The European Bank for Reconstruction and Development (EBRD) announces the launch of the AgVenture competition and will consider applications from innovative early-stage agribusiness companies from all countries in which the EBRD invests. The aim of the initiative is to find ways to overcome challenges in the food system.
It is noted that the goal of AgVenture is to address the main challenges faced by food systems today, in particular in areas such as food security, climate change, and the inclusion of target groups and small businesses in global value chains.
“The most urgent of these global issues today is food security, given the forecast of global population growth from 7 billion in 2012 to 9.6 billion in 2050. In addition, activities in all segments of the food chain are negatively affected by climate change. In particular, rising temperatures lead to an exacerbation of the problem of water availability in agricultural regions,” the report says.
To address some of these challenges, the EBRD wants to focus on fostering the development of innovative products, services and technologies that will make food production more sustainable, environmentally friendly, efficient and inclusive.
The winning startups will receive individualized advisory assistance worth up to €80 thousand through the EBRD Star Venture program and a €10 thousand grant for additional services and opportunities for networking and visibility at international forums.
The winners will be announced in late April.