Key Takeaways:
- The Post Harvest Loss Innovation Prize aims to empower smallholder farmers by reducing post-harvest losses.
- The application deadline is July 31, 2024, with winners announced on September 25, 2024.
- The challenge seeks scalable, cost-effective solutions that use clean energy technologies.
- The prize includes a $50,000 financial reward, access to industry leaders, and post-investment support.
- Applications are open to startups, universities, non-profits, and for-profit companies.
Groundbreaking Solutions Sought to Reduce Post-Harvest Loss for Smallholder Farmers in South Asia and Sub-Saharan Africa
The Challenge
Globally, one-third of all food produced is lost or wasted before reaching consumers, leading to significant economic losses and contributing to greenhouse gas emissions throughout the agricultural value chain. This issue disproportionately affects the 500 million smallholder farmers in emerging markets, where post-harvest losses reduce income by at least 15%.
Many of these farmers reside in rural areas with unreliable energy access. They require energy for various stages of production, including irrigation, harvesting, processing, storage, preservation, transportation, and distribution. Therefore, sustainable, efficient, and cost-effective energy solutions are essential to reduce post-harvest losses and support these farmers.
The Opportunity
The Shell Foundation and the UK’s Foreign, Commonwealth and Development Office (FCDO) aim to enhance farmer incomes by reducing post-harvest losses in South Asia and Sub-Saharan Africa. The goal is to implement scalable, cost-effective solutions tailored to the needs of smallholder farmers, promoting sustainable agricultural practices and leveraging clean energy technologies.
Effective solutions will help farmers achieve increased incomes, higher yields, and greater climate resilience. Despite the availability of various technologies, many remain too costly for smallholder farmers. Thus, developing affordable, practical, and scalable solutions is crucial to reversing food waste trends and encouraging widespread adoption among farmers.
About the Shell Foundation and Factor E Ventures
The Post Harvest Loss Innovation Prize, led by Factor E Ventures in partnership with Shell Foundation, FCDO, ISF Advisors, MicroSave Consulting (MSC), and AndMore Associates, seeks to uncover groundbreaking technologies to reduce post-harvest losses for smallholder farmers.
Founded by Shell in 2000, the Shell Foundation focuses on creating and scaling business solutions that empower underserved populations through clean energy technologies. Its strategic partnership with the UK Government’s FCDO accelerates access to energy-enabled solutions for smallholder farmers and agricultural SMEs in sub-Saharan Africa and South Asia.
Factor E Ventures is an impact investment firm addressing climate and development challenges. By working at the intersection of risk capital, technology, and emerging markets, Factor E accelerates the positive impact of innovations on economies, environments, and communities.
About the Prize
The Post Harvest Loss Innovation Prize offers more than just a $50,000 financial reward. Finalists will gain access to a network of experienced industry leaders, media exposure, and Factor E’s post-investment support. The goal is to provide resources and recognition to accelerate agritech innovations and create substantial impact.
Applications will be reviewed by the Factor E investment team, with the top five finalists announced on September 17th and the final award announced on September 25, 2024.
Application Assessment Criteria
Submissions will be evaluated based on several factors:
- Innovation: Solutions must demonstrate a novel approach to problems faced by smallholder farmers, with potential for commercial viability.
- Solution Validation: Solutions should have undergone successful testing in either controlled environments or field conditions.
- Global Applicability: Innovations must be relevant for South Asia and Sub-Saharan Africa, with potential scalability to other emerging markets.
- Gender Impact: Solutions with a positive impact on female farmers are prioritized.
- Scalability and Reach: Solutions should have a clear path to scale and empower over 1 million farmers, demonstrating future ROI.
- Farm-Level Implementation: Solutions should be designed for direct use by farmers.
- Minimal Behavioral Change: Solutions should require minimal adjustments to existing farming routines.
- Financial Traction: Evidence of progress towards financial sustainability and prior fundraising success are positive factors.
- Technology Readiness Level (TRL): Preference for well-developed technologies at or beyond the validation stage.
- Founding Team: A strong, balanced, and diverse founding team with a proven leader.
Eligibility and Submission
Applications are open to startups, universities, non-profits, and for-profit companies. Ensure your application is submitted via the Google Form by July 31, 2024.
Timeline
- Request for applications: June 26, 2024
- Applications close: August 14, 2024
- Review period: August 1, 2024 – September 13, 2024
- Notification: September 16, 2024
- Finalists announcement: September 17, 2024
- Award announcement: September 25, 2024
For questions about the prize or eligibility, please contact submissions@factore.com.
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