The COVID-19 pandemic and resulting lockdown measures had a huge setback on food production and accessibility resulting in poverty and hunger in developing nations.
A report states that more than 100 million Africans are battling catastrophic food insecurity levels and it is predicted that the situation might be worse in the coming months specifically between June and August 2021.
As regards this, the Milken-Motsepe Innovation Prize program is launched and encourages innovative solutions that can enhance economic value to farmers, from seed to sale, consequently fastening progress to attain Sustainable Development Goals 1 & 2: no poverty and zero hunger.
The Milken Motsepe Innovation Prize program is a series of annual multimillion-dollar prize competition for a technological solution which accelerates the achievement of UN SDGs in Africa.
The Motsepe Foundation is a U.S based nonprofit think tank, a joint initiative of the Milken Institute, a South African organization dedicated to poverty eradication and enhancing the quality of African lives and beyond. The inaugural Agritech Prize seeks African and world entrepreneurs with the ability to innovate and deploying 4IR technologies to solve some of the most challenging issues in Africa and the world.
Competition Rounds
The competition is structured in two phases:
- Design round: this round requires teams submit their design and business model. An independent panel of expert judges will select up to 25 teams to receive $10,000 each and advance in the competition.
- Finalist round: Selected teams build their prototypes and conduct field tests on small and medium-sized farms in Africa.
Expectations
Winning teams will boost net economic value to small and medium-sized farms as they:
- Develop innovative technology solutions for any stage of the food system, from seed to sale
- Design a viable business model
- Increase farm productivity and/or decrease post-harvest loss
Prize benefits
Additionally, while trying to win cash prizes, the Milken-Motsepe Innovation Prize program provides entrepreneurs a rich set of opportunities.
- $1 million grand prize, with $1 million in additional prizes for the winning team
- Access to an online community where participants will receive resources, online training, team matchmaking among other benefits.
- Teams will receive a 12-week experiential learning program powered by the Stanford Center for Professional Development Idea to Market curriculum. Upon completion of the program, teams will be awarded a Stanford Center for Professional Development Certificate of Completion
- Mentoring from industry experts.
- Pitch and feedback sessions.
- Opportunity to join the Milken-Motsepe Innovation Prize program alumni network where winning teams can access investors, data analysis, and networking opportunities.
Deadline
Entries close on Wednesday, December 8, 2021. Registration is free and open to all. Click here to register.
