Home Startup Here’s a $2M Opportunity to Fund Your Innovative Farming Solution
Startup - May 7, 2021

Here’s a $2M Opportunity to Fund Your Innovative Farming Solution

The Milken Institute and the Motsepe Foundation have teamed up to launch a $2 million agri-tech fund that will finance creative farming solutions.

The agri-tech prize is part of the Milken-Motsepe Innovation Prize programme, which is a multi-year effort to concentrate global innovators and entrepreneurs on creating technical innovations that speed up progress toward implementing sustainable agriculture.

Multiple technology prize competitions will be held in the areas of electricity, education, and health, but the programme will begin with agriculture. From seed to sale, the Milken-Motsepe Prize in AgriTech is a US$2 million global competition for creative ways to improve economic value for farmers.

The competition will select up to 25 teams to each receive US$10,000 to create small-scale prototypes over the next six months, thanks to comprehensive and inclusive consultations with more than 50 experts from a range of disciplines, representing academia, business, and government to determine the competition criteria and evaluation metrics.

Teams will present their entrants in field tests in the final round, and judges will award a grand prize of $1 million, with additional prize money going to second and third place winners, a prize for the most innovative use of Fourth Industrial Revolution technology, and a People’s Choice Prize. Teams have until December 8 to register and apply their business plans and designs.

Dr. Patrice Motsepe, founder and chairman of the Motsepe Foundation said “Fourth Industrial Revolution technologies have the power to solve complicated socio-economic and human problems. In the hands of entrepreneurs, these technologies can turn Africa into a global economic powerhouse and transform the world,”

“Precious and I are thrilled to partner with Mike Milken and the Milken Institute to launch this prize that encourages African and global entrepreneurs to innovate and use 4IR technologies to address some of Africa and the world’s most pressing challenges and improve the living conditions and standards of living of people globally.”

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