GAIN and UN WFP Launched a Challenge to Innovate Food Frontiers Urban Food Systems
A new challenge for emerging youth entrepreneurs to bring disruptive innovation into the urban food system, entitled “Food Frontiers, Urban Food System Innovation Challenging, 2020,” has been launched by the Scaling Up Nutrition (SUN) Business Network (SBN) co-convened by the Global Alliance for Improved Nutrition ( GAIN and the UN World Food Programme, WFP).
To Innovate Food Frontiers Urban Food Systems, te application submission will end on 3rd June, 2021. The winners in this competition will receive pre-seed funding of up to USD 15000 to support their business ideas.
Food Frontiers aims to identify interfering innovations in Bangladesh’s urban food system. It aims to build young entrepreneurs capacity for sustainable food systems, develop business skills, co-design business models for a transition towards sustainable food systems, and build a pre-seed investment pipeline for interruptive innovative ideas.
Three broad thematic areas concerning urban food systems should form part of the ideas or business solutions used in the programme.
The thematic areas are : Circular food flow economy, Disruptive technological innovation and Innovative marketing campaigns.
In the circular food flow economy thematic area, applications are expected to develop a full food production, recycling and reuse of renewable and non-renewable resources in a closed loop scheme from early ideas, start-ups, SMEs or social enterprises within consortia/alliances or in partner companies. Innovations to reduce/recycle plastic wastes from food packaging to productive use of organic food waste are expected.
The second thematic area is disruptive technological Innovation under this thematic area, applications by individuals, firms or students that show significant impact in the urban context on food & nutrition, with a clear business feasible scale-up plan. The main forms for start-ups in the urban food system are the adoption of digital technologies such as blockchain and regenerative farming systems.
The innovative marketing campaign is intended to develop intelligent marketing campaigns to promote healthy food consumption or reduce food waste or increase energy efficiency in food systems for business entrepreneurs and aspiring sales representatives.
The accelerator partner of this event is Stellar Value Partners (SVP Limited) and Turtle Ventures. Golpo is working as a communication partner of the program.
The 10 shortlisted enterprises will take place in a virtual bootcamp session for a seven day session on customized investment preparedness training, business specific guidance, investor connections, one-to-one consultancy from experienced mentors and successful food entrepreneurs, ongoings SBN and GAIN support and access to domestic resource services.
Read More: Investors’ Guide to Tech Startup Valuation
Mehjabin Zaman Mahee
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