Future Food Asia Award returns for its second edition with continued support from Singapore Economic Development Board, one of the world’s largest agricultural processors and food ingredient provider Archer Daniels Midland Company (NYSE: ADM), lead public research agency A*STAR (Agency for Science, Technology and Research) and enterprise development agency SPRING Singapore.
It is joined by global science-based company Royal DSM, active in nutrition science and innovation across Asia Pacific and global agricultural commodities and food merchant Louis Dreyfus Company.
After a highly successful inaugural year, the Future Food Asia Award returns to recognize the leading AgriTech and FoodTech start-ups across Asia Pacific. Competitors will compete for a grand prize of USD$100,000, and an additional four S$50,000 Startup SG grants sponsored by SPRING Singapore, in consultation with the FFAA judging panel.
Applications will open in the first week of February. To qualify, applicants need to have done a proof-of-concept and come up with an innovative and sustainable technology that impacts the food ecosystem positively.
The selection of the eight finalists will be done by the same jury panel as in 2017, consisting of four experienced and diverse jury members. The panel includes Gérard Jacquin, former Director of Partnerships, Transfer and Innovation at INRA, Europe’s leading agricultural research institute; Dr. Ralph Graichen, Director of Food and Nutrition at A*STAR’s Biomedical Research Council; Victoria de la Huerga, Vice President of ADM Ventures, Archer Daniels Midland Company; and Isabelle Decitre, Founder and CEO of ID Capital.
The final award event will be hosted in Singapore in the second half of May 2018, where finalist startups will have the unique opportunity to present their technology to a room full of industry thought leaders and investors.
Last year’s competition generated an overwhelming response, with AgriTech and FoodTech startups from 19 different countries from the wider Asia Pacific region applying. The diversity of Asia Pacific was well reflected in both the deal flow of applicants and the finalists. It has proved that world class innovation is very much present in Asia Pacific in the AgriTech/FoodTech sectors.
Finalists benefited immensely from the exposure as well as from the constant efforts of the ID Capital team to provide access to corporations, investors, media, advisors and government agencies across the region.
“2018 will see a few additions. To reflect the importance of the challenges addressed and the relevance of some technology-enabled solutions we are adding five new categories – Agri Marketplaces, Agri Finance, Food Fortification, Smart Manufacturing Technologies and Smart Packaging. The new categories ensure we are on trend, as the sector begins to expand its horizon. We will also keep progressing all finalists into the Future Food Asia Platform, which provides structured support to these entrepreneurs” says Isabelle Decitre the Founder and CEO of ID Capital, which spearheads the Future Food Asia initiative.
The sector continued to grow steadily, with AgFunder reporting investments of US$ 4.4 billion in H1-2017, a 6% increase on H1-2016. With challenges of population, urbanization, land scarcity and global warming continuing to loom, nurturing innovators working towards sustainable food solutions remains essential.
Applications for the Future Food Asia Award will close in the first week of April 2018.
