Radicle Growth and Syngenta jointly launch The Radicle Protein Challenge by Syngenta to identify two companies with novel solutions to support the future of protein.
Radicle Growth, an acceleration fund, together with Syngenta, a leading agriculture company helping to improve global food security will be looking to choose two companies which are leveraging on innovative solutions to support the future of protein. This is part of The Radicle Protein Challenge by Syngenta.
Radicle and Syngenta are seeking entrepreneurs representing companies of all stages from around the world to apply for the US$1.25 million in investment—US$1 million for the Challenge winner and the US$250 thousand for the second-place winner—to accelerate the growth of their technologies. Applications are open through 29 May 2020.
The winners will not only receive a significant investment and custom accelerator program from Radicle Growth but will have access to Radicle and Syngenta’s broad agriculture expertise and global agritech networks to advance and promote their technology.
“Innovative protein sources are increasingly important for a growing population. We are excited to be collaborating with Radicle and entrepreneurs from around the world to accelerate innovation and I am looking forward to seeing lots of creative ideas,” said Erik Fyrwald, CEO, Syngenta. “Our mission at Syngenta of helping farmers to make the best use of available resources and grow the crops we need in an environmentally friendly and healthy way, includes providing them with the best products, technologies and agronomic advice.”
Both the organising companies will be assessing the entries over several months after the entry closes. Four to six finalists will be identified from the pool of applicants. These finalists will participate in a Pitch Day competition in Fall of 2020. This will give the participating companies an opportunity to present their solutions in front of a leading panel of judges.
“Recent Gallup data confirms that nearly a quarter of Americans are eating less meat than ever before. This has increased the demand for plant-based and cellular agriculture alternatives to traditional protein sources,” said Kirk Haney, Managing Partner of Radicle Growth. “Many companies focused on this space have been hard at work with plans to launch in the near-term. Getting the product right to meet consumer demand is only half the battle, the pricing also needs to be right. We look forward to seeing the companies emerging in, and looking to grow, in this space and providing them the capital they need to overcome the challenges of growing this segment and staying ahead of consumer demands.” [APBN]