The European Bank for Reconstruction and Development (EBRD) has announced the winners and runners-up of its prestigious EBRD AgVenture competition, which aims to support innovative early-stage agribusiness ventures. The competition seeks to address challenges in food production efficiency, climate change, and the inclusion of target groups and small enterprises in global value chains.
Kumulus, Biftek, and Smapp Lab emerged as the winners, while Cuppfee, Ondo, and Seabex were named the runners-up. The winning startups have developed cutting-edge technologies that answer some of the most urgent challenges the agribusiness sector faces.
Kumulus has developed a process for producing sustainable fresh water, Biftek has found a way to reduce the cost of lab-grown meat, and Smapp Lab has created a system that helps farmers optimize their pesticide use. These innovations can potentially revolutionize the agricultural sector and contribute to global sustainability efforts.
The winners will receive tailored advisory support worth up to €80,000 and a €10,000 grant for additional services. They will also benefit from global networking and visibility opportunities. The runners-up will receive up to €50,000 for tailored advisory services and a further €10,000 grant.
The EBRD is committed to promoting private and entrepreneurial initiatives contributing to sustainable development. Since its inception, the bank has invested over €180 billion in over 6,500 projects across three continents. The EBRD AgVenture competition is a testament to its ongoing efforts to support innovative solutions in the agribusiness sector, aiming to foster sustainable growth and positive social impact.
Image provided by EBRD