The Milken Institute and the Motsepe Foundation have partnered to launch A US$2 mil fund that is aimed at supporting agritech startups. This initiative is part of a grand plan for other technology prizes in areas like energy, health and education.
However, the first port of call for the Milken-Motsepe Prize is agriculture and they are looking for entrepreneurs who have solutions that will increase the economic value for farmers as they move from planting to market.
As I am sure you would have already guessed, another angle to this competition is fulfilling the United Nation’s Sustainable Development Goals 1 and 2. Which are an end to povery and hunger.
The contest will have 2 rounds which are:
- A design round, where teams submit their business models which will be judged by a panel of experts. From there 25 teams will be selected and will receive US$10 000 each.
- The final round is where the chosen startups will develop and test their prototypes on small to medium farms in Africa.
The winning team will receive US$1 million as the grand prize with the runners up scooping various cash prizes.
Applications are now open for the Milken-Motsepe Agritech prize and you can find the application form with the link here.