development Board of Singapore and Archer Daniels Midland Co. (ADM), launched this competition for the first time.
FFAA came into being since agriculture challenges are region-specifice. Hence, local enterprises and stakeholders are the best to address these problems.
“We work hand in hand with our customers every day to find new ways to meet the challenge of successfully feeding the world while minimizing our impact on the planet,” said Ian Pinner, ADM president for Southeast Asia, Australia and New Zealand, and Global Destination Marketing.
“We recognize the tremendous potential for growth and investment in unique and cutting edge new innovative technologies in food and agribusiness technologies across Asia Pacific, and are excited to be a part of the Future Food Asia platform,” he added.
Open until March, applicants can apply online at www.futurefoodasia.com. They will be evaluated by an international panel of judges.
Finalists will be presented to an audience comprising investors, corporations and technology teams.
The awarding ceremony in Singapore in May of this year will feature distinguished keynote speakers on the topic of food and agritech, and sustainability.
Apart from winning the innovation prize of $100,000, this competition serves as a platform to widen the network and become more visible to international corporates who can be of help to achieve business growth.
“We have received a warm welcome from the various stakeholders and entrepreneurs, in particular. We have approached so far in several countries. We believe FFAA can bring a significant contribution to the development of the essential ecosystem for agriculture and food technologies to flourish in the region,” said Isabelle Decitre, CEO and founder of ID Capital.
An investment and consulting boutique firm headquartered in Singapore, ID Capital has screened and sourced 100 agritech and foodtech deals in the last two years and has been actively involved in the closing of two venture- capital investments in this sector.
ADM is one of the world’s largest agricultural processors and food ingredient providers, with more than 32,300 employees serving customers in more than 160 countries.
With a global value chain that includes 428 crop-procurement locations, 280 ingredient-manufacturing facilities, 39 innovation centers and the world’s premier crop-transportation network, the company links the harvest to the home, making products for food, animal feed, industrial and energy uses.