UAE Launches $2 Million FoodTech Challenge
The competition aims to address global food security challenges, particularly as the world prepares to feed an additional 2 billion people by 2050.
The UAE has launched the latest edition of the FoodTech Challenge at the Clinton Global Initiative (CGI) 2024 Annual Meeting in New York, coinciding with the UN General Assembly. The competition aims to address global food security challenges, particularly as the world prepares to feed an additional 2 billion people by 2050.
The FoodTech Challenge seeks early-stage, tech-driven solutions to transform food systems in difficult environments. Organized by the UAE Presidential Court’s International Affairs Office and Tamkeen, it is supported by partners including the Bill & Melinda Gates Foundation, the Clinton Global Initiative, ne'ma, and UAE agri-tech firm Silal. The competition is a Commitment to Action with CGI, and it was launched by FoodTech Challenge Co-Chairs, H.E. Mariam Almheiri, Head of the International Affairs Office at the Presidential Court of the UAE, and Rima Al Mokarrab, Chair of Tamkeen.
“With the rising demands for food, water, and energy in the face of climate change, we need bold action, innovative thinking, and a transformative approach to our food systems," Her Excellency said in a statement. “Through the FoodTech Challenge, we are ensuring that every country and region has the opportunity to participate in the exchange of ideas and investments on the critical issue of food security.”
Al Mokarrab added, "In the UAE, innovation is part of our DNA, and we’ve learned that the key to accelerating the pace of progress lies in combining forward-thinking ideas with partnership, inclusivity, and early-stage investment. This approach has proven effective in driving transformative outcomes, both locally and globally. The FoodTech Challenge harnesses this philosophy by identifying and connecting promising early-stage innovators with a wide network of partners. We are providing the resources and support needed to scale their solutions, fast-tracking efforts to meet the global goals for food security.”
This third edition of the FoodTech Challenge offers a $2 million cash prize and expands its focus to three areas: food and water, food and energy, and food loss and waste. Four winning startups will receive funding, go-to-market support, and access to a network of partners to help scale their solutions within the UAE and in underserved markets of the Global South.
With its desert climate and limited resources, the UAE serves as a suitable testing ground for innovations that could be applied globally. The competition aligns with the country's efforts to develop sustainable solutions for food security.
The FoodTech Challenge has received over 1,100 applications from 98 countries in its previous editions. Past winners have seen success, including Iyris (formerly Red Sea Farms), which raised $34 million after winning the competition and deploying its technology in Abu Dhabi.
Applications for the current competition close on December 12, 2024, with finalists to be selected in April 2025. Entrants can apply through the official website at www.foodtechchallenge.com.