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August 17, 2022

Dubai New Style

News site from Dubai Global News

Extending the period of receiving applications to challenge the agricultural future

Extending the period of receiving applications to challenge the agricultural future

In a press statement today, Hassad clarified that the extension was to allow the largest number of Jordanian agricultural startups to participate in the challenge and to obtain an opportunity to better qualify for the global version of the competition.

The Future Agro Challenge aims to attract and qualify leading companies to solve food and agriculture challenges in order to improve the food system and empower farmers to drive a change in food security and the economy in general. It targets startups in a number of sectors specializing in agriculture and food security, including Food Tech, agriculture production and processing, nutrition and health, farmer income, food waste, food or beverage, product or retail, education, agro-tourism, health safety, packaging and logistics, and other subsectors.

Hassad – a subsidy accelerator from VentureX, – launched this competition last May in collaboration with the Future Agro Challenge’s (FAC) network, which is owned by “INDUSTRY DISRUPTORS GAME CHANGERS”, a leading global network active in more than 60 countries across 5 continents dedicated to finding real sustainable solutions to the complex global food puzzle. The registration deadline for the local competition was initially open until the beginning of this month before the extension.

Hassad Accelerator, as the local partner, will lead the launch and implementation of the Future Agro Challenge in Jordan, which will hold the FAC National Competition and select the winning project through a committee of experts and specialists.

She explained that the deadline to receiving applications has been extended until the 8th of August.

Abu Obeid added that approximately 10 projects/or ideas will be selected to participate in the national competition online, where the winning project, whose founder will be titled the “National Agripreneur of the year”, and will gain direct access to the Global Agripreneurs Summit with the opportunity to participate in the Global FAC Competition, will be selected by a committee of experts and specialists.

She also explained that the participating companies will receive many benefits, including building traction around their projects through exposure, and the opportunity to join the acceleration program from Hassad to develop their business models, become investible and start raising capital, affirming that the winner of the competition, who will be considered the local qualifier and may participant in the global competition, would receive support from FAC’s international network and its media partners in enabling the final candidates to gain global recognition and opportunities to accelerate their growth, they will also gain access to mentorship discussions delivered by experts and leaders within FAC’s network through a series of webinars and bootcamps tailored to support agri-entrepreneurs to reach their best potential.

A recent study by Strategic Consulting and Market Research (Blue weave consulting) revealed The global digital agriculture market was valued at US $4770.8 million in 2020, and is expected to reach US $10702.3 million by 2027, with an annual growth rate of 12.7%, due to increased demand for food and increased use of technology in agriculture, as well as substantial savings in production costs using modern agricultural technologies.

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