The UAE is offering a prize money of up to $2 million for startups that can propose cutting-edge agri-tech solutions for food production and management in the country, Zawya reports.
Initiated by the UAE Ministry of Climate Change and Environment, the prize is part of this year’s edition of the global FoodTech Challenge that invites innovations related to two critical tracks: food production, and food loss and waste, the media notes.
The competitors include early-stage start-ups, including international university-based research teams, individual entrepreneurs and small firms.
The initiative aims at addressing the availability and abundance of food and exploring “next gen”, nutrient-rich alternatives, as well as ensuring sustainability across the food supply chain and the planet.
Participants will also earn the opportunity to scale up their business model within the UAE. Applications are being encouraged from around the world, with a priority on agri-tech concentrated nations.
UAE launches $2mn prize money for startups with innovative ideas in agri-tech
