Investment and consulting firm, ID Capital has launched the 2017 ‘Future Food Asia Award (FFAA).’ Supported by the Economic Development Board (EDB) of Singapore, the award is dedicated to Agriculture (agritech) and Food technology (foodtech) startups in the Asia Pacific region.
The FFAA will select the most-promising startups in the region who place sustainable development at the core of their business proposition. It aims to help startups realise their full potential by connecting them to investors and multinational companies.
Speaking on the launch, Isabelle Decitre, CEO and founder of ID Capital said: “We have already shortlisted a number of promising startups in the region, which should excite both investors and multinational groups. The official launch should bring many more into consideration.”
Founded by Isabelle Decitre and headquartered in Singapore, over the course of the last two years, ID Capital has reportedly screened and sourced 100 agritech/foodtech deals and has been actively involved in the closing of two venture capital investments in this sector.
The FFAA was created to identify and fund such startups, and ultimately foster the entire agritech/foodtech ecosystem in the region. The competition opens in January 2017 and the award will be granted in May 2017. The jury will comprise a panel of international finance and industry experts.
The Grand Prize winner of FFAA will be awarded $100K. The Award is open to Pre-Series A startups in Asia, with at least $500K seed money and who plan to raise between $2 Mn or more in the next 18 months. Applicants need to come up with an innovative and sustainable technology that impacts the food ecosystem positively.
Interested startups can apply here.