The European Bank for Reconstruction and Development (EBRD) has launched the EBRD AgVenture competition, which welcomes applications from all the economies in which the EBRD has invested, to support innovative early-stage agribusiness initiatives.
EBRD AgVenture aims to tackle key challenges facing food systems, such as food security, climate change, inclusion of target groups and small businesses in global value chains.
The world population, which was approximately 2012 billion in 7, is expected to increase to 2050 billion in 9,6. In addition, climate change is negatively affecting all activities in the food chain with increasing temperatures. continues to increase water stress in agricultural areas.
The EBRD seeks to address some of these issues by advancing the development of innovative products, services and technologies, and by making food production more sustainable, efficient and inclusive.
Winning start-ups will receive up to €80.000 in private consulting support through the EBRD's Star Venture programme, and a €10.000 grant for additional services, networking and visibility opportunities in international forums.
Current and potential clients of the EBRD will be encouraged to take a more active role in the start-up sector by supporting advanced technologies or providing financing such as corporate venture capital.
The competition was launched during an online event to connect investors with potential entrants, where speakers shared what they were looking for in food and agriculture technology start-ups. Noga Sela-Shalev, CEO of Fresh Start foodtech incubator attended the event, and panelists included: Jan Kobler, Managing Partner of South Central Ventures; Robin Saluoks, CEO of eAgronom; and Micol Chiesa Churchill, Partner of the Planet Fund and Head of Climate Science.
The winning start-ups will be announced at the end of April.
Since 1991, the EBRD has invested over €6.500 billion in more than 180 projects across three continents to foster the transition to open market-driven economies and foster private and entrepreneurial enterprise.
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