Young entrepreneurs have been invited to come up with submissions in the innovation challenge Food Frontiers 2.0 on ensuring supply and consumption of nutritious and safe foods for people, especially the lower-income group.
Scaling Up Nutrition (SUN) Business Network, which is co-convened by the Global Alliance for Improved Nutrition (GAIN), a Switzerland-based international organisation, and the World Food Programme (WFP) jointly took the initiative, said a press release.
The winners will get cash and pre-seed funding for implementing business plans, expansion of the business, and infrastructure development.
Food Frontiers is an innovation challenge for rising youth entrepreneurs to bring disruptive changes in food systems.
It aims to find creative business concepts, inexpensive and scalable technical solutions, and campaign ideas that will help provide food and nutrition for underprivileged people at the base of the food pyramid.
The challenge’s aim is to identify new and innovative ways to reach lower-income consumers with nutritious food products; build the capacity of young entrepreneurs on a sustainable food systems approach and business skills for managing social enterprise.
The main objective of this challenge is to support innovative business models and technology-based solutions that could be implemented to increase access to nutritious foods.
A short-list will be made after scrutinising the submissions as first round of selection through a panel of judges from diverse entrepreneurship and academia.
Representatives from the selected businesses or ideas will attend a three-day residential boot camp session in Dhaka as part of the investment readiness training and business expansion.
There will be seven winners (two each from three categories) including one reserved prize for the International Nutrition Olympiad (INO). The number one category is Inclusive Business Models for Reaching Lower Income Consumers.
Submissions from early-stage social enterprises/starts-up will establish inclusive business models for reaching lower-income consumers with nutritious foods at a reasonable cost under this thematic area.
The number two thematic area is Disruptive Technological Innovation. Proposals are invited from enterprises with technological advancements to increase traceability, decrease food waste, devise methods for regenerative agriculture, and so on as part of this thematic area.
The number three thematic area is Innovative Marketing Campaigns. Individuals and businesses will be required to make nutritious foods more inspiring and to stimulate demand for nutritious food items produced by sustainable production systems. Existing campaigns/ideas must target the lower-income demographic.
National Association of Small and Cottage Industries of Bangladesh and Bangladesh Agricultural University are the strategic partners of this event.