The EBRD has announced a competition for innovations in agriculture and food production
The European Bank for Reconstruction and Development has announced a competition named AgVenture, the winners of which will receive grants, consulting assistance and the opportunity to promote their business, according to a press release from the EBRD.
The competition is designed to stimulate the development of agriculture and the food industry. It is open to participants from all countries in which the Bank invests.
The winning startups will receive individual consulting support in the amount of up to 80 thousand euros under the EBRD program Star Venture and a grant of 10 thousand euros for additional services, networking and participation in international specialized forums.
The goal of AgVenture is to find solutions to the problems faced by food systems. These include food security, climate change, and the inclusion of target groups and small businesses in global value chains.
Food security is the most pressing issue facing the world. The world's population is expected to increase to 9.6 billion people by 2050, which will increase water scarcity in agricultural areas.
The EBRD wants to solve some of these problems by promoting the development of innovative products, services and technologies, as well as making food production more sustainable, efficient and inclusive.
The bank will also encourage its clients to support startups and advanced technologies more actively by providing financing such as corporate venture capital.
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