AgVenture 2024: this year, EBRD will finance six sustainable agricultural solutions
Developing technologies to make the world's agricultural and food industries more sustainable, including in Africa. This is what the 2024 edition of the AgVenture competition, recently launched by the European Bank for Reconstruction and Development (EBRD), is all about. The prize is funding and technical support for six start-ups operating in the economies in which the EBRD invests.
The European Bank for Reconstruction and Development (EBRD) continues to promote sustainable agriculture across the globe. The international organisation responsible for facilitating the transition to a market economy in the countries of Central and Eastern Europe, as well as in Africa, will be financing the green projects of six start-ups in the agricultural sector through its AgVenture competition. The competition supports innovative early-stage agri-food businesses and aims to address key issues facing food systems, such as food production efficiency, climate change and the inclusion of target groups and small businesses in global value chains.
The recently launched 2024 edition remains open until 19 August 2024. In addition to the food and agriculture value chain, the solutions presented will have to address “the issues of food processing and packaging, trade, logistics, distribution and retailing”, says the EBRD. This, in a context where food insecurity is on the increase, notably due to drought, demographic growth and wastage.
The first stage will involve selecting six finalists who will be able to present their projects on 30 September 2024 at the World Agri-Tech Innovation Summit in London, UK. To build up their expertise before the London event, the six nuggets will receive online pitching training.
The three winners will benefit from a personalised advisory service as part of the EBRD’s Star Venture programme, worth €80,000 for the winners and €50,000 for the three runners-up, over a period of 18 months. The Star Venture initiative draws on a dedicated network of mentors and advisers to provide start-ups with a range of tailored advisory services and industry best practice.
Cover photo: By AFRIK 21
