The European Bank for Reconstruction and Development (EBRD) recently launched its EBRD AgVenture competition to support early-stage agribusiness ventures dedicated to finding solutions to the global food system’s significant issues. These issues include food security and climate change, which have the potential to impact millions of people and communities around the world.
The EBRD aims to address these challenges by supporting the development of innovative products, services, and technologies in the agribusiness sector. The bank is seeking start-ups with creative ideas that can help to ensure food security and mitigate the effects of climate change. To support these start-ups, the EBRD provides up to €80,000 in tailored advisory support and a €10,000 grant. The EBRD is also encouraging its existing and potential clients to provide financing for advanced technologies in the agribusiness sector. The plan will ensure that these start-ups have the resources they need to scale their businesses and achieve their goals.
The competition was launched with an online event that connected investors with prospective participants. This event provided a platform for start-ups to showcase their ideas and connect with potential investors and partners. The winning start-ups will be revealed at the end of April, and they will receive support from the EBRD to help them bring their innovative solutions to market.
The EBRD has a long history of promoting private and entrepreneurial initiatives, having invested over €180 billion in 6,500 projects since 1991. The EBRD AgVenture competition is just one example of the bank’s commitment to supporting the development of innovative solutions in the agribusiness sector. Moreover, by supporting early-stage start-ups, the EBRD is helping to build a more sustainable and resilient global food system for the future.