Scaling Up Nutrition Business Network, co-convened by Global Alliance for Improved Nutrition, and the UN World Food Program (WFP) have launched an innovation challenge for youth entrepreneurs to ensure the supply and consumption of nutritious and safe foods for people, especially those in the lower-income group.
Through the web link — https://foodfrontiers.live/, application submission for the competition, tilted “Food Frontiers 2.0”, will end on 15 January 2023, said a press release.
Food Frontiers 2.0 is an innovative challenge 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.
A shortlist will be made after scrutinizing the submissions as the first round of selection through a panel of judges from diverse entrepreneurship and academia.
Representatives from the selected businesses/ ideas will attend a three-day residential boot camp session in the capital as part of investment readiness training and business expansion.
Seven winners (two each from three categories) including one reserved prize for the International Nutrition Olympiad (INO) will get cash and pre-seed funding for implementing a business plan, expansion of the business, and infrastructure development.
The challenge aims 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 a social enterprise.
The objective is to support innovative business models and technology-based solutions that could be implemented to increase access to nutritious foods.
However, the submission deadline may be extended apparently due to massive responses from the applicants.
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, currency 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.
The National Association of Small and Cottage Industries of Bangladesh and Bangladesh Agricultural University are the strategic partners of this event.