At the World Agri-Tech Innovation Summit, one of eight finalists will win $250,000 in equity investment after a pitch competition.
The $250,000 catalyst investment is designed to help tech startups in the agribusiness space get the capital needed to scale up their business capabilities, according to a news release.
Rethink Events, hosts of the World Agri-Tech Innovation Summit March 20-21, has a new partnership with Radicle Growth, a San Diego-based organization looking to grow early stage agricultural and food technology startups.
Radicle has pledged the $250,000 in equity investment, to be presented to the winner chosen from eight finalists at the summit. Each year, tech startups in agribusiness solutions present their ideas to a group of investors and agribusiness experts at a preview Pitch Day competition, with the winner going on to present at the summit’s Technology Showcase.
The launch of The Radicle Challenge with its funding opportunity marks a significant change for the annual Pitch Day competition, according to the release.
“We are making a meaningful seed stage commitment to ensure that we attract the best entrepreneurs,” Kirk Haney, CEO and managing director of Radicle Growth, said in the release. “The $250,000 is tailored to the unique needs of agtech entrepreneurs to ensure they have enough capital to get to the next level. If we believe in them, we move fast, and the World Agri-Tech event attracts a great global cross-section of the most exciting and interesting innovators.”
The Radicle acceleration fund focuses on the areas of digital agriculture, biologicals, new farm systems and seed technology.
Final deadline for entry is Jan. 19. For entries, criteria and terms and conditions are at www.worldagritechusa.com/pitch-day-radicle-challenge.